2831 Elm Hill Pike

Investment Highlights

New 15-Year Lease | Scheduled Rental Increases | Corporate Guaranteed | Well-Known & Established Brand Dense Retail Trade Area | Strong Nearby Tenant Presence | Located Outside Nashville International Airport Direct Residential Consumer Base | Demographics in 5-Mile Trade Area NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities Signalized, Hard Corner Intersection | Centralized Location | Drive-Thru Equipped | 2024 Construction | Excellent Visibility

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, drive-thru equipped, Dutch Bros investment property located in Nashville, TN. The tenant recently signed a brand-new 15-year lease with 3 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The asset, which opened in February 2024, features a state-of-the-art design using the highest-quality materials available. Dutch Bros is strategically located at the signalized, hard corner intersection of McGavock Park and Elm Hill Pike, averaging a combined 25,600 vehicles passing by daily. The asset benefits from nearby access onto State Highway 155 (98,300 VPD), Interstate 40 (195,500 VPD), and Interstate 24 (173,800 VPD), making this a centralized location with easy access for employees and customers. Dutch Bros is ideally situated within a dense retail trade area with a strong mix of national/credit tenants including Publix, AutoZone, Walgreens, Target, Kroger, Harbor Freight Tools, and others. In addition, the property lies just outside of Nashville International Airport with many hotels within walking distance, making it a convenient option to accommodate traveler?s coffee needs. The strong tenant synergy increases consumer draw to the immediate trade area, promotes crossover store exposure, and contributes to the local economy. Furthermore, the property is near many numerous single-family communities and multi-family complexes including Atrium Flats (120 units), Sheffield Heights (202 units), Highland on Briley (408 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 146,300 residents and 121,200 daytime employees, with a healthy average household income of $87,283.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Fast Food
• Building Size    950
• Building Class    C
• Year Built    2024
• Price    2,380,000
• Price Per SF    2,505
• Cap Rate    5
• NOI    119,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.01
• Land Acres    1.97 AC