About This Restaurant
Investment Highlights
Brand New 20-Year Lease | Scheduled Rental Increases | Options to Extend | Established Tenant | 2024 Construction $168K+ Incomes | Infront of Palencia - Master-Planned Community | 10 Miles From Downtown Saint Augustine Fronting US Hwy 1 | Surrounding New Development | Drive-Thru Equipped | Excellent Visibility & Access Absolute NNN Ground Lease | Land Ownership | Zero Landlord Responsibilities
Executive Summary
? The tenant has 20 years remaining on their lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site? The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation? Founded in 1992, Dutch Bros Coffee is a publicly traded Coffee Chain (NYSE: BROS), with 800 locations throughout 14 states? 2024 construction which features high quality materials, distinct design elements, and high-level finishes
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food
- Building Size 950
- Building Class B
- Year Built 2024
- Price 2,468,000
- Price Per SF 2,598
- Cap Rate 4.85
- NOI 119,688
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.03
- Land Acres 0.79 AC
| Date Created: | 2024-07-16 04:13:32 | Last Updated: | 2024-07-16 04:13:32 |
| Address: | 50 McCoy Way , Saint Augustine, Florida, 32095 | ||