847 Eastern Byp, Richmond, KY 40475
950 SF | Retail Building | Richmond, KY 40475 | $2,385,000 ($2,511/SF) | 5.40% Cap Rate
For Sale
Active
5 pictures
Asking Price $2,385,000
- Property Type
-
Retail
- Square Feet
- 950 SF
- Price / Square Foot
- $2,511
Listing Contacts
Britt Raymond
Kyle Fant
- Property Info
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, corporate guaranteed (NYSE: BROS), Dutch Bros investment property located in Richmond, Kentucky. The tenant, Boersma Bros Holdings KY, LLC, has just under 19-years remaining on its lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Dutch Bros is a rapidly growing coffee chain with more than 850 locations in 17 states.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 27,878 SF
Highlights
- Rare 20-Year Ground Lease | Corporate Guaranteed | Scheduled Increases | Well Known & Established Tenant
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Outparcel To Carriage Gate Shopping Center | Drive-Thru Equipped I-75 (69,400 VPD) | National/Credit Tenants | Direct Consumer Base
- Strong Demographics In 5-Mile Trade Area
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