404 Us 31W Byp, Bowling Green, KY 42101
950 SF | Retail Building | Bowling Green, KY 42101 | $2,078,000 ($2,187/SF) | 5.15% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 17 days
Asking Price $2,078,000
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail, Restaurant
- Square Feet
- 950 SF
- Price / Square Foot
- $2,187
Listing Contacts
Calvin Short
Matt Coates
Gary Chou
Aron Cline
Rad Werssowetz
- Property Info
Property Overview
PROPERTY HIGHLIGHTS
• Brand-new, build-to-suit construction with Dutch Bros’ latest prototype
• Corporately guaranteed, absolute NNN ground lease | Zero Landlord responsibilities
• Long-term, passive investment | New, 15-year lease with 10% rent increases every 5 years throughout the initial term and options, providing an excellent hedge against inflation
• Major Hospital Location | Site directly across the street from The Medical Center at Bowling Green | 337-bed hospital with $1B+ in revenue and over 1MM SF of medical office and healthcare-related services
• Dutch Bros will directly benefit from the daily employees (3,500), patients, and hospital visitors
• Adjacent to a Kroger-anchored shopping center | 1.1MM annual visitors to the Kroger and ranks within the top 25% of Kroger locations nationally | #1 location in Bowling Green
• University Location | About 2 miles from Western Kentucky University | ±16,500 students
• Excellent access and visibility from U.S. 31 W Bypass which sees ±21,670 VPD
• Dense area | 43,600+ residents within a 3-mile radius
• Within about 3.5 miles from:
• Greenwood Mall | 851,500+ SF mall anchored by JCPenney, Dillard’s, and Belk
• Shoppes at Gary Farms | A DICK’S and PetSmart-anchored shopping center
• A shopping center anchored by Walmart Supercenter, Target, and Lowe’s
• A shopping center anchored by Home Depot, Meijer, Kohl’s, and Ollie’s Bargain Outlet
• A T.J. Maxx-anchored shopping center
• A Kroger and Hobby Lobby-anchored shopping center
• Warren Central High School | 1,020 students
TENANT HIGHLIGHTS
• Dutch Bros is the third largest coffee chain in the US with 900+units across 17 states with a long-term goal of hitting 4,000+ stores in the next 10-15 years
• In Q1 2024, total revenues grew 39% y-o-y to a record $275MM | Delivers 10% same shop sales growth
• Expects to open at least 150-165 locations in 2024
• Has opened at least 30 stores in 11 consecutive quarters
• Dutch Bros holds an AUV of $2MM (2023)
• Dutch Bros (NYSE: BROS) went public in 2021 and holds a market cap of ±$6.45B as of 7/2/24
• #50 on Technomic’s Top 500 Chain Restaurant Report
• Brand-new, build-to-suit construction with Dutch Bros’ latest prototype
• Corporately guaranteed, absolute NNN ground lease | Zero Landlord responsibilities
• Long-term, passive investment | New, 15-year lease with 10% rent increases every 5 years throughout the initial term and options, providing an excellent hedge against inflation
• Major Hospital Location | Site directly across the street from The Medical Center at Bowling Green | 337-bed hospital with $1B+ in revenue and over 1MM SF of medical office and healthcare-related services
• Dutch Bros will directly benefit from the daily employees (3,500), patients, and hospital visitors
• Adjacent to a Kroger-anchored shopping center | 1.1MM annual visitors to the Kroger and ranks within the top 25% of Kroger locations nationally | #1 location in Bowling Green
• University Location | About 2 miles from Western Kentucky University | ±16,500 students
• Excellent access and visibility from U.S. 31 W Bypass which sees ±21,670 VPD
• Dense area | 43,600+ residents within a 3-mile radius
• Within about 3.5 miles from:
• Greenwood Mall | 851,500+ SF mall anchored by JCPenney, Dillard’s, and Belk
• Shoppes at Gary Farms | A DICK’S and PetSmart-anchored shopping center
• A shopping center anchored by Walmart Supercenter, Target, and Lowe’s
• A shopping center anchored by Home Depot, Meijer, Kohl’s, and Ollie’s Bargain Outlet
• A T.J. Maxx-anchored shopping center
• A Kroger and Hobby Lobby-anchored shopping center
• Warren Central High School | 1,020 students
TENANT HIGHLIGHTS
• Dutch Bros is the third largest coffee chain in the US with 900+units across 17 states with a long-term goal of hitting 4,000+ stores in the next 10-15 years
• In Q1 2024, total revenues grew 39% y-o-y to a record $275MM | Delivers 10% same shop sales growth
• Expects to open at least 150-165 locations in 2024
• Has opened at least 30 stores in 11 consecutive quarters
• Dutch Bros holds an AUV of $2MM (2023)
• Dutch Bros (NYSE: BROS) went public in 2021 and holds a market cap of ±$6.45B as of 7/2/24
• #50 on Technomic’s Top 500 Chain Restaurant Report
Property Details
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 20,473 SF
Highlights
- Brand-new, build-to-suit construction with Dutch Bros’ latest prototype
- Corporately guaranteed, absolute NNN ground lease | Zero Landlord responsibilities
- Long-term, passive investment | New, 15-year lease with 10% rent increases every 5 years throughout the initial term and options
- Major Hospital Location | Site directly across the street from The Medical Center at Bowling Green | 337-bed hospital with $1B+ in revenue
- Adjacent to a Kroger-anchored shopping center | 1.1MM annual visitors and ranks within the top 25% of Kroger locations nationally | #1 in City
- University Location | About 2 miles from Western Kentucky University | ±16,500 students
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