Dutch Bros. Coffee
950 SF | Retail Building | Escondido, CA 92025 | $2,467,000 ($2,597/SF) | 4.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,467,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 950 SF
- Price / Square Foot
- $2,597
Listing Contacts
Ryan Litrich
Verified Profile
- Property Info
Property Overview
REvolve Growth Partners has been exclusively retained to offer for sale a Corporate Dutch Bros in Escondido, CA. Located directly on Centre City Parkway in San Diego’s desirable North County region, this store is well positioned for continued success. Approximately 48,400 vehicles travel daily at the intersection of W. Washington Avenue & Centre City Parkway. The property is within 0.8 miles of I-15, within 0.5 miles of State Route 78, within 3 blocks of Escondido’s City Hall and within a 35 minute drive to San Diego International Airport.
Dutch Bros executed a 15-year corporate lease, guaranteed by Boersma Bros, LLC. This Absolute NNN ground lease offers an investor a stable, “hands off” investment, at an attractive basis with an opportunity for long term rental growth (on account of below-market ground rent). There are 14.5+ years remaining on the initial lease term, and the tenant has 3 - 5 year options and 1 - 4 year, 11-month option to extend the lease. The rent increases 10% every 5 years (the next increase is 4/1/29), including during the option periods.
The property features a 19-car drive-through queue and is prominently located on Centre City Parkway, with outstanding access along both this street and W. Washington Avenue. Over 150,000 people live within 3 miles of this store.
LINK TO OFFERING MEMORANDUM: https://hubs.ly/Q02JwXTV0
Dutch Bros executed a 15-year corporate lease, guaranteed by Boersma Bros, LLC. This Absolute NNN ground lease offers an investor a stable, “hands off” investment, at an attractive basis with an opportunity for long term rental growth (on account of below-market ground rent). There are 14.5+ years remaining on the initial lease term, and the tenant has 3 - 5 year options and 1 - 4 year, 11-month option to extend the lease. The rent increases 10% every 5 years (the next increase is 4/1/29), including during the option periods.
The property features a 19-car drive-through queue and is prominently located on Centre City Parkway, with outstanding access along both this street and W. Washington Avenue. Over 150,000 people live within 3 miles of this store.
LINK TO OFFERING MEMORANDUM: https://hubs.ly/Q02JwXTV0
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 29,621 SF
Highlights
- New 15 Yr Corporate Lease
- Absolute NNN High Traffic - 48,397 ADT / Infill Site
- Below Market Lease - Growth Opportunity
- Central Location in North San Diego County
- Dense Population - $91K+ Avg HH Income
- Opening August 2024 - 19-Car Drive-Through
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