Dutch Bros. Coffee | 507 W Washington Ave
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Dutch Bros. Coffee 507 W Washington Ave
950 SF Retail Building Escondido, CA 92025 £1,954,059 (£2,057/SF) 4.50% Net Initial Yield
Investment Highlights
- New 15 Yr Corporate Lease
- Below Market Lease - Growth Opportunity
- Dense Population - $91K+ Avg HH Income
- Absolute NNN High Traffic - 48,397 ADT / Infill Site
- Central Location in North San Diego County
- Opening August 2024 - 19-Car Drive-Through
Executive Summary
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 Facts In Escrow
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
950 SF
Building Class
B
Year Built
2024
Price
£1,954,059
Price Per SF
£2,057
Net Initial Yield
4.50%
NOI
£87,921
Tenancy
Single
Number of Floors
1
Building FAR
0.03
Lot Size
0.68 AC
Zoning
C, Escondido
Frontage
96 ft on W Washington Ave
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
Walk Score ®
Very Walkable (79)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 229-271-26 | Improvements Assessment | £329,632 |
| Land Assessment | £824,079 | Total Assessment | £1,153,711 |
PROPERTY TAXES
Parcel Number
229-271-26
Land Assessment
£824,079
Improvements Assessment
£329,632
Total Assessment
£1,153,711
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Dutch Bros. Coffee | 507 W Washington Ave
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