JUST LISTED: Dutch Bros Coffee Phoenix, AZ | $3.375M | Above Average Lot Size of ±1.08 Acres
3560 W Happy Valley Rd
Glendale, AZ 85310
FOR SALE
NNN Property
Property Type:
Single Tenant Retail (NNN)Amount:
$3,375,000
Cap Rate:
4.00%Last Verified:
May 25, 2022
• Single-tenant Dutch Bros Coffee investment opportunity, offering a brand-new 15-year absolute triple-net (NNN) lease with 10% rental increases every five years.
• Dutch Bros Inc. (NYSE: BROS), one of the fastest-growing brands in the food service and restaurant industry, operates over 500 coffee shops in 12 states and plans to grow to more than 4,000 shops nationwide.
• Dutch Bros Inc. launched an initial public offering on September 15, 2021. Revenue grew from $238.4 million in 2019 to $497.9 million in 2021, representing a compound annual growth rate (CAGR) of 44.5% (Source: investors.dutchbros.com).
• The Property is a part of an 18-acre mixed-use development which includes The Residences at Happy Valley, a ±325-unit, ±318,000 square-foot luxury multifamily development by Hines; as well as a brand-new QuikTrip, Dutch Bros Coffee, Valvoline, Slim Chickens, and Brush Fire Taco.
• High traffic counts of approximately 46,636 vehicles per day on average (Source: ADOT, 2021).
• Average household income of $111,333 in a three-mile radius (Source: Esri).
• Nearby national retailers include Safeway, Starbucks, Burger King, QuikTrip, Chase Bank, The UPS Store, and more.
• Taiwan Semiconductor Manufacturing Co. is expected to spend at least $12 billion from 2021 to 2029 on their new semiconductor factory (fab), to be built on ±1,128 acres of land minutes away from the Property (Source: Phoenix Business Journal).