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Total Building GLA
950 SF
Absolute NNN Ground Lease
15 Years
Year Built
2024
Exceptional Visibility
28K+ VPD
Strong Demos
30K+ Pop. (5-Mi)
INVESTMENT HIGHLIGHTS
Long-Term Lease Tenant is operating under a brand new 15-year lease. The Lease offers long-term cash flow to investors and is significantly more attractive than competing coffee concepts with the alternate 10-year lease structure.
Absolute NNN Ground Lease The Lease is Absolute NNN with zero landlord responsibilities, offering ease of management and truly passive cash flow to investors.
Dutch Bros - Top Performing Drive-Thru Coffee Operator Dutch Bros, Inc. (NYSE: BROS) is a high-growth drive-thru coffee chain with over $913 million in 2023 Revenue and a 43% Revenue CAGR since 2019. Their strong growth trajectory (180+ new stores 2024) and sound financials offer an attractive guaranty to investors.
Attractive Rental Increases The Lease includes 10% rental increases every 5 years. Given the term remaining, there are 2 rent increases remaining in the future. The increases provide a hedge against inflation and a boost to overall equity recovery in the base term and options.
Brand New Construction w/Double Drive-Thru The Property is under construction and set to be completed in Q3. It represents Dutch Bros’ most recent prototype and double drive-thru concept. The double drive-thru allows Dutch Bros to serve a high volume of customers quickly and efficiently.
High-Traffic Trade Area w/ Easy Access The Property is located off South Townsend (Highway 550), which benefits from more than 28K+ VPD and serves as the major thoroughfare in town. The site can be accessed from both southbound and northbound Highway 550 via a center turn lane.
Adjacent to Major Traffic Drivers Close to several traffic drivers, including Colorado Outdoors Project, Target, Walmart, Home Depot, U.S. Western Area Power Administration, Montrose High School (1,261 enrolled), and Cottonwood Elementary School (145 enrolled). Other retailers include Harbor Freight, Natural Grocers, Marshalls, Hobby Lobby, and many more.
Tourism Hub w/Easily Accessible Regional Airport Montrose is a tourist destination due to its proximity to Telluride, Black Canyon National Park, Gunnison Gorge National Conservation Area, and the Uncompahgre Plateau, among other outdoor destinations. Tourists can access Montrose via the Montrose Regional Airport. The airport benefits from direct service to and from Denver, Chicago, Los Angeles, San Francisco, Orange County, Dallas, Houston, Austin, Atlanta, and Newark via American, Southwest, Delta, and United Airlines.
Colorado Outdoors Project Montrose received $83M in infrastructure funds to create a central business/visitor destination along the Uncompahgre River corridor, which is home to a gold medal fly fishing area. Development includes 164 acres of high-end commercial, residential, and industrial development land.
Attractive High-Growth Demos There are 25K+ residents within a 3-mile radius earning an average household income of 84K+ within 3 miles. The 3-mile population is set to grow at a 0.55% annual rate the next 5 years, while household income will grow at a 3.19% annual rate over that period.
