SRS Real Estate Partners has completed the $2.765-million ground lease sale of a single-tenant net-leased Dutch Bros. Coffee property located at 4236 N. Varsity Ave. in San Bernardino. The transaction closed at a 4.52% cap rate, representing one of the lowest cap rates for a Dutch Bros. STNL property nationwide this year, according to SRS.
Senior managing principals Patrick Luther and Matthew Mousavi represented the seller, an affiliate of Paragon Commercial Group. The buyer was a private California investor completing a 1031 exchange and was represented by JT Real Estate Group.
“This Dutch Bros. offered a brand-new, corporate-guaranteed ground lease with zero landlord responsibilities in a high-traffic, densely populated trade area directly off Interstate 215 and near a state university,” said Luther.
The lease includes options to extend, with the tenant responsible for all expenses, providing an ideal management-free investment for passive investors.
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