For Sale
$2,468,000

50 Mccoy WaySt. Augustine, FL 32095

High-yield, NNN ground lease in St. Augustine, FL.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a brand-new, 950 square foot Dutch Bros. Coffee location in St. Augustine, Florida. Built in 2024, this single-story building sits on a 0.79-acre lot with 15 parking spaces and boasts a prime location on US Hwy 1 (26,000 vehicles per day), offering excellent visibility and accessibility. The property benefits from a 20-year absolute NNN ground lease with a corporate guarantee from Dutch Bros. Coffee, a publicly traded company (NYSE: BROS). The lease includes three 5-year renewal options and features 10% rent increases every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its 4.85% cap rate and a net operating income (NOI) of $119,688. The strategic location within the rapidly developing Palencia master-planned community, near a Publix-anchored shopping center and other retail establishments, further enhances its investment appeal. The property is zoned commercial and includes a drive-thru for customer convenience. This is a rare opportunity to acquire a long-term, low-maintenance investment with a highly reputable tenant in a thriving market. The property's strong financials, coupled with the tenant's robust performance and the strategic location, make this an attractive investment for discerning buyers. The average household income within a 1-mile radius is $168,965. The adjacent Circle K ranks in the top 79% of all locations nationwide. This is a truly exceptional opportunity to acquire a high-performing, low-risk investment property.

Highlights

  • $2,468,000 asking price for a 950 SF Dutch Bros. Coffee, offering a 4.85% cap rate and $119,688 NOI.
  • Absolute NNN ground lease with corporate guarantee, 20-year term, and 10% rent bumps every 5 years, plus three 5-year options.
  • Located in St. Augustine, FL, on US Hwy 1 (26,000 VPD), within a rapidly developing area near Palencia master-planned community.
  • Features a drive-thru, 15 parking spaces, and excellent visibility.
  • Land ownership with zero landlord responsibilities.

Property Details for 50 Mccoy Way

Property type
Retail properties, Restaurants
Square Feet
950 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
34,412 SF
Units
1

Location Insight

City
St. Augustine
County
St. Johns
State
Florida
Latitude
30.0178053
Longitude
-81.3962296
50 Mccoy Way, St. Augustine, Florida

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50 Mccoy Way
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