SRS Real Estate Partners announced the $3.13 million sale of a newly constructed Dutch Bros Coffee property located at 1432 W. Orange Blossom Trail in Apopka, FL. The asset is corporately guaranteed and features a brand-new 15-year absolute triple-net (NNN) lease, offering long-term stability and zero landlord responsibilities.
SRS Capital Markets Executive Vice President & Principal William Wamble and Senior Managing Principal Patrick Nutt represented the seller, a national investment and development company. SRS helped the buyer, a Florida-based private investor who was in a 1031 exchange, identify the property on the final day of its 45-day identification period after its original deal fell through. The property sold at a 4.95% cap rate.
“This deal is a great example of our team’s ability to step in quickly and deliver for a client with a tight deadline,” said Wamble. “We have now sold the only two sub-5% cap rate Dutch Bros transactions in Florida over the past year. The combination of strong real estate fundamentals, an irreplaceable drive-thru location, and a passive lease structure made this property a perfect fit, creating a winning situation for both the seller and the buyer.”
Situated on .79 acres, the 950-square-foot property benefits from high visibility along W. Orange Blossom Trail with traffic counts exceeding 47,000 vehicles per day and is surrounded by top-tier retailers including Lowe’s, Home Depot, and Winn-Dixie. Apopka continues to experience rapid population growth and significant new development, including large-scale mixed-use and residential projects underway nearby.
This year, SRS Capital Markets has completed more than $1.2 billion in deal volume comprised of more than 350 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.