203 South Main St Mauldin, SC 29662

This net lease retail investment opportunity is located in the Greenville SC MSA. The property is currently under development along a high-traffic corridor with over 47,600 vehicles per day at a signalized intersection. The site will feature a 950-square-foot building with double drive-thru lanes and 10 parking spaces, with multiple access points. Construction is scheduled to break ground in October 2025, with completion projected for Q1 2026. The intended use of the property is for a drive-thru beverage business. The 15-year absolute NNN lease commences in Q1 2026 and includes three renewal options of 5 years each, with zero landlord responsibilities. The lease features 10% rent increases every 5 years, including option periods, and a corporate guaranty. The tenant, Dutch Bros, Inc. (NYSE: BROS), has over 1,000 locations across the U.S. and is projected to reach over 2,000 stores by 2029, with average unit sales volume of approximately $2 million. In 2024, Dutch Bros reported total revenues of $1.28 billion with a 2025 projection of $1.6 billion. The property is located a few minutes from I-85 and I-385, 15 minutes from Greenville-Spartanburg International Airport, and 20 minutes from downtown Greenville. The immediate trade area consists of 1.4 million square feet of retail space that is 99.3% leased. The surrounding area has over 58,200 households and 137,700 residents within a 5-mile radius, with an average household income of $122,700 and a median household income of $88,200 within the same radius.