1600 Ross St Amarillo, TX 79102-4418

Property Details for 1600 Ross St

Year built

2022

Lot size

0.86 lot acres

Property size

970 SF

Zone code

GR

Property type

Drive through restaurants

APN

R-048-0400-8969

APU

R04804008969

Description

This exceptional investment opportunity presents a fee-simple interest in a Dutch Bros Coffee property located at 1600 Ross St, Amarillo, TX, 79102. The 950-square-foot building, constructed in 2022, boasts a double drive-thru designed for optimal efficiency, capable of accommodating up to 25 vehicles. Situated on a 0.86-acre lot, this Class B retail property benefits from exceptional visibility and accessibility, enjoying proximity to Interstate 40 (77,000 cars per day) and high daily traffic counts on Ross Street (15,000 cars per day). The property is part of a thriving retail and hospitality node, neighboring numerous national brands including McDonald's, Sam's Club, KFC, and several hotels. The tenant, Dutch Bros Coffee, operates under a 15.1-year Absolute NNN lease, commencing July 15, 2022, and expiring July 31, 2037, with a remaining term of 12.7 years. The lease includes three, five-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $98,500, representing a 5.30% cap rate and a price per square foot of $1,956.32. The asking price for this single-unit property is $1,858,500. This passive investment offers significant upside potential through built-in rent increases, providing a hedge against inflation. The property's strong location and established tenant make it an attractive addition to any portfolio.