As a new Dutch Bros. Coffee location has opened in the College of Southern Nevada Charleston Campus area, the Sorrentino Retail Group, a division of ROI Commercial Real Estate, has sold the property housing the coffee chain giant.
Located at 6651 Charleston Boulevard and having finished construction in June, the building is under lease to Dutch Bros. Coffee for fifteen years.
Dutch Bros., founded in 1992, is the largest privately held drive-thru coffee chain in the United States, serving a variety of coffees and other beverages. The Las Vegas Valley is home to twelve Dutch Bros. locations, and the coffee shops are widespread in the western states, with plans to expand into Texas.
A memorandum from ROI Commercial Real Estate lists the property’s net operating income at $125,000, with 10% lease increases scheduled every five years. The asking was $2,906,796.70 but the actual sales price was not disclosed. A rep for ROI told What Now Las Vegas on Wednesday that the sale closed Friday.
The location, well-placed in the highly trafficked Charleston Boulevard Retail Corridor five miles west of the Las Vegas Arts District, boasts an average daytime population of 61,815 people within a seven-minute drive. The property is within walking distance of Crossroads Apartments, Lantana Apartments, and Sundance Village Apartments, and nearby restaurants and retailers include Lee’s Hawaiian Okazuya & Bakery, Purse N Tingz, Kim’s Bento, and the Assistance League of Las Vegas Thrift Shop.
[Editor’s note: this article was updated to reflect that the property has sold.]