Available Property
Starbucks
110 South Key Ave
Lampasas, Texas 76550
$2,450,000
This investment offering is for a new, single tenant Starbucks Drive- Thru Coffee Cafe (NASDAQ - SBUX) in Lampasas, Texas. The property consists of a freestanding ± 2,000 sf retail building, with drive through window and outdoor patio, on a ± 0.76 acre parcel at 110 South Key Avenue. South Key Ave. (aka Highway 183) is the primary north / south commercial artery through Lampasas. Starbucks Corporation chose this easily accessed, corner parcel for the city’s only drive-through coffee cafe. Located 25 miles west of Fort Hood / Killeen and 75 miles northwest of Austin, Lampasas is known as the Gateway to the Hill Country, appealing to residents and visitors who enjoy a quality lifestyle and the many natural springs and award winning wineries nearby. The corporate Starbucks lease has a ten year primary term, followed by four, 5-year renewal options with rent increasing by 8% every 5 years. This is a passive investment with Starbucks paying taxes, insurance and daily maintenance. The landlord responsibilities are limited to structure, roof and parking area. The parking lot is concrete. The nearest Starbucks is more than 25 miles away. Lampasas is the county seat of Lampasas County and home to Windsor Foods and Oil States Industries as well as city and county government offices. Starbucks continues to create an easy and convenient customer experience from drive through or pick up. Starbucks - Lampasas is ideal for an investor seeking management-free income from an industry leading, public company with an investment grade credit rating.
Tenant: Starbucks Corporation
Starbucks Coffee is the premier global brand in the world of specialty coffee operating in 75 countries. The Company purchases and roasts high-quality whole bean coffees and sells them, along with fresh, rich brewed coffees, Italian Style espresso beverages, cold blended beverages, a variety of complimentary food items, a selection of premium teas, and beverage related accessories and equipment primarily through Company operated retail stores. The Company's brand portfolio also includes Seattle's Best Coffee, Tazo teas, Teavana, Ethos Water, La Boulange, Evolution Fresh & Torrefazione Italia. Since its founding in 1971, the Company has grown to 33,800 locations around the world with sales exceeding $23.5 billion. The Company maintains an investment grade credit rating of BBB+ and its common stock trades on the NASDAQ under ticker symbol SBUX. Global sales in 2020 was $23.5 billion with U.S. sales of $16.8. Starbuck’s sales have rebounded following restrictions during the Covid 19 pandemic. Starbucks navigated this disruption by improving its drive-through, take away and delivery business. Global comparable store sales in the first and second quarter of 2021 have increased by double digits and the Company projects 2021 revenues to increase to $28 billion. The Company announced a 20% increase in their dividend and last year returned $8.9 billion to shareholders through stock repurchases and dividends.
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