Burger King,
Lampasas, TX Investment Summary
| Price | $2,200,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five Years |
| Year Built | 2020 |
| Building Size | 2,866 SF |
| Lot Size | 0.62 Acres (27,007 SF) |
| Status | Sold |
| Lead Brokers | Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 20-year absolute NNN lease with no landlord management, providing an ideal investment for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Full-term personal guaranty with a net worth of over $25 million
» Burger King has iconic brand recognition as the word’s second largest fast food hamburger chain
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» 17,900 AADT directly in front of the property on North Key Avenue/U.S. Route 281
» Located on U.S. Highway 281, Lampasas’ primary retail and transportation corridor
» Nearby access to U.S. Route 190 and U.S. Route 183
NEAR LARGE SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Within three miles of Lampasas High School (1,030 students), Lampasas Middle School (741 students), Hanna Springs Elementary School (616 students), and Kline Whitis
Elementary School (424 students)
» Less than one mile from Lampasas’ two largest employers, Lampasas Independent School District (530 employees) and Ajinomoto Foods (380 employees)
» Walking distance from AdventHealth Rollins Brook hospital (25 beds, 111 employees, $50 million in annual total patient revenue)
» Immediate access to Lampasas Football Stadium, Turner Field Park, Hanna Springs Sculpture Garden, Boys & Girls Club of Lampasas, and Hancock Springs Park
NEW 2020 CONSTRUCTION
» New 2020 construction featuring drive-thru, providing additional customer convenience and boosting sales revenue
» High-quality brick and stucco finishes over a wood frame
» Built to latest Burger King prototype
» Located in an income tax free state
Property Description
SOLD
The property is strategically located on North Key Avenue/U.S. Route 281, with excellent visibility and access to 17,900 vehicles per day directly in front of the property. U.S. Route 281, known as North Key Avenue within Lampasas, serves as the city’s primary retail and transportation corridor. U.S. Route 281 is also a major north–south thoroughfare within Texas and the United States, connecting Mexico and Canada. The property also has nearby access to U.S. Route 190 and U.S. Route 183.
Visibility is increased by the site’s proximity near large schools, employers, and community hubs. The location resides less than one mile from Lampasas’ two largest employers, Lampasas Independent School District (530 employees) and Ajinomoto Foods (380 employees). The site is within three miles of Lampasas High School (1,030 students), Lampasas Middle School (741 students), Hanna Springs Elementary School (616 students), and Kline Whitis Elementary School (424 students). The property is walking distance from AdventHealth Rollins Brook hospital (25 beds, 111 employees, $50 million in annual total patient revenue) and has immediate access to multiple community hubs including Lampasas Football Stadium, Turner Field Park, Hanna Springs Sculpture Garden, Boys & Girls Club of Lampasas, and Hancock Springs Park.
