corporate majestic fine wines & spirits | lubbock | texas - EXP Realty ...

PROPOSED
Single Tenant - Corporate - Majestic Fine Wines & Spirits (dba DOC’S Beer Depot)
10101 Highway 87 in Lubbock, TX
$2,400,000 | 9% CAP Rate
• New 20-Year Absolute NNN Lease | 10% Rental Increases Every 5-Years
• Corporate Lease: 48 TX Locations | Founded in 1942 | $148M Sales
• DOC’S is the Lubbock, TX Brand for Majestic Liquor Stores, Inc. (Lessee)
• #2 Retail Beverage Store Chain in TX | #1 Avg. Sales Per Store in TX
• Seasoned Mgt. Team Nearly Doubled Sales From 2006-2009 Company Wide
• 9 Drive-Thru Lanes - Shared Access With DOC’S Liquor Store (Also Available)
• Largest Store in Terms of Beer Sales Volume and Square Footage on “The Strip”
• Subject Property: Staggering Sales Volume Steady Increased From 2006-2009
• Lubbock, TX Recently Held an Election to Allow “Off-Premise” Alcohol Sales
• This Location Will Continue to Serve as a Retail Store and Main Hub for
Majestic’s Wholesale Business in the Lubbock Area (4 More Stores Planned)
Exclusive Listing Agent:
Joe Caputo
(415) $7,500,000 250-1977 / 9% CAP
joe@exp1031.com
EXP REALTY ADVISORS HQ: 118 East 28th Street #808 | New York | NY | 10016 | T: (212) 972-7457 | F: (212) 686-0078 | www.exp1031.com

CORPORATE MAJESTIC FINE WINES & SPIRITS | LUBBOCK | TEXAS
Purchase Price: $2,400,000
CAP Rate: 9%
Lease Term: 20 Years
Rent Increases: 10% Every 5-Years
Building Area: +/- 13,124 SF
Land Area: +/- 1.42 Acres
Lease Type: Absolute NNN
Year Built 1983
Investment Highlights
• Corporate Lease: 48 Locations | Founded 1942 | $148M Sales
• Seasoned Mgt. Nearly Doubled Sales 2006-2009 Company Wide
• 9 Drive-Thru Lanes Shared w/ DOC’S Liquor Store (Also Available)
• Largest Beer Store in Terms of Sq. Ft. and Sales on “The Strip”
• Subject: Staggering Sales Volume Steadily Increased 2006-2009
• Lubbock, TX Recently Allowed “Off-Premise” Alcohol Sales
• DOC’S Will Serve as Majestic’s Lubbock Wholesale Distribution Hub
• Lubbock is the 11th Largest City in TX | Population in Excess of 210K
• Lubbock, TX: Home to 4 Colleges, Including Texas Tech Red Raiders
• Texas Tech Economic Impact on the Region in Excess of $350M
• Average Daily Traffic, U.S. Highway 87: 24,000 Cars (TXDOT 2008)
EXP Realty Advisors is pleased to present for sale a brand new
single tenant DOC’S Beer Depot in Lubbock, Texas. This offering
gives investors the unique opportunity to own an investment property
leased to a well established (recession proof) tenant for 20 years
with rental increases and virtually no landlord responsibility.
Property Price CAP Bldg. Area Land Area
DOC'S Beer Depot $2,400,000 9% 13,124 SF 1.42 Acres
DOC'S Liquor Store $3,620,000 9.5% 20,834 SF 2.01 Acres
DOC'S Super Store
(Combined)
DOC'S OFFERINGS
$5,745,000 9.75% 33,958 SF 3.43 Acres
COPYRIGHT © 2009. ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. EXP Realty Advisors (“Agent”) has presented this confidential Investment Memorandum to assist the recipient in
evaluating the “Property” and it is intended for your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of preparation. No warranty as to the accuracy or completeness is
expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed. Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same
reviewed by its tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent upon request; (b) the Buyer shall not contact any property manager, employee or tenant
of the Property regarding the enclosed materials or the Property, without prior approval of Agent; and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission, finder’s fee, or
other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the Property after first obtaining a signed confidentiality agreement from such persons to keep such information confidential.
The Buyer shall defend, indemnify and hold harmless the seller, Agent and its affiliates from and against any claims, demands, damages, liabilities, costs or expenses, including reasonable attorneys’ fees, relating to any claim for a commission, finder’s fee or other compensation by any
broker or other person dealing with the Buyer. The Property is being sold on an “as-is, where-is” and “with all faults” basis.

CORPORATE MAJESTIC FINE WINES & SPIRITS | LUBBOCK | TEXAS
LEASE OVERVIEW:
Tenant: Majestic Liquor Stores, Inc.
Lease Term: Twenty (20) Years
Options: Four (4), Five (5) Year Options
Base Rent: $216,160 / Year
Increases: 10% Every Five (5) Years, Including Options
Lease Type: Absolute NNN | Tenant Pays All Taxes, Insurance
TENANT OVERVIEW:
Majestic Liquor Stores, Inc.
and Maintenance to Include Roof and Structure
Founded: 1942
Headquarters: Ft. Worth, TX
Locations: 48
Website: www.majesticliquors.com
Revenue: $148 Million (April 2009 TTM)
Majestic Liquor Stores, Inc. is the second largest chain of retail beverage stores with the highest average unit
volumes in the State of Texas. Founded in 1942, the company now operates 48 locations. During 2005 the chain
began a program of expansion into other markets through the acquisition of Fat Dog Beverage Stores in Coffee City
and the purchase of five stores from Red Coleman in Dallas and Addison. Majestic topped off 2005 with construction
of a large modern store in Granbury, Texas. In 2006 Majestic entered the Austin, Texas market with acquisition of
the Grape Vine Market.
Experienced management and leadership is one of Majestic’s principal competitive advantages. The team consists
of seasoned talent whose collective 90 years of experience includes engineering, industrial management, retail
operations, insurance and real estate. In addition, the management team possesses the proven ability to successfully
run large operations in multiple markets and to profitably manage various aquisitions in order to deliver world-class
results. Management has consistently demonstrated its ability generate levels of cash flow that provide an attractive
platform for investment. Management has grown revenue from approximately $80 million in 2006 to approximately
$148.5 million as of the trailing twelve months ended in April 2009.
The company poses the market position, financial stability and magement experiencerequired to grow revenue
through the implementation of several existing opportunities which exist in the Lubbock, TX market. Majestic Liquor
Stores, Inc’s top opportunites for growth include: (1) organic growth; (2) building new stores from the ground up; and
(3) aquisitions. DOC’s will continue to be Majestic’s primary brand in the Lubbock, TX market.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
Buyer must verify the information an bears all risk for any inaccuracies.

CORPORATE MAJESTIC FINE WINES & SPIRITS | LUBBOCK | TEXAS
Site Plan
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2008 Marcus & Millichap
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
Buyer must verify the information an bears all risk for any inaccuracies.
PROPERTY DESCRIPTION
8

CORPORATE MAJESTIC FINE WINES & SPIRITS | LUBBOCK | TEXAS
Highland Village, TX Checkout
Similar “Super Store” Concept
DOC’S Drive-Thru
Shared w/ DOC’S Liquor Store

DOC’S Liquor Store
Also Available

CORPORATE MAJESTIC FINE WINES & SPIRITS | LUBBOCK | TEXAS
LOCATION OVERVIEW:
Immediate Trade Area | DOC’S (Majestic) Customer Base
Lubbock is the largest city and county seat of Lubbock, County in the panhandle of Texas. Until May 2009, Lubbock was “dry”,
allowing no alcohol sales for off-premises consumption. One small area on Highway 87 (ADT: 24,000 Cars - TXDOT 2008)
several miles south of the city was formed decades ago that became “The Strip”, and until the recent local option election
was the only area in a 19 county region allowing the sale of alcohol for off-premises consumption. In order for residents of
Lubbock and the surrounding area to purchase alcohol, they had to drive to The Strip. DOC’S, a two-building establishment
that includes 33,957 square feet (offered together or separately) under roof on 3.43 acres, is the largest store in terms of
square footage and sales on The Strip.
In addition to DOC’S, Majestic owns four other stores on and near The Strip, The Cellar, Crossed Keys, Double T #1 and
Double T #2. As a result of the change in purchasing habits caused by the election, Majestic will be consolidating all stores
located on and near The Strip into DOC’S, and closing the other stores. In addition, all of Majestic’s wholesale business for
Lubbock County is, and will continue to be, operated out of the DOC’S store on The Strip. Majestic plans to build at least 4
new stores conveniently located throughout Lubbock to recapture business expected to go to other stores now selling alcohol
for the first time, while continuing to operate the DOC’S on The Strip as a retail store and the hub for its wholesale business.
Once the new stores are operational, DOC’S will again be the dominant beer, wine and spirits brand in the Lubbock area.
Lubbock, Texas
Located on the Southern High Plains, Lubbock, TX is the state’s eleventh largest city and is the epicenter of a 26-county region.
Lubbock serves West Texas and eastern New Mexico with top-quality medical care and educational institutions. Lubbock has
many of the amenities of a large metropolitan area, such as a large airport, great shopping and restaurants, and excellent
public and private schools, yet it retains a wonderful small-town atmosphere.
There are three universities and one community college in the Lubbock MSA including the largest which is Texas Tech. Texas
Tech’s direct economic impact on the region is in excess of $350 Million.
Lubbock, Texas
The city’s population exceeds 211,000 and is advancing steadily, but growth and modern amenities haven’t really altered
Lubbock’s down-home feel. Lubbock is youthful, with a median age of 30.7. This compares to the state and national averages
of 33.2 and 36.2, respectively. Over 64% of Lubbock’s population is in its working prime, between the ages of 18 and 64. The
city’s 2005 median household income was $47,150.
The cost for housing in Lubbock is typically $10,000 to $20,000 less than the national average due to the low cost. The average
price of homes in Lubbock in 2005 was $120,541, according to the Lubbock Economic Development Alliance. Most of the
city’s apartment units are located in the south and west and near Texas Tech. The average rent for a one-bedroom apartment
was approximately $480 in 2006, with a two-bedroom unit going for $590 and $769 for three bedrooms.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
Buyer must verify the information an bears all risk for any inaccuracies.

CORPORATE MAJESTIC FINE WINES & SPIRITS | LUBBOCK | TEXAS
Location Maps
10/2/2009 10101 Highway 87 in Lubbock, TX - Go…
Address 10101 Hwy 87
Lubbock, TX 79423
EXISTING DEBT: MUST BE ASSUMED
http://maps.google.com/maps?q=1010… 1/1