Investment Highlights
Executive Summary
Flanagan Investment Real Estate is pleased to offer for sale a single-tenant, absolute NNN ground lease Human Bean in Los Lunas, NM. Los Lunas is part of the Albuquerque MSA and is a growing community only 15 minutes south of Albuquerque via Interstate 25. The Human Bean is operating under a 15-year lease with 10% increases every 5 years. The asset is on Main St which is the main thoroughfare in Los Lunas and Interstate 25 on/off exit. This is a proven trade area with synergy from neighboring tenants including Walmart Supercenter, Maverik, Panda Express, Bank of the West, and Goodwill among many others. In addition to the retailers, this site is surrounded by large employers including Walmart Distribution Center, Niagra Bottling, Amazon, and Facebook server farm in addition to many others. Los Lunas has also seen large residential growth with several new large subdivisions in close proximity to the site. The Human Bean is a rapidly growing coffee chain with over 300 locations located across multiple states. The franchisee of this is a multi-unit operator. The principals of the franchisee have personally guaranteed the lease. The Tenant is operating under an absolute NNN ground lease with zero landlord responsibilities. The Tenant has made a significant investment into this site with their improvements. This investment benefits from the new long-term lease, passive lease structure, and its exceptional location. The site is located on a Walmart outparcel surrounded by numerous retailers, employers, and residential. The passive nature of the lease combined with the strong real estate fundamentals make this property an opportunity on which an investor can capitalize for the foreseeable future.
