The Human Bean Ground Lease 1605 Buford Highway, Cumming, Georgia

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The Human Bean Ground Lease 1605 Buford Highway, Cumming, Georgia THE HUMAN BEAN GROUND LEASE 1605 BUFORD HIGHWAY, CUMMING, GEORGIA REPRESENTATIVE PHOTO OFFERING MEMORANDUM DOWNTOWN CUMMING MCDONALD'S 985 19 20 The information in this package 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus Millichap. MARCUS & MILLICHAP 2 // The Human Bean Ground Lease Executive Summary 1605 Buford Highway, Cumming, GA 30041 FINANCIAL SUMMARY ANNUALIZED OPERATING DATA Price $638,000 Lease Years Annual Rent Cap Rate Cap Rate 5.25% 1 - 5 $33,500.00 5.25% Building Size 675 SF 6 - 10 $36,850.00 5.78% Net Cash Flow 5.25% $33,500 Options Annual Rent Cap Rate Year Built 2021 Option 1 $40,535.00 6.35% Lot Size .3458 Acres Option 2 $44,588.50 6.99% LEASE SUMMARY Lease Type Absolute Triple-Net (NNN) Ground Lease Base Rent $33,500 Tenant AMJ Company, LLC dba “The Human Bean” Net Operating Income $33,500 Personal Guaranty by Justin Fitzhugh and Guarantor Total Return 5.25% $33,500 Aaron Nickelson* Roof & Structure Tenant Responsible Rent Commencement Date April 1, 2021 Lease Expiration Date April 30, 2031 Lease Term 10 Years Rental Increases 10% Every 5 Years Renewal Options 2, 5 Year Options *”Following the third (3rd) anniversary of the Rent Commencement date, pro- vided that Tenant has opened and is operating at least five (5) The Human Bean locations, then this Guaranty shall convert to a rolling twelve (12) month Guaranty whereby Guarantor’s liability shall be limited to a maximum of twelve (12) months of Minimum Rent and Additional Rent.” ** Store Opening scheduled for May 2021. MARCUS & MILLICHAP 3 // The Human Bean Ground Lease BURGER KING 19 20 Walgreens MCDONALD'S MARCUS & MILLICHAP 4 // The Human Bean Ground Lease Forsyth County Fire Station UNDER DEVELOPMENT MCDONALD’S Walgreens 45,500 CPD BUFORD HWY One White Oak Apartments 202 Units MARCUS & MILLICHAP 5 // The Human Bean Ground Lease Property Description DEMOGRAPHICS 1-mile 3-miles 5-miles Population 2025 Projection 4,091 45,560 121,709 2020 Estimate 3,368 38,713 105,234 Growth 2020 – 2025 21.48% 17.69% 15.66% Households 2025 Projection 1,352 16,175 42,561 2020 Estimate 1,125 13,730 36,695 Growth 2020 – 2025 20.18% 17.81% 15.99% REPRESENTATIVE PHOTO Income 2020 Est. Average $155,852 $143,816 $140,321 Household Income INVESTMENT HIGHLIGHTS 2020 Est. Median $122,734 $111,106 $107,739 Household Income » Brand New 10-Year Absolute Triple-Net (NNN) Ground Lease 2020 Est. Per $52,053 $51,134 $49,004 » 10% Rental Increases Every 5 Years Capita Income » Scheduled Opening for May 1, 2021 » High-Quality 2021 Construction with a Drive-Thru » 105,234 Residents within a 5-Mile Radius - Atlanta MSA » Surrounded by National Retailers - Taco Bell, McDonald’s, Walgreens, ALDI, Wells Fargo, Advance Auto Parts, and More » Average Household Income Exceeds $155,000 in Immediate Area » Down the Road from Publix Super Market-Anchored Center » Situated Along Buford Highway (45,500+ Cars/Day) » Less Than 2 Miles via Buford Highway from Cumming’s Primary Retail Corridor MARCUS & MILLICHAP 6 // The Human Bean Ground Lease REPRESENTATIVE PHOTO Tenant Overview Private Medford, Oregon 1998 200+ www.thehumanbean.com Company Type Headquarters Founded Locations Website With a passion for creating happy people and a love of coffee, The Human Bean to over 200 locations open or under development in twenty states. Growth is opened its first drive-thru espresso stand in Ashland, Oregon, in 1998. The expected to continue through approved franchisees. demand for convenient, quality coffee & espresso grew and soon after opening The Human Bean features a number of House Specialty espresso drinks, the first location in Ashland, the company expanded to surrounding cities in including the Snowy Mocha, Mexi Mocha, Salted Caramel, Irish Cream Breve, Southern Oregon. The Human Bean quickly established a reputation for having and Caramel Hazelnut. Along with their classic coffee and teas, The Human Bean friendly and experienced baristas and offering the highest quality ingredients. also offers a selection of Frozen Favorites, including a Granita (frozen espresso), A commitment to developing the best drive-thru espresso led to the franchising of Acai Smoothie, Real Fruit Smoothie, and Frozen Hot Chocolate. The Human Bean’s brand and system in 2002. The Human Bean has expanded MARCUS & MILLICHAP 7 // The Human Bean Ground Lease Location Overview 2 Miles to Northside Hospital Forysth 12 Miles to Mall of Georgia 38 Miles to Downtown Atlanta 47 Miles to Hartsfield-Jackson Atlanta International Airport (ATL) Cumming is a city in, and the county seat of, Georgia’s Forsyth County. Part of the Metro Atlanta is recognized as an international gateway city and is also consid- Atlanta metropolitan area, Cumming has an estimated population of over 6,500 ered to be both an emerging Tier 1 technology hub and the established economic residents. The completion of Georgia 400’s Hospitality Highway helped turn the engine of the Southeast. The city’s thriving economy and job base, coupled with city into a commuter town for metropolitan Atlanta. its high quality of life and low cost of living, make it an ideal destination to draw educated talent from the region’s major universities. With an overall population The city’s lakes and outdoor recreation attract tourists, which in turn generates of 5.9 million throughout the 29-county metro area, Atlanta is the ninth-largest income for the city. Sawnee Mountain Preserve, a 963-acre preserve, offers hiking Metropolitan Statistical Area in the United States. trails, playgrounds, picnic pavilions, amphitheater, and a visitor center. Bald Ridge and Habersham Marinas are situated on Lake Sidney Lanier where there is year- Atlanta has held its place in the top five cities for Fortune 500 headquarters for round fishing, boating, swimming, and camping. over a decade. Twenty-six Fortune 1000 companies have headquarters in Atlanta and more than 70% of the Fortune 1000 firms have operations in the metro area. MARCUS & MILLICHAP 8 // The Human Bean Ground Lease [ exclusively listed by ] Alex Frankel Mark J. Ruble Chris N. Lind Jamie A. Medress John Leonard Associate Advisor Executive Managing Director Senior Vice President Executive Managing Director Broker of Record 602.687.6697 602 687 6766 602 687 6780 602 687 6778 License: 252904 [email protected] [email protected] [email protected] [email protected] Offices Nationwide www.marcusmillichap.com NET LEASED DISCLAIMER entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows: herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees By accepting this Marketing Brochure, you agree to treat the information contained herein regarding the lease terms as that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject confidential and proprietary and to only use such information to evaluate a potential purchase of this net leased property. property at this time, please return this offering memorandum to Marcus & Millichap. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, This offering memorandum has been prepared to provide summary, unverified financial and physical information Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any about the accuracy or completeness of any information provided. investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in due diligence examination of this Property for Buyer. this offering memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of represent the current or future performance of this property. The value of a net leased property to you depends on factors the information provided.
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