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Landlord sought for $1.5 million New Mexico Piñon Coffee location
A New Mexico Piñon Coffee location at 2781 57th NW in Albuquerque in November. The building is available to a new landlord for $1.5 million, but the coffee company will stay put.
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Real estate housing one of New Mexico’s largest coffee roasters is up for grabs, but the company doesn’t plan on going anywhere.
A New Mexico Piñon Coffee location at 2781 57th NW is on the market for $1.5 million, a Commercial Association of Realtors New Mexico listing shows.
The availability comes in the form of a triple net lease, which is “a lease structure where the tenant takes on all the real estate-related responsibilities,” said Alfredo Barrenechea, the building’s current owner and a commercial broker with Absolute Investment Realty.
In a triple net lease agreement, the tenant — in this case, New Mexico Piñon Coffee — handles almost all of the costs associated with the property, including rent, property taxes, insurance, maintenance and repairs, while the landlord primarily collects rent.
The lease structure essentially offers potential buyers an investment property, allowing them to become a landlord with a steady tenant and rent setup.
“Most fast-food buildings out there will have this type of (lease) structure,” Barrenechea said.
It’s typically more cost-effective for a larger tenant to take on the costs associated with renting and maintaining a property than building and owning the property themselves, Barrenechea said. He added that tenants can typically rent and open four to five stores for what it would cost to build one.
Barrenechea and a partner invested in building the 1,185-square-foot New Mexico Piñon Coffee location in 2024. Barrenechea listed the property in early November.
“It’s a great property, great tenant, very happy with it ... but oftentimes what we’ll do is build something, then sell it and take that capital and go build something else,” Barrenechea said. “There’s no reason other than purely a business decision.”
Barrenechea reiterated that New Mexico Piñon Coffee isn’t going anywhere and its operations won’t be impacted by the sale. The regional coffee brand has 11 years remaining on the 12-year lease it has for the property, the CARNM listing shows.
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“We really like serving that side of town (and it’s) not something we plan on changing anytime soon,” said Madison Rumbaugh, the coffee roaster’s director of business development.
