Culver’s – Sale Leaseback

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Culver’s – Sale Leaseback

45160 Marketplace Blvd Chesterfield MI Macomb County

Sales Price: $3,847,895

Cap Rate: 4.75%

Contact Person(s): Matthew Swantko
Maxwell Lippitt
Daniel Kukes
Jason Greenspan

Description:

NEW 20 YEAR SALE LEASEBACK | STRONG FRANCHISEE CREDIT

  • Franchisee will sign a new 20-year lease with four, five-year options with rent commencing upon closing
  • 2.00% annual rent increases
  • Starting rent will be set at 7.50% of 2021 sales
  • Full personal guarantee by long term operator

ABSOLUTE NNN LEASE –ZERO LANDLORD RESPONSIBILITIES

  • Tenant directly pays for all taxes, insurance and common area maintenance
  • Tenant is responsible for roof, structure, parking lot, HVAC, etc.

STRONG STORE SALES | 20% INCREASE IN 2020-2021 REVENUE

2019 CONSTRUCTION | BUILD-TO-SUIT FOR CULVER’S

GROWING FAST FOOD CHAIN

  • Culver’s recently ranked #2 in annual sales growth among the 10 largest burger chains in the U.S. according to the TechnomicChain Restaurant Report
  • Culver’s has over 800 locations across 25 states and approximately 25,000 employees.

Building Size: 4,057 SF

Lot Size: 1.63 AC

Traffic Count: I-94 (96,729 VPD)
Hall Rd (50,288 VPD)

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 4,378 52,685 165,337
Avg. HH Income: $102,242 $86,449 $95,472

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.