11371 W Oldenburg Ln
Galena, IL 61036
Retail Property For Sale

Marcus & Millichap is proud to present the fee simple interest in the Culver's restaurant located at 11371 Oldenburg Lane, Galena, Illinois. The freestanding restaurant was built-to-suit for Culver's in 1999 and consists of 4,287 square feet, positioned on 1.92 acres in the heart of the retail corridor in Galena. Culver’s is located ½ mile from Walmart Supercenter. The property is owned by a successful multi-unit franchisee who will sign a new 15-year lease at close of escrow, with four, five-year options at the tenants choice. The lease will be absolute net in nature, starting at $170,000 per year. An incoming landlord will have zero management responsibility. The tenant offers ten percent rental escalations every five years throughout the base lease term and options, which gives a buyer a strong hedge against inflation. Culver's was remodeled in 2013 and the operator plans to invest some of the proceeds into another substantial exterior and interior remodel, which has proven to increase sales further. The Galena franchisee reports increasing store sales at this location and the Culver's brand has reported increasing year over year sales across the company. Founded in 1984 in Sauk City, WI, Culver's is a privately owned & operated quick service restaurant that has grown to 710 locations in 24 states throughout the U.S. Forbes named Culver's the #1 franchise to invest in in 2016.