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    Cheddar’s Scratch Kitchen
    $3,080,000
    Plus Tampa, FL
    Lease Type
    Ground
    Cap Rate
    5%
    Property Type

    Retail

    Building Size
    8,000 SF
    NOI
    $154,000
    Land Area
    2.02 AC
    Remaining Term
    11 Years
    Status
    Sold
    Michael Zimmerman
    Michael Zimmerman
    Founder
    Property Highlights
    Long-Term Investment Opportunity

    This Cheddar’s Scratch Kitchen asset features a 15-year Ground lease backed by a strong corporate guarantee from Cheddar’s Casual Café, Inc., a wholly owned subsidiary of Darden Restaurants, Inc. (NYSE: DRI). At least 10 years remain on the original lease term. Additionally, the lack of any landlord management responsibilities makes this property an ideal asset for the passive investor.

    High-Traffic, Dense Retail Location

    The property’s prominent positioning along North Dale Mabry Highway allows for extremely high traffic counts in excess of 74,500 vehicles per day. Cheddar’s Scratch Kitchen sits near numerous national retailers, including Outback Steakhouse, Barnes & Noble, Dunkin’, Starbucks and Carrabba’s Italian Grill. Also, the property sits near the Publix-anchored Carrollwood Shopping Center.

    Within the Greater Tampa Bay Area

    The area immediately surrounding the property has seen population growth over the past decade of nearly 45 percent. Over 316,000 people live within five miles of this Cheddar’s Scratch Kitchen site. The Greater Tampa Bay area boasts a population of at least four million. The Port of Tampa and Tampa International Airport (TPA) make Tampa Bay an easily accessible, popular destination in Florida for tourists and business visitors alike.

    Cheddar’s Scratch Kitchen
    Tampa, FL
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