Fort Worth, TX - Cheddar's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute triple-net leased Cheddar’s Scratch Kitchen with a Darden Restaurants (BBB S&P) guaranty located in Fort Worth, Texas. The tenant, Cheddar’s Scratch Kitchen, operates under an investment-grade corporate guaranty with a triple -net lease and 11 years remaining on its initial term, plus four (5-year) options to extend. The lease features annual 1.50% rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is an absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for an investor.

The site is located along Interstate 820, the major retail thoroughfare in Fort Worth, with excellent frontage visibility on this high-trafficked street with approximately 111,700 vehicles per day. The property is in the center of a primary retail corridor surrounded by other national/credit tenants, including Walmart Supercenter, AMC Theaters, Home Depot, Lowe’s, Chipotle, Starbucks, Spec’s, Staples, and more, further increasing consumer traffic to the site. The Cheddars is located near Lake Worth Towne Crossing, a Target-anchored center that also includes Five Below, Ross Dress for Less, PetSmart, Hobby Lobby, and Michaels. In addition, the asset is near Lake Worth Marketplace, a shopping center anchored by Kohl’s and Marshalls. Cheddar’s further benefits from easy access to Highway 199, with over 42,000 vehicles per day. The subject property is located in the 5-mile trade area supported by a population of over 173,000 and over 56,000 employees with an average household income of $103,000.

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Listing ID: a28TP000002QeThYAK