Restaurant
Cheddar’s Scratch Kitchen (Darden Restaurants, Inc. Corporate Guarantee)
2100 N Green River Rd, Evansville, IN 47715
Listing Price: $3,600,127
Investment Overview
CORPORATE GUARANTEE: DARDEN RESTAURANTS, INC.1 The absolute NNN lease is corporately guaranteed by Darden Restaurants, Inc., which carries an “Investment Grade” credit rating of “BBB” from Standard & Poors. The company operates over 1,850 restaurant locations (with 8 different restaurant brands) and employs over 180,000 people. The company reported annual revenues in excess of $9.9 Billion in FY 2022 and currently boasts an estimated net worth in excess of $2.19 Billion. ABSOLUTE NNN LEASE | 11 YEARS REMAINING The subject property is a freestanding single tenant Cheddars Scratch Kitchen casual dining restaurant. Cheddar’s Scratch Kitchen is an American restaurant chain owned by Darden Restaurants, Inc. Founded in 1979, the company has more than 172 locations in 28 states. There are approximately 11-years remaining on the original 15-year absolute NNN lease, which offers no landlord management or maintenance obligations whatsoever. The lease offers a rare corporate guarantee from Darden Restaurants, Inc. (NYSE: DRI). ANNUAL RENT INCREASES DURING PRIMARY TERM & OPTIONS The long-term lease offers 1.5% annual rent increases during the primary term and each of the 4, 5-year option periods. 4-WAY SIGNALIZED CORNER LOCATION CENTRALLED LOCATED IN DENSE RETAIL HUB The subject property is strategically located at the 4-way signalized intersection of North Green River Road (20,771 VPD) and Theater Drive. The property is near the Eastland Mall, an indoor mall property spanning over 1 million square feet and one of the largest malls in Indiana. There are an abundance of national retailers in the immediate trade area including Walmart Supercenter, Lowe’s and Sam’s Club, Verizon, Mejer, and more. The property is also located next to the main thoroughfares, E Morgan Avenue and Interstate 69 (30,000 VPD), which provides direct access to Downtown Evansville and regional markets.
Investment Highlights
- CORPORATE GUARANTEE: DARDEN RESTAURANTS, INC.
- ABSOLUTE NNN LEASE | 11 YEARS REMAINING
- ANNUAL RENT INCREASES DURING PRIMARY TERM & OPTIONS
- 4-WAY SIGNALIZED CORNER LOCATION CENTRALLED LOCATED IN DENSE RETAIL HUB
Exclusively Listed By
Broker of Record
Financing By
Restaurant
Cheddar’s Scratch Kitchen (Darden Restaurants, Inc. Corporate Guarantee)
Listing Price: $3,600,127
Investment Highlights
- CORPORATE GUARANTEE: DARDEN RESTAURANTS, INC.
- ABSOLUTE NNN LEASE | 11 YEARS REMAINING
- ANNUAL RENT INCREASES DURING PRIMARY TERM & OPTIONS
- 4-WAY SIGNALIZED CORNER LOCATION CENTRALLED LOCATED IN DENSE RETAIL HUB
Investment Overview
CORPORATE GUARANTEE: DARDEN RESTAURANTS, INC.1 The absolute NNN lease is corporately guaranteed by Darden Restaurants, Inc., which carries an “Investment Grade” credit rating of “BBB” from Standard & Poors. The company operates over 1,850 restaurant locations (with 8 different restaurant brands) and employs over 180,000 people. The company reported annual revenues in excess of $9.9 Billion in FY 2022 and currently boasts an estimated net worth in excess of $2.19 Billion. ABSOLUTE NNN LEASE | 11 YEARS REMAINING The subject property is a freestanding single tenant Cheddars Scratch Kitchen casual dining restaurant. Cheddar’s Scratch Kitchen is an American restaurant chain owned by Darden Restaurants, Inc. Founded in 1979, the company has more than 172 locations in 28 states. There are approximately 11-years remaining on the original 15-year absolute NNN lease, which offers no landlord management or maintenance obligations whatsoever. The lease offers a rare corporate guarantee from Darden Restaurants, Inc. (NYSE: DRI). ANNUAL RENT INCREASES DURING PRIMARY TERM & OPTIONS The long-term lease offers 1.5% annual rent increases during the primary term and each of the 4, 5-year option periods. 4-WAY SIGNALIZED CORNER LOCATION CENTRALLED LOCATED IN DENSE RETAIL HUB The subject property is strategically located at the 4-way signalized intersection of North Green River Road (20,771 VPD) and Theater Drive. The property is near the Eastland Mall, an indoor mall property spanning over 1 million square feet and one of the largest malls in Indiana. There are an abundance of national retailers in the immediate trade area including Walmart Supercenter, Lowe’s and Sam’s Club, Verizon, Mejer, and more. The property is also located next to the main thoroughfares, E Morgan Avenue and Interstate 69 (30,000 VPD), which provides direct access to Downtown Evansville and regional markets.
Exclusively Listed By
Broker of Record
-
Josh Caruana
First Vice President/District Manager
Financing By

