Restaurant

Cheddars Scratch Kitchen

3074 N Eastman Road, Longview, TX 75605

Listing Price: $4,571,429

Cap Rate
5.25%
Tenant Name
Cheddars
Years Remaining On Lease
9.9
Guarantor
Corporate Guarantee
Rentable SF
8,060
Lease Type
Absolute Net
Rent Per Square Feet
$29.78

Investment Overview

Marcus & Millichap is pleased to present for sale Cheddars Scratch Kitchen a single-tenant property located at 3074 N Eastman Road, Longview, Texas 75605. The subject property is comprised of 8,060 square feet built in 2005. The building sits on a large 1.97 Acre lot with frontage on US Highway 259 that oversees 23,000+ Vehicles Per Day. Firestone benefits from a substantial built-in customer base with a population of 120,000+ & 45,000+ households in a 10-mile radius, as well as an average household income of $73,000. Strategically located, Cheddars sits in the heart of a major retail corridor in Longview surrounded by national retailers such as: Target, Walmart, Sam’s Club, Lowes, Home Depot, PetSmart, & Tractor Supply to name a few. Founded in 1979, Cheddar’s Scratch Kitchen is an American restaurant brand based in Irving, Texas. Now wholly owned by Darden Restaurants, Inc., Cheddar’s operates 171 company-owned and franchise location in 28 U.S. states. Cheddar’s serves a variety of made-from-scratch dishes, from homemade onion rings and chicken pot pies to house-smoked baby back ribs. In 2016, Restaurant Business ranked Cheddar’s No. 3 on its list of the “20 Top Full-Service Chains in Sales and Satisfaction.” That same year, Cheddar’s was named a “Favorite Casual Dining Restaurant” in a Market Force Study.

Investment Highlights

  • Absolute-Net Lease: No Landlord Responsibilities; New Year Lease with Two, 5 Year Options to Extend; Tenant Extended Lease Early Showing Commitment to Location
  • Strong Corporate Guaranty: Darden Restaurant Inc. is the Worlds Largest Full Service Restaurant Company with more than 1,700 Restaurants Serving Nearly 390 Million Guest Each Year
  • Substantial Demographics: In a 10 Mile Radius the Population Exceeds 120,000+; Households 45,000+ and an Average Household Income of $73,000+

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

Listing Price: $4,571,429

Cap Rate
5.25%
Tenant Name
Cheddars
Years Remaining On Lease
9.9
Guarantor
Corporate Guarantee
Rentable SF
8,060
Lease Type
Absolute Net
Rent Per Square Feet
$29.78

Investment Highlights

  • Absolute-Net Lease: No Landlord Responsibilities; New Year Lease with Two, 5 Year Options to Extend; Tenant Extended Lease Early Showing Commitment to Location
  • Strong Corporate Guaranty: Darden Restaurant Inc. is the Worlds Largest Full Service Restaurant Company with more than 1,700 Restaurants Serving Nearly 390 Million Guest Each Year
  • Substantial Demographics: In a 10 Mile Radius the Population Exceeds 120,000+; Households 45,000+ and an Average Household Income of $73,000+

Investment Overview

Marcus & Millichap is pleased to present for sale Cheddars Scratch Kitchen a single-tenant property located at 3074 N Eastman Road, Longview, Texas 75605. The subject property is comprised of 8,060 square feet built in 2005. The building sits on a large 1.97 Acre lot with frontage on US Highway 259 that oversees 23,000+ Vehicles Per Day. Firestone benefits from a substantial built-in customer base with a population of 120,000+ & 45,000+ households in a 10-mile radius, as well as an average household income of $73,000. Strategically located, Cheddars sits in the heart of a major retail corridor in Longview surrounded by national retailers such as: Target, Walmart, Sam’s Club, Lowes, Home Depot, PetSmart, & Tractor Supply to name a few. Founded in 1979, Cheddar’s Scratch Kitchen is an American restaurant brand based in Irving, Texas. Now wholly owned by Darden Restaurants, Inc., Cheddar’s operates 171 company-owned and franchise location in 28 U.S. states. Cheddar’s serves a variety of made-from-scratch dishes, from homemade onion rings and chicken pot pies to house-smoked baby back ribs. In 2016, Restaurant Business ranked Cheddar’s No. 3 on its list of the “20 Top Full-Service Chains in Sales and Satisfaction.” That same year, Cheddar’s was named a “Favorite Casual Dining Restaurant” in a Market Force Study.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

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