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Best Buy In Elizabethtown
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Cheddar’s Painted Kitchen (Darden Warranty) 3400 S Dixie Hwy 8, 757 SF Retail Building Elizabethtown, KY 4,336,248 ($495/SF) 5.25%
Full NNN Lease Darden Restaurants, Inc. Guaranteed by Standard & Poor’s and has an “Investment Grade” credit rating of “BBB”. The company operates more than 1,800 restaurants (8 different restaurant brands) and employs more than 160,000 people. The company reported annual revenue of more than $9.6 billion in fiscal 2022, up from $2.19 billion today.
The property owns a casual dining restaurant with a tenant in Cheddar’s Kitchen. Cheddar’s Scratch Kitchen, Darden Restaurant Inc. owned American restaurant chain. The original 15 full year NNN lease has approximately 12.5 years remaining and no management or maintenance obligations to the landlords. No This lease is to Darden Restaurants, Inc. (NYSE: DRI ) provides a rare corporate guarantee
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Long-term leases provide for annual rent increases of 4% for the initial term and 1.5% for 5-year option terms.
Cheddar’s Scratch Kitchen is strategically located at the 4-way traffic light intersection of North Dixie Avenue (21,999 VPD) and Northcrest Drive. The property is directly on the road, with great views of North Dixie Avenue, a major thoroughfare with direct access to downtown Elizabethtown. Local retailers in the immediate vicinity include Best Buy, Barnes & Noble, Chick-fil-A, Kroger, Home Depot, Home Depot, Walmart Supercenter, Sam’s Club and J.P. Elizabethtown is in Hardin County, Kentucky, 45 km south of Louisville and part of the city of Louisville. Elizabethtown’s growing manufacturing sector employs more than 9,500 people and supports businesses. Elizabethtown manufacturers have invested more than $300 million in new and expanded facilities in recent years.
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