October 12, 2023 – Greg Moore of Horvath & Tremblay has successfully completed the sale of Cheddar’s Scratch Kitchen in Louisville, Kentucky. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,510,269.
Cheddar’s Scratch Kitchen is located at 3521 Outer Loop in Louisville, Kentucky. Cheddar’s Scratch Kitchen has 10+ years remaining on their Absolute NNN lease with four (4), 5-year renewal options. The lease is guaranteed by Darden Restaurants, Inc and calls for attractive 1.5% annual rent increases throughout the primary lease term and each renewal option providing a steady increase in income and an attractive hedge against inflation. The building was constructed in 2010 and consists of an 8,480 square foot building on a 2.34-acre parcel. The property is strategically located in southeastern Louisville at the signalized intersection of Minor Lane and Outer Loop, one of the area’s primary commercial and commuter corridors. The Property benefits from outstanding frontage and visibility and is 0.5-miles from Interstate 65 and KY Route 61. The Property is also close to a newer Zapos (Amazon) distribution center, the Jefferson Mall, and the Louisville International Airport, all of which drive traffic to the immediate area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.