cheddar`s

CHEDDAR'S
5755 North Point Parkway, Suite 262
Alpharetta, GA 30022
770.481.1960
www.shanegroup.net
1650 Rinehart Rd, Sanford, FL
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
CONFIDENTIALITY STATEMENT
The Shane Investment Property Group, LLC has been engaged as the exclusive agent and representative of the Owner. No
contacts shall be made by any prospective purchaser or agents to the Owner, its executives, personnel or related entities.
This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner
expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and
expressly reserves the right, at its sole discretion, to terminate discussions with any entity at any time with or without notice.
The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making
an offer to purchase the Property unless and until the Owner executes and delivers a signed Purchase Agreement on terms
acceptable to the Owner, at Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have
acknowledged the foregoing and agrees to release the Owner from any liability with respect hereto.
The enclosed materials are being provided solely to facilitate the prospective purchaser’s own due diligence for which the
purchaser shall be fully and solely responsible.
Neither the Shane Investment Property Group, LLC nor the Owner make any representation or warranty, express or implied,
as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a
promise or representation as to the future performance of the Property. This Investment Offering Brochure may include
certain statements and estimates by the Shane Investment Property Group, LLC with respect to the projected future
performance of the Property. These assumptions may or may not be proven to be correct, and there can be no assurance that
such estimates will be achieved. Further, the Shane Investment Property Group, LLC and the Owner disclaim any and all
liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering
Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be
entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered
Purchase Agreement between it and the Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to the
Owner or the Shane Investment Property Group, LLC, nor any of their officers, employees, representatives, independent
contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised
and encouraged to conduct their own comprehensive review and analysis of the Property.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
INVESTMENT OVERVIEW
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
This offering is a NNN Corporate ground lease to Cheddar’s Casual Café (160 locations, $668 mm sales). Cheddar’s is located in
Sanford, Florida, a northern suburb of Orlando, which has an average HH income about 42% higher than the Orlando area.
Cheddar’s Casual Cafe occupies a prime location, on an outparcel near the Seminole Towne Center, and is at the core of retail for
the Sanford market, with over 2.6 million SF of retail. The property is also adjacent to a 340,000 SF Multi-Family development with
360 Class A units. Other major nearby retailers include Walmart, Super Target, Best Buy, Dick’s, Kohl’s, Sam’s Club and many more.
Cheddar’s Casual Cafe signed a 10 year lease, ending in 2023 (7 years remaining) and 10% increases every 5 years, including the
options. Average Store sales are over $4mm per store. Tenant investment estimated at $2 Million +.
HIGHLIGHTS
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Located near the main entrance of Seminole Towne Center
Corporate NNN Location—7+ Years Remaining
Prime Outparcel / Central to 2.6 million SF of Retail
Superior High Sales per store
Large Parcel: 2.26 Acres
Structure 8,000 +/- Cost to replace estimated at $2mm +
PRICE: $2,737,000 | CAP RATE: 4.75% | 5.22% CAP in 2018
BUILDING: 7,918 SF | LAND: 2.26 ACRES | YEAR BUILT: 2013 | NOI: $130,000
AREA INFORMATION
Cheddar’s Casual Cafe is located in Sanford, FL; part of the Orlando MSA and Seminole County. This submarket is both a local and
regional market and thus has both regional centers, such as Seminole Towne Center, and power centers anchored by Walmart,
Super Target, Best Buy, Dick’s, Kohl's, Sam’s Club, movie theatres, and more. Sanford is a high-barrier to entry market geared to a
higher-income demographic; as noted above—average HH income is about 42% higher than the Orlando area average and about
55% higher than the national average. It is very competitive for retailers to gain entry as most of the area is already developed.
This also helps to push rents in the area with prime shop space over $25 PSF. Retailers have approximately 45,000 households
within a 5 mile radius, as well as the Orlando Sanford International Airport. Sanford is also home to Foreign Trade Zone #250,
which allows significant tax benefits involved in import or export or using imported materials in their operations. This greatly
increases the number of businesses and daytime population in this area.
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
AERIAL RETAIL MAP
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
SITE PLAN
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
Southgate Mixed Use
Development 44 Acres,
including 360 Apartments,
Retail and Restaurants
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
SITE PLAN
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
Southgate Mixed Use Development
44 Acres, including 360 Apartments,
Retail and Restaurants
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
SITE PLAN
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
PHOTOGRAPHS
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
PHOTOGRAPHS
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
PHOTOGRAPHS
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
Seminole Towne Center, directly behind Cheddar’s
Best Buy; located across Rinehart Rd. within direct sight
Walmart; located across Rinehart Rd. within direct sight
Super Target; located nearby
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
TENANT OVERVIEW
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
Simple, honest, natural ingredients. Scratch-made recipes, handcrafted with care and time. This is how our food gets its start.
It’s also how we got ours back in 1979. Our founders, Aubrey Good and Doug Rogers, believed that when a meal is prepared
and cooked fresh just for you, it not only tastes better, it makes you feel good. Of course, this takes time. We’re constantly
chopping, whisking, sautéing and stirring, so we’re ready whenever you’re ready to eat. When you gather at the table with
family and friends at Cheddar’s, we want you to feel looked after and appreciated in a warm, welcoming atmosphere. And we
hope you savor every moment and every bite. It’s what inspires us to start from scratch every day.
HIGHLIGHTS
LEASE ABSTRACT
 Revenues: Exceeding $660 Million
LOCATION MAPS
 Locations: Over 160 locations in 23 states
DEMOGRAPHICS
 Average Store Sales: $4.175 Million
 Employees: over 26,000
 Privately Held Company founded in 1979
See accompanying Confidentiality Statement.
www.cheddars.com
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
LEASE ABSTRACT
Tenant
Cheddar's Casual Café, Inc.
INVESTMENT SUMMARY
Building / Land
7,918 SF / 2.26 Acres
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
Commencement Date
Termination Date
Term
LEASE ABSTRACT
Increases
LOCATION MAPS
Security Deposit
DEMOGRAPHICS
Rent Schedule
NOI
Options
July 31, 2023
10 Years (approximately 7 years remaining) plus Four 5 Year Options
10% every 5 Years, including Options
None
Year
Annual Base Rent
Monthly Base Rent
7/8/13 - 7/31/18
$130,000
$10,833.33
8/1/18 - 7/31/23
$143,000
$11,916.67
$130,000
Four 5 Year Options with 10% increases each option
Taxes
Paid by tenant
Insurance
Paid by Tenant
Maintenance
Paid by Tenant
Utilities
Paid by Tenant
CAM
Landlord Expenses
See accompanying Confidentiality Statement.
July 8, 2013
Paid by Tenant. CAM is paid for common area of the Center including: access drives, curbs, curb cuts,
sidewalks, and other hardscapes. Tenant pays $3,390 in year one, with two percent (2%) increases every
year thereafter to the Association.
None; Tenant pays all expenses
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
LOCATION MAPS
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
CHEDDAR'S
1650 Rinehart Rd, Sanford, FL
770.481.1960 | www.shanegroup.net
DEMOGRAPHICS
INVESTMENT SUMMARY
AERIAL RETAIL MAP
SITE PLANS
PHOTOGRAPHS
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
One Mile
Three Miles
Five Miles
Population
2016 Population
2010 Population
5 Year Projected
Growth Over the Past 5 Years
Projected Growth Over the Next 5 Years
9,216
7,797
10,287
18.20%
11.62%
51,898
45,962
56,266
12.92%
8.42%
117,253
106,730
125,820
9.86%
7.31%
Households
2016 Households
% Owner Occupied
% Renter Occupied
2010 Households
5 Year Projected
Growth Over the Past 5 Years
Projected Growth Over the Next 5 Years
3,944
34.81%
71.88%
3,419
4,374
15.36%
10.90%
19,897
53.58%
46.42%
17,907
21,503
11.11%
8.07%
44,503
55.92%
44.08%
41,213
47,644
7.98%
7.06%
Income
2016 Average Household Income
5 Year Projected
Projected Growth Over the Next 5 Years
$62,548
$69,516
11.14%
$80,414
$88,862
10.51%
$79,514
$87,405
9.92%
2014 Orlando Median Household Income
2013 U.S. Median Household Income
Employment & Establishments
2016 Employees/Daytime Population
2016 Total Establishments
Race
White
Black
Hispanic Origin (Any Race)
American Indian/Eskimo
Asian/Pacific Islander
Two or More Races
Other Race
See accompanying Confidentiality Statement.
$56,634
$51,939
13,577
966
37,079
2,620
72,915
5,874
67.00%
17.50%
27.10%
0.60%
5.10%
4.20%
4.80%
66.50%
20.00%
18.70%
0.40%
5.60%
3.40%
4.00%
68.10%
18.80%
19.60%
0.40%
4.70%
3.40%
4.50%
Notes
Over 117,0005
People Within
Miles
3 Mile Avg H%H
Income is 55
Higher than
National Avg
5 Mile Daytimveer
Population is o
72,000