7403 NW Loop 410 Fwy
San Antonio, TX 78245
Cheddar's | 7+ Yr Abs NNN Ground Lease · Retail Property For Sale

SRS Real Estate Partners is pleased to present the opportunity to acquire the leased fee interest (land only) in Cheddar' s Scratch Kitchen, an absolute NNN leased, investment property located in San Antonio, TX. The Cheddar' s is an outparcel to Military Crossing, a 183,000 SF shopping center anchored by Academy Sports, LA Fitness, and dd' s Discounts. The tenant, Cheddar' s, has 7.3 years remaining in their current term with 4 (5-year) option periods. The lease features 10% rental increases every 5 years and at the beginning of each option period, which generates steady NOI growth and hedges against inflation. The lease is absolute NNN with zero landlord responsibilities. Cheddar' s Scratch Kitchen is located along Interstate NW Loop 410 with 196,000 cars per day. The site is also less than a mile away from Texas State Highway 151 (67,000 cars per day) with direct on/off-ramp access. As an outparcel to Military Crossing (anchored by Academy Sports, LA Fitness, and dd' s Discounts), Cheddar' s benefits from tenant synergy and crossover traffic. The subject property is in close proximity to Westover Marketplace, a 400,000 SF retail center anchored by Target Lowe' s, Toy' s R Us, Ross, and PetSmart. Other nearby national/credit tenants include Walmart Supercenter, Gold' s Gym, At Home, and more, which further increases consumer draw to the subject trade area. The center is well-maintained and is located in a densely populated 5-mile trade area that is home to nearly 323,000 residents with an average household income of $59,000.