The exact translation to this sentence is : there is a cheese that we have (own)
عندنا in this sentence means we own, or we have
so if we said يوجد جبن , it is just : there is a cheese
again عندنا جبن means "we have cheese" = we own cheese. This sentence has the same meaning + يوجد
يوجد in this sentence like already - something which can be presented right now.