For Sale
$2,200,000

3250 Airport BlvdMobile, AL 36606

High-traffic, NNN-leased Juicy Crab

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 6,836 square foot, NNN-leased Juicy Crab restaurant located at 3250 Airport Blvd, Unit B6, Mobile, AL 36606. The property sits on a 1.25-acre lot and is an outparcel to Springdale Shopping Center, consistently ranking in the top 4% nationally for shopping center visits. The Juicy Crab enjoys prime visibility on Airport Blvd (54,400 VPD) and convenient access to I-65 (92,600 VPD), benefiting from high traffic volume. Built in 2006 and renovated in 2021, this restaurant boasts strong sales and a 4.5-star Google rating. The current lease, expiring March 31, 2031, includes a 10% rent increase every five years, with the next increase scheduled for April 2026, and a five-year option. The property benefits from a strong surrounding demographic, including over 19,700 college students within 4 miles and 2,650 hotel rooms within a 5-minute drive. Mobile's thriving tourism and robust port activity further enhance the location's appeal. The asking price is $2,200,000, with a current NOI of $165,000 and a 7.50% cap rate. This presents a compelling opportunity for investors seeking a stable, high-performing asset in a prime location. The property's strong tenant, favorable lease terms, and strategic location combine to offer a secure and potentially lucrative investment.

Highlights

  • Significant rent increases are scheduled for April 2026 (10%) and April 2031 (10%).
  • Triple-net lease; no landlord responsibilities.
  • Outparcel to a high-performing Springdale shopping center anchored by a top-performing Sam's Club.
  • Springdale is a top-performing shopping center nationally and in Alabama, drawing 6.8 million annual visitors.
  • The Juicy Crab boasts strong sales, a 4.5-star Google rating, and a prime location in a busy dining area.
  • Strong cross-shopping potential with national co-tenants including Crunch Fitness, Conn's HomePlus, Ulta Beauty, Marshalls, Sam's Club, Burlington, and Shoe Station.

Property Details for 3250 Airport Blvd

Property type
Lifestyle centers, Power centers
Square Feet
6,836 SF
Year Built/Renovated
2006/2021
Lot Size (sq. ft)
54,450 SF

Location Insight

City
Mobile
County
Mobile
State
Alabama
Latitude
30.6796538
Longitude
-88.1238002
3250 Airport Blvd, Mobile, Alabama

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3250 Airport Blvd
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