For Sale
$3,628,260

3917 Airport Blvd Mobile, AL 36608

High-performing Carrabba's, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 6,926-square-foot Carrabba's Italian Grill located at 3917 Airport Blvd, Mobile, Alabama, 36608. The property sits on 1.22 acres within a Mobile MSA population of 428,220. This single-tenant, absolute NNN lease boasts a remaining term of approximately 7.4 years, with four 5-year renewal options, providing significant long-term stability. The lease includes a corporate guarantee from Bloomin' Brands, Inc., mitigating tenant risk. Annual rent increases are structured as the lesser of 1.30 times the CPI increase or 10%, ensuring consistent income growth. The property features a strong operating history, demonstrating a 24% sales increase since 2019. Built in 2002, this well-established restaurant offers a compelling 6.65% cap rate and a substantial net operating income (NOI) of $241,279, with an asking price of $3,628,260 ($523.86 per square foot). This investment presents a rare opportunity to acquire a high-performing, nationally branded restaurant with a secure lease and significant upside potential. The property's location and the tenant's proven track record contribute to its exceptional investment characteristics.

Highlights

  • Absolute NNN lease with Carrabba's Italian Grill; approximately 7.4 years remaining, four 5-year options, corporate guarantee from Bloomin' Brands.
  • Annual rent escalations: Lesser of 1.30 times CPI increase or 10%.
  • High-performing location with established tenant; 24% sales growth since 2019.

Property Details for 3917 Airport Blvd

Property type
Retail properties, Restaurants
Square Feet
6,926 SF
Year Built
2002

Location Insight

City
Mobile
County
Mobile
State
Alabama
Latitude
30.675823062274
Longitude
-88.14540888287

FAQs

What type of property is this?
Retail property - High-performing Carrabba's, strong lease.
Where is the retail property located?
The property is located at 3917 Airport Blvd Mobile, AL.
What is the asking price?
The asking price for this property is $3,628,260.
What are key features of this property?
This property features: Absolute NNN lease with Carrabba's Italian Grill; approximately 7.4 years remaining, four 5-year options, corporate guarantee from Bloomin' Brands.; Annual rent escalations: Lesser of 1.30 times CPI increase or 10%.; High-performing location with established tenant; 24% sales growth since 2019.
How can I contact the broker?
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3917 Airport Blvd
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