For Sale
$3,628,260

3917 Airport BlvdMobile, AL 36608

High-performing Carrabba's, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
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
3917 Airport Blvd, Mobile, Alabama

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3917 Airport Blvd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message