3941 Airport BlvdMobile, AL 36608

Property Details for 3941 Airport Blvd

Year built

1972

Lot size

1.64 AC

Property size (Sq ft)

8,073 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

28 07 26 1 000 009.XXX

APU

2807261000009XXX

Description

This exceptional 8,226 square foot vacant restaurant space presents a unique investment opportunity in Mobile, Alabama. Located at 3941 Airport Boulevard, this fee-simple property boasts a prime location on a high-traffic corridor, with Airport Boulevard seeing 62,600 vehicles per day and Interstate 65 boasting 96,600 vehicles per day. The property sits on a 1.64-acre lot and includes 145 parking spaces, ensuring ample convenience for patrons. Built in 2005, the building is zoned B-2 - Neighborhood Business, offering flexibility for a variety of restaurant concepts. The property's strategic location benefits from proximity to significant retail centers, including McGregor Square (193,000 square feet), Festival Centre (398,000 square feet), and Springdale (662,000 square feet), further enhancing its appeal and potential for success. The strong demographics within a 5-mile radius provide a robust customer base. This former Red Lobster location offers a turnkey opportunity for an experienced restaurateur or a developer seeking a high-visibility site in a thriving commercial area. The property's size, parking, and zoning make it an ideal candidate for a variety of restaurant concepts. The parcel number is 28 07 26 1 000 009.XXX. This is a rare chance to acquire a well-situated, substantial restaurant property in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,881,936

  6.5%

  $1,737,172

  7%

  $1,613,088

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,551,855

  Geo Method

  $1,446,252

• Alternative Use

  Use

  Valuation

  Residential

  $1,465,369

  Hospitality

  $1,342,270

  Educational

  $1,116,753

  Medical

  $1,155,160

  Retail

  $1,737,172

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6752

Longitude

-88.146

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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