3917 Airport Blvd - Restaurant FOR SALE


Mobile, AL 36608
$3,628,260 USD
404-441-3849
3917 Airport Blvd, Mobile, AL for Sale
$3,628,260 USD
Restaurant - FOR SALE
1/4
null | 6.65% Cap Rate

3917 Airport Blvd
Mobile, AL 36608


HIGHLIGHTS

  • Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7x the CPI increase.
  • Long operating history with strong store sales. Since 2019, sales have increased 24%.
  • NNN lease features ±7.6 years of primary term remaining, four 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc.

OVERVIEW

CBRE is pleased to exclusively offer for sale the 6,926-square-foot Carrabba’s Italian Grill situated on 1.22 acres in Mobile, AL (MSA Population: 428,220). Carrabba’s absolute NNN lease features ±7.6 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc.  Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase. This store boasts a long operating history with strong store sales. Since 2019, sales have increased 24%.

FOR SALE DETAILS

PRICE

$3,628,260 USD

PRICE/SF

$1,165 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carrabba's Italian Grill: Mobile, AL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

106

LAND DETAILS

LAND ACRES

1.27 AC

LAND SF

55,321 SF

ZONING

GB

APN/PARCEL ID

28-07-26-1-000-008

ASK ABOUT THIS PROPERTY

Christopher BosworthCBRE, Inc.More Info
404-441-3849

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Christopher BosworthCBRE, Inc.More Info
404-441-3849

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.