Red Lobster NNN Investment
For Sale
Contact for pricing
3941 Airport Blvd, Mobile, AL
NNN leased Red Lobster with long term corporate guarantee.
Property Size8,226 SF
Lot Size1.64 Acres
Price / SF$291.95
Days on Market1053
Property Features for 3941 Airport Blvd
General Information
Standard status
Active
Size
8,226 SF
Lot size
1.64 Acres
Property subtype
RETAIL
Listing Agency:
NNN Pro Group
(332) 345-4222
Listed By:
Glen Kunofsky · License #49KU1129178
Source:
Moodyscre
Added: Sep 12, 2023
Changed: Jul 6
Last Checked: Jul 21 at 6:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NNN Pro Group
Investment Insights
Based on property information with market context.
The property features approximately 8,226 rentable square feet of building space on an estimated 1.66-acre parcel of land. Subject to an absolute triple-net (NNN) lease that commenced on 7/01/2016, the Red Lobster offers a long-term investment opportunity. The lease has approximately 15 years remaining. The annual rent will be $166,909 in August 2024 and is scheduled to increase by 2.00% annually throughout the base term and continuing through four, 5-year options. The lease is backed by a Red Lobster corporate guarantee, encompassing over 700 restaurants.
Key Highlights
- Long‑term absolute triple‑net (NNN) lease offers a hands‑off investment.
- Approximately 15 years remaining on the lease providing stable income.
- Attractive 2% annual rental increases boost your return.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.7k | $21.00 |
| − Vacancy | −$6.9k | −$0.84 |
| EGI | $165.8k | $20.16 |
| − OpEx | −$41.5k | −$5.04 |
| NOI | $124.4k | $15.12 |
8,226 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.78M
$1.55M – $2.07M
NOI $124,377 @ 7.0% cap · market cap 5.18%
Second Best
Retail
$1.56M
$1.36M – $1.81M
NOI $108,882 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,354 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Properties on Market for Restaurants in Mobile
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tia’s Tasty Bites — Thornton Pl, Mobile, AL 36609
- Firehouse Subs Airport — 3694 Airport Blvd, Mobile, AL 36608
- Chef Cassie — 1110 Montlimar Dr # 158, Mobile, AL 36609
- Moe's Southwest Grill — 280 McGregor Ave, Mobile, AL 36608
Frequently Asked Questions
What type of property is this?
Restaurant - NNN leased Red Lobster with long term corporate guarantee.
Where is this restaurant located?
The property is located at 3941 Airport Blvd Mobile, AL.
What is the asking price?
The asking price for this property is $2,401,568.
What are key features of this property?
This property features: Long‑term absolute triple‑net (NNN) lease offers a hands‑off investment.; Approximately 15 years remaining on the lease providing stable income.; Attractive 2% annual rental increases boost your return.
