3941 Airport Blvd, Mobile, AL

Listing agent Glen Kunofsky License #49KU1129178

Listing office NNN Pro Group g***@nnnpro.com Show Phone

Listing date Sep 12, 2023

Source Moodyscre

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Overview

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.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Mobile

County

Mobile

State

Alabama

Longitude

-88.146

Latitude

30.6755

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FAQs

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.