3917 Airport Boulevard Mobile, AL 36608
Four Carrabba's Italian Grill assets in multiple states.
Type:Retail
Property size:
26,707 SFLot size:
7.63 AcresPrice / SF:
$639/SF- Added:
- Mar 28, 2023
- Days on Market:
- 1125
- Last Refresh:
- Mar 17 at 1:23 pm
Property Features for 3917 Airport Boulevard
General Information
- Standard status
- Active
- Size
- 26,707 SF
- Lot size
- 7.63 Acres
- Property subtype
- Retail
Listing agent Chris Bosworth License #GA 248342
Listing office CBRE - Atlanta
Listing date Mar 28, 2023
Source Crexi
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 CBRE - Atlanta
Overview
Carrabba's NNN Lease Portfolio
The Carrabba’s NNN Lease Portfolio consists of 4 Carrabba’s Italian Grill assets totaling 26,707 square feet on 7.63 acres. The properties are located in Alabama, Maryland, Michigan and Ohio, benefiting from strong retail synergies within bustling corridors. The portfolio has a year-one net operating income of $1,134,956, approximately 6.2 years of term remaining, and a corporate guaranty from Bloomin’ Brands, Inc., which is one of the world’s largest casual dining restaurant companies with approximately 1,500 restaurants throughout 47 states, Guam, and 17 countries. The company operates restaurants through a portfolio of leading, differentiated restaurant brands including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar and Aussie Grill. The properties feature annual rent increases (lesser of 1.75% or 1.7x the CPI increase) and four 5-year renewal options. The property at 3917 Airport Boulevard, Mobile, AL 36608 is part of this portfolio.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Carrabba's Italian Grill
Restaurant
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.1453892
- Latitude
- 30.6754199
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Four Carrabba's Italian Grill assets in multiple states.
Where is this conventional restaurant located?
The property is located at 3917 Airport Boulevard Mobile, AL.
What is the asking price?
The asking price for this property is $17,066,800.
What are key features of this property?
This property features: Corporate guaranty from Bloomin’ Brands, Inc. (S&P: BB-); **Year‑one net operating income (NOI) of $1,134,956**; Attractive annual rent increases (lesser of 1.75% or 1.7x the CPI increase)
