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    3917 Airport Blvd Mobile, AL 36608

    For Sale
    $3,628,260

    High-performing Carrabba's, strong lease.

    Property size:
    6,926 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a 6,926-square-foot Carrabba's Italian Grill located at 3917 Airport Blvd, Mobile, Alabama, 36608. The property sits on 1.22 acres within a Mobile MSA population of 428,220. This single-tenant, absolute NNN lease boasts a remaining term of approximately 7.4 years, with four 5-year renewal options, providing significant long-term stability. The lease includes a corporate guarantee from Bloomin' Brands, Inc., mitigating tenant risk. Annual rent increases are structured as the lesser of 1.30 times the CPI increase or 10%, ensuring consistent income growth. The property features a strong operating history, demonstrating a 24% sales increase since 2019. Built in 2002, this well-established restaurant offers a compelling 6.65% cap rate and a substantial net operating income (NOI) of $241,279, with an asking price of $3,628,260 ($523.86 per square foot). This investment presents a rare opportunity to acquire a high-performing, nationally branded restaurant with a secure lease and significant upside potential. The property's location and the tenant's proven track record contribute to its exceptional investment characteristics.

    Property Features for 3917 Airport Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    6,926 SF

    Building Details

    Year Built
    2002

    HighLights

    • Absolute NNN lease with Carrabba's Italian Grill; approximately 7.4 years remaining, four 5‑year options, corporate guarantee from Bloomin' Brands.
    • Annual rent escalations: Lesser of 1.30 times CPI increase or 10%.
    • High‑performing location with established tenant; 24% sales growth since 2019.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carrabba's Italian Grill Italian Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.14540888287
    Latitude
    30.675823062274

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    FAQs

    What type of property is this?
    Restaurant - High-performing Carrabba's, strong lease.
    Where is this restaurant located?
    The property is located at 3917 Airport Blvd Mobile, AL.
    What is the asking price?
    The asking price for this property is $3,628,260.
    What are key features of this property?
    This property features: Absolute NNN lease with Carrabba's Italian Grill; approximately 7.4 years remaining, four 5-year options, corporate guarantee from Bloomin' Brands.; Annual rent escalations: Lesser of 1.30 times CPI increase or 10%.; High-performing location with established tenant; 24% sales growth since 2019.
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    3917 Airport Blvd Mobile, AL 36608
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    Mobile, AL 36608
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3917 Airport Blvd Mobile, AL 36608
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