3917 Airport Boulevard, Mobile, AL 36608

Listing office CBRE - Atlanta

Listing date Mar 28, 2023

Source Crexi

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Overview

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.

Suggested Use

Kitchen & Bath Showroom HVAC Service Electrical Service Nursing Home Nursing Home Garden Center Gym & Fitness Center Bakery (Bike/Boat/Book/etc) Store Tattoo & Piercing Shop

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

Location Insight

• Map
• Local Demand

City

Mobile

County

Mobile

State

Alabama

Longitude

-88.1453892

Latitude

30.6754199

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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)