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    3917 Airport Blvd Mobile, AL 36608

    For Sale
    $16,376,420

    Four-state, NNN-leased restaurant portfolio

    Property size:
    26,707 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a portfolio of four Carrabba's Italian Grill restaurants, strategically located across Alabama, Maryland, Michigan, and Ohio. The portfolio totals 26,707 square feet situated on 7.63 acres of land, boasting a strong 100% occupancy rate. Each location benefits from its position within thriving retail corridors, ensuring consistent customer traffic. The current lease, an absolute NNN lease with a corporate guarantee from Bloomin' Brands, Inc., commenced March 14, 2012, and expires March 31, 2032, providing a substantial remaining lease term of approximately 7.4 years. The lease includes attractive annual rent increases, calculated as the lesser of 1.75% or 1.7 times the CPI increase, offering built-in protection against inflation. Furthermore, four five-year renewal options provide long-term stability and growth potential. The portfolio generates a substantial net operating income (NOI) of $1,115,435, representing a compelling 6.81% cap rate on the asking price of $16,376,420, or $613.19 per square foot. This portfolio offers a rare opportunity to acquire a diversified, high-performing restaurant investment with significant upside potential. The financial strength and brand recognition of Bloomin' Brands, Inc., a leading casual dining company with a substantial national presence, further enhances the security and appeal of this investment. Offers on individual properties and the entire portfolio are welcome.

    Property Features for 3917 Airport Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    26,707 SF
    Lot Size
    332,363 SF

    HighLights

    • $16,376,420 asking price for a portfolio of four Carrabba's Italian Grill restaurants.
    • Absolute NNN lease structure with corporate guarantee from Bloomin' Brands, Inc.
    • Approximately 7.6 years remaining lease term with four 5‑year options.
    • Totaling 26,707 square feet on 7.63 acres across four states (AL, MD, MI, OH).
    • $1,115,435 in year‑one net operating income (NOI) and a 6.81% cap rate.
    • Annual rent increases of the lesser of 1.75% or 1.7 times the CPI increase.
    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
    -88.145341
    Latitude
    30.6754259

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    FAQs

    What type of property is this?
    Restaurant - Four-state, NNN-leased restaurant portfolio
    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 $16,376,420.
    What are key features of this property?
    This property features: $16,376,420 asking price for a portfolio of four Carrabba's Italian Grill restaurants.; Absolute NNN lease structure with corporate guarantee from Bloomin' Brands, Inc.; Approximately 7.6 years remaining lease term with four 5-year options.
    Request Owner's contact information
    3917 Airport Blvd 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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