Carrabba's NNN Lease
For Sale
Contact for pricing
3917 Airport Boulevard, Mobile, AL 36608
Four Carrabba's Italian Grill assets in multiple states.
Property Size26,707 SF
Lot Size7.63 Acres
Price / SF$639.04
Days on Market1243
Property Features for 3917 Airport Boulevard
General Information
Standard status
Active
Size
26,707 SF
Lot size
7.63 Acres
Property subtype
Retail
Zoning
C-4
Listing Agency:
CBRE - Atlanta
(407) 839-3123
Listed By:
Chris Bosworth · License #GA 248342
Source:
Crexi
Added: Mar 28, 2023
Changed: Aug 20
Last Checked: Aug 20 at 12:56PM
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
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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)
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36608, AL
39,782
Population
17,690
Households
2.2
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
65.1 sq mi
ZIP Area
611
Density / Sq Mi
$64,372
Median Household Income
$37,530
Median Earnings
$1,045
Median Rent
$234,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Feast Buffet — 3725 Airport Blvd Suite 203, Mobile, AL 36608
Frequently Asked Questions
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)
