3917 Airport Blvd Mobile, AL 36608
- Turn key restaurants
- 7,121 SF
- 1.27 lot acres
Current Use by Public Records
- Carrabba's Italian Grill / American Restaurant / Bar
Property Details for 3917 Airport Blvd
- Year built
- 2002
- Lot size
- 1.27 lot acres
- Property size
- 7,121 SF
- Property type
- Turn key restaurants
- APN
- 28 07 26 1 000 008.XXX
- APU
- 2807261000008XXX
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.1455
- Latitude
- 30.6753
- CBSA code
- 33660
- CBSA name
- MOBILE, AL METROPOLITAN STATISTICAL AREA
