Carrabba's Italian Grill: Mobile, AL | 3917 Airport Blvd
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Carrabba's Italian Grill: Mobile, AL 3917 Airport Blvd
3,115 SF Retail Building Mobile, AL 36608 $3,628,260 ($1,165/SF) 6.65% Cap Rate
Investment Highlights
- Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7x the CPI increase.
- NNN lease features ±7.6 years of primary term remaining, four 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc.
- Long operating history with strong store sales. Since 2019, sales have increased 24%.
Executive Summary
CBRE is pleased to exclusively offer for sale the 6,926-square-foot Carrabba’s Italian Grill situated on 1.22 acres in Mobile, AL (MSA Population: 428,220). Carrabba’s absolute NNN lease features ±7.6 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc. Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase. This store boasts a long operating history with strong store sales. Since 2019, sales have increased 24%.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,115 SF
Building Class
C
Year Built
2002
Price
$3,628,260
Price Per SF
$1,165
Cap Rate
6.65%
NOI
$241,279
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
1.27 AC
Zoning
GB - General Business
Parking
106 Spaces (34.03 Spaces per 1,000 SF Leased)
Frontage
148 FT on Airport Blvd
Amenities
- Bus Line
- Pylon Sign
- Restaurant
- Signage
- Smoke Detector
Walk Score ®
Very Walkable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 28-07-26-1-000-008 | Improvements Assessment | $149,900 |
| Land Assessment | $99,740 | Total Assessment | $249,640 |
PROPERTY TAXES
Parcel Number
28-07-26-1-000-008
Land Assessment
$99,740
Improvements Assessment
$149,900
Total Assessment
$249,640
-
Christopher Bosworth -
Thomas Carr -
Brian Pfohl -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
Power Broker Christopher Decoufle -
CBRE, Inc.
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Carrabba's Italian Grill: Mobile, AL | 3917 Airport Blvd
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