Carrabba's Italian Grill: Mobile, AL 3917 Airport Blvd

Investment Highlights

Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7x the CPI increase. NNN lease features ?7.9 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 ?7.9 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%.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant
• Building Size    3,115
• 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

• Bus Line
• Pylon Sign
• Signage