About This Restaurant
Investment Highlights
Long-Term, Absolute Triple Net (NNN) Lease Attractive Two Percent (2%) Annual Rental Increases Approximately 15 Years Remaining
Executive Summary
The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 3941 Airport Blvd, Mobile, AL 36608. The site will consist of roughly 8,226 rentable square feet of building space on estimated 1.66-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 7/01/2016. The annual rent will be $166,909 in August 2024 and is scheduled to increase by 2.00% annually throughout the base term and continuing through 4, 5-Year Options.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 8,226
- Building Class B
- Year Built/Renovated 1972/2005
- Price 2,401,568
- Price Per SF 292
- Cap Rate 6.95
- NOI 166,909
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 1.66 AC
Amenities
- Bus Line
- Pylon Sign
- Signage
Nearby Amenities & Transportation
| Retail | Hooters | ||
| Retail | Panda Express | ||
| Retail | Carrabba's Italian Grill | ||
| Retail | IHOP | ||
| Retail | PNC Bank | ||
| Retail | The Fresh Market | ||
| Retail | Starbucks | ||
| Retail | PJ's Coffee | ||
| Retail | Olive Garden Italian Rstrnt | ||
| Retail | Jason's Deli |
Property Taxes
| Parcel Number | 28-07-26-1-000-009 | Improvements Assessment | $128,480 |
| Land Assessment | $164,720 | Total Assessment | $293,200 |
| Date Created: | 2024-07-16 04:09:19 | Last Updated: | 2024-07-16 04:09:19 |
| Address: | 3941 Airport Blvd , Mobile, Alabama, 36608 | ||