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Logan's Roadhouse 3250 Airport Blvd

8,200 SF Retail Building Mobile, AL 36606 £1,345,848 (£164/SF) 6.50% Net Initial Yield

Investment Highlights

  • Current rent ($13.41 PSF) is significantly below market rents which exceed $30.00 PSF. Only one tenant renewal option remains.
  • Corporate lease: Logan’s Roadhouse was acquired by SPB Hospitality in June 2020. SPB owns 14 restaurant brands in 38 states—totaling 555 units.
  • Logan’s Roadhouse ranks in the top 22% of Top 500 Highest Grossing Restaurants. Logan’s average sales per store are $3.23 million.
  • Outparcel to Springdale, which is anchored by the 2nd most visited Sam’s Club out of 13 stores in the State
  • Springdale shopping center ranks in the top 4% nationally and top 3% in Alabama for customers to shopping centers: attracting 6.8 million visitors
  • Parent company of Logan’s: SPB Hospitality’s income grew 34% in 2023 over 2022. SPB is a $1.5 billion company.

Data Room Click Here to Access

Property Facts

Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,200 SF
Building Class
B
Year Built
2004
Price
£1,345,848
Price Per SF
£164
Net Initial Yield
6.50%
NOI
£87,496
Tenancy
Single
Number of Floors
1
Building FAR
0.11
Lot Size
1.77 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Frontage
65 ft on Airport Blvd

Amenities

  • Freeway Visibility
  • Signage
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Nearby Major Retailers

Fifth Third Bank
Piccadilly Cafeteria
Crunch
Waffle House
Walk-On's
Starbucks
Orangetheory Fitness
Altitude Trampoline Park
ALDI
Anytime Fitness

PROPERTY TAXES

Parcel Numbers
Multiple
  • 28-06-24-4-000-011.002
  • 28-06-24-4-000-009.004
 Improvements Assessment £419,233
Land Assessment £178,587 Total Assessment £597,821

PROPERTY TAXES

Parcel Numbers
Multiple
  • 28-06-24-4-000-011.002
  • 28-06-24-4-000-009.004
Land Assessment
£178,587
Improvements Assessment
£419,233
Total Assessment
£597,821
(813) 758-8797

Contact

  • Listing ID: 31612166

  • Date on Market: 25/04/2024

  • Last Updated:

  • Address: 3250 Airport Blvd, Mobile, AL 36606

The Retail Property at 3250 Airport Blvd, Mobile, AL 36606 is currently available for sale. Contact Colliers for more information.

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© 2024 CoStar Group

Logan's Roadhouse | 3250 Airport Blvd
(813) 758-8797 x

Logan's Roadhouse | 3250 Airport Blvd

Michael Brewster

(813) 758-8797

(813) 758-8797

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