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

3,115 SF Retail Building Mobile, AL 36608 £2,862,697 (£919/SF) 6.65% Net Initial Yield

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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%.