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Restaurant

Red Lobster

3941 Airport Blvd, Mobile, AL 36608

Listing Price: $2,621,368

Cap Rate
5.88%
Tenant Name
Red Lobster
Years Remaining On Lease
18.0
Gross SF
8,226
Guarantor
Corporate Guarantee
Rentable SF
8,226
Price/Gross SF
$318.67
Lease Type
Absolute Net
Rent Per Square Feet
$18.75

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 3941 Airport Boulevard in Mobile, AL. The site consists of roughly 8,226 rentable square feet of building space on an estimated 1.67-acre parcel of land. This Red Lobster is subject to a 23.1-year absolute triple-net (NNN) lease, which commenced July 01, 2016. The current annual rent is $151,175 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Investment Highlights

  • Long-Term, 23.1-Year Absolute Triple-Net (NNN) Lease with 19.4 Years Remaining
  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Listing Price: $2,621,368

Cap Rate
5.88%
Tenant Name
Red Lobster
Years Remaining On Lease
18.0
Gross SF
8,226
Guarantor
Corporate Guarantee
Rentable SF
8,226
Price/Gross SF
$318.67
Lease Type
Absolute Net
Rent Per Square Feet
$18.75

Investment Highlights

  • Long-Term, 23.1-Year Absolute Triple-Net (NNN) Lease with 19.4 Years Remaining
  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 3941 Airport Boulevard in Mobile, AL. The site consists of roughly 8,226 rentable square feet of building space on an estimated 1.67-acre parcel of land. This Red Lobster is subject to a 23.1-year absolute triple-net (NNN) lease, which commenced July 01, 2016. The current annual rent is $151,175 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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