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.
About the Investment:
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Approximately 15 Years Remaining
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
NNN Pro Group is pleased to present the exclusive listing for the Sonic located at 1461 Spring Hill Ave in Mobile, FL. The site will consist of roughly 1,391 rentable square feet of building space on estimated 0.59-acre parcel of land. The Sonic is subject to a 20-year absolute triple-net (NNN) lease, which commenced on September 1st, 2023. The initial annual rent will be $75,000 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year two (2) throughout the base term and in each of the four (4), five (5)-year renewal options.
✓ 20-Year Absolute Triple-Net (NNN) Lease
✓ Franchisee Guarantee from Quality Huts Drive-In (+70-units)
✓ 1.50% Annual Rental Increases Starting Year Two
✓ Four (4), Five (5)-Year Tenant Renewal Option Periods
NNN Pro Group is pleased to present the exclusive listing for a Take 5 Oil Change located at 1057 Schillinger Road in Mobile, Alabama. The site consists of roughly 1,046 rentable square feet of building space on estimated 0.60-acre parcel of land. This Take 5 Oil Change is subject to a 20-year absolute triple-net (NNN) lease, commencing at the close of escrow. The current annual rent is $115,000 and is scheduled to increase by 1.50% annually and in each of the 4, 5-year renewal options.
✓ Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
✓ Corporate Guarantee from Driven Brands Funding, LLC
✓ Attractive Rental Increases | 1.50% Annually Starting Year 2
✓ Four (4), Five (5)-Year Tenant Renewal Options
