Carrabba's Italian Grill NNN Property For Sale — St. Petersburg, FL
St. Petersburg, FL
This long-term absolute NNN single-tenant Carrabba's Italian Grill is located in St. Petersburg, Florida. Positioned along Tyrone Boulevard, a major thoroughfare, the property benefits from a robust retail corridor with numerous national retailers and proximity to popular coastal areas. The lease features approximately 12.5 years remaining on the primary term, with four 5-year renewal options and attractive 1% annual rent increases throughout the initial term and renewal periods. The 1.835-acre site includes a 6,770 square-foot freestanding building with excellent visibility and 550 feet of frontage on Tyrone Boulevard, which sees traffic counts of 41,000 vehicles per day. The property is ideally situated near Tyrone Square Mall and numerous other major retailers, providing a strong custo…
- Address: St. Petersburg, FL
- Asking price $5.06M
- 5.60% cap rate
- NOI $283,331
- 5 years remaining
- NNN lease
- Year built: 1999
- Building size: 6,770 SF
- Lot size: 1.83 acres
- Lease expiration: Aug 31, 2031
- Rent increases: 1% annually
- Guarantor: Corporate
Location
This Carrabba's Italian Grill property is in St. Petersburg, Florida.
Asset type: Restaurant