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8 N Broad St 840 SF Retail Building Mobile, AL 36602 $993,586 ($1,182.84/SF) 7% Cap Rate
Investment Highlights
- Corporate Guarentee
- Absolute NNN
- 10% Rent Increases
- 22,000+ AADT on North Broad Street
Executive Summary
Vero Capital Group is pleased to present the exclusive offering of a single-tenant Checkers Drive-In Restaurant located at 8 North Broad Street in downtown Mobile, Alabama. The restaurant is operated directly by Checkers Drive-In Restaurants, Inc. on a corporate basis — and is subject to an absolute NNN lease with approximately 9.4 years of remaining term on the base period, plus two additional five-year renewal options extending the investment through 2045, providing investors with a passive ownership structure backed by corporate credit.
The restaurant building was originally constructed in 1988, demonstrating a long-term operating history and sustained performance within its local trade area. The property features a well-located site within an established retail corridor at the signalized intersection of North Broad Street, one of downtown Mobile's busiest thoroughfares.
The site benefits from strong visibility, convenient access, and proximity to major traffic drivers — including AADT of 22,000+ on North Broad Street, 23,000+ on Government Street, and close proximity to Interstate 10 — that support consistent customer demand.
The surrounding area includes a mix of national retailers, regional businesses, and local service providers, including Walgreens, CVS Pharmacy, Winn-Dixie, and several competing quick-service restaurants, that generate steady daily traffic.
With a long-term corporate lease in place featuring 10% rent increases every five years, the property presents an attractive opportunity to acquire a stable, cash-flowing quick-service restaurant investment backed by a nationally recognized brand.
The restaurant building was originally constructed in 1988, demonstrating a long-term operating history and sustained performance within its local trade area. The property features a well-located site within an established retail corridor at the signalized intersection of North Broad Street, one of downtown Mobile's busiest thoroughfares.
The site benefits from strong visibility, convenient access, and proximity to major traffic drivers — including AADT of 22,000+ on North Broad Street, 23,000+ on Government Street, and close proximity to Interstate 10 — that support consistent customer demand.
The surrounding area includes a mix of national retailers, regional businesses, and local service providers, including Walgreens, CVS Pharmacy, Winn-Dixie, and several competing quick-service restaurants, that generate steady daily traffic.
With a long-term corporate lease in place featuring 10% rent increases every five years, the property presents an attractive opportunity to acquire a stable, cash-flowing quick-service restaurant investment backed by a nationally recognized brand.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
840 SF
Building Class
C
Year Built/Renovated
1988/2006
Price
$993,586
Price Per SF
$1,182.84
Cap Rate
7%
NOI
$69,551
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
0.68 AC
Opportunity Zone
Yes
Parking
23 Spaces (27.38 Spaces per 1,000 SF Leased)
Frontage
181’ on N Broad St
Amenities
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 29-06-40-0-010-180 | Improvements Assessment | $33,500 |
| Land Assessment | $77,940 | Total Assessment | $111,440 |
Property Taxes
Parcel Number
29-06-40-0-010-180
Land Assessment
$77,940
Improvements Assessment
$33,500
Total Assessment
$111,440
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