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31291253
31568262

1250 Satchel Paige Dr, Mobile, AL 36606

MM
CA 01732226
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
MC
MI 6501369793
SRS Real Estate Partners Newport Beach
FR
MI 6502417063
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners Newport Beach
$32,172,000
80 days on market
Updated 68 days ago

TopGolf

Details
APN 29 09 51 0 012 006.013
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 37,000
Cap Rate 7.00%
NOI $2,252,037
Tenancy Single
Brand/Tenant Topgolf
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 12/01/2043
Remaining Term 17
Lease Options 10 (5-Year)
Price per SqFt $870
Year Built 2023
Acreage 9.700
Zoning Community Business
Parking Spaces 249 spaces
Parking Per SqFt 6.73
Tenant Credit Corporate Guarantee
Lease Commencement 12/01/2023
Ground Lease No
Ownership Fee Simple (Land & Building)

Single Tenant Absolute NNN | Investment Opportunity

Marketing description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate signed, Topgolf investment property located in Mobile, Alabama. The tenant, Topgolf USA, LLC, has approximately 17 years remaining on its 20-year lease with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it

an ideal, management-free investment for a passive investor. Founded in 2000, Topgolf now has over 100 locations around the world. In late 2025, private equity firm Leonard Green & Partners agreed to acquire a 60% majority stake in Topgolf and its Toptracer technology business, valuing the company at about $1.1 billion and positioning Leonard Green to lead the brand’s next growth chapter while Callaway Golf Company retains a 40% interest.

Investment highlights

  • 17 Years Remaining | New Construction | Scheduled Rental Increases | Premier Entertainment Venue
  • Outparcel to McGowin Park (374,000 SF) | Immense Retail Corridor | National/Credit Tenant Presence
  • Major Cloverleaf Interchange (118,500 VPD) | Excellent Visibility & Access
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Hospitality Cluster | Proximity to Numerous Hotels
  • Strong Demographics in 5-Mile Trade Area

Listing Contacts

MM
CA 01732226
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
MC
MI 6501369793
SRS Real Estate Partners Newport Beach
FR
MI 6502417063
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners Newport Beach

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$2,252,037.00
$187,669.75/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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