Alabama city considering $4.8 million deal for new Big Mike’s steakhouse location

Northport officials are poised to vote on a major development agreement this week that could bring a new Big Mike’s Steakhouse to the city. The project, which is set for consideration at 5:30 p.m. this Thursday, represents a significant investment for the area.

Project Details and Financial Structure

According to city documents, the proposed deal involves a partnership with Sucarnoochee Investments and developer Winship. The city would own the approximately 6,720-square-foot facility and lease it back to the restaurant brand. The construction cost for the site, slated for the corner of Jemison Lane and Airport Road, is capped at $4.8 million.

The restaurant is expected to bring 35 new jobs to Northport. Projections estimate the venue's annual revenue will hit the $4.8 million mark, with a unique repayment structure in place: 5% of monthly gross revenues and two-thirds of the city’s collected sales tax at the location will go toward covering costs.

Long-Term Outlook

As part of the development plan, Northport will establish a cooperative district for the property, implementing a 2% user fee on all gross sales. Once the debt is cleared, the city will retain all future sales tax generated by the restaurant. The agreement includes a 20-year lease for Big Mike’s, with an option to purchase the property for $100 once that term expires.

This potential expansion marks a new chapter for the popular steakhouse, which currently operates six locations across Alabama in Thomasville, Andalusia, Orange Beach, Moundville, Auburn, and Guntersville. For more updates on local economic development, keep following 205focus.com.