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    7033 Airport Blvd Mobile, AL 36608

    For Sale
    $7,021,000

    Fortis College: NNN Lease, Corporate Guarantee

    Property size:
    36,049 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents the fee simple ownership of a 36,049-square-foot, freestanding Fortis College building in Mobile, Alabama. The property boasts a strong 100% occupancy rate under a triple-net (NNN) lease with a corporate guarantee, offering minimal landlord responsibilities. The current lease has 1.6 years remaining, followed by two five-year renewal options, ensuring long-term income stability. Located on Airport Boulevard, a major thoroughfare with 66,700 vehicles per day, the property benefits from high visibility and convenient access. Its strategic location near USA Health Providence Hospital, the University of South Alabama (14,000 students), and numerous residential communities, along with nearby national retailers, contributes to a robust and stable tenant base. The property sits on a 3.68-acre lot and includes 210 parking spaces. Built in 1978 and renovated in 1998, the building is zoned B-3: Community Business. The strong demographics of the 5-mile trade area, with over 133,800 residents, 59,500 employees, and an average household income of $91,328, further enhance the investment potential. The property's current Net Operating Income (NOI) is $596,750, representing an 8.50% cap rate and a price per square foot of $194.76. This is a rare opportunity to acquire a well-located, passively managed, and financially sound commercial property in a thriving Alabama market. The asking price is $7,021,000.

    Property Features for 7033 Airport Blvd

    General Information

    Property type
    Schools
    Square Feet
    36,049 SF
    Lot Size
    160,301 SF

    Building Details

    Year Built/Renovated
    1978/1998

    HighLights

    • Fee simple ownership of a 36,049 SF Fortis College building in Mobile, AL, with a corporate guarantee.
    • NNN lease with 1.6 years remaining, plus two 5‑year options; variable rent increases.
    • High visibility on Airport Blvd (66,700 VPD), near USA Health Providence Hospital and the University of South Alabama.
    • Strong demographics: 5‑mile trade area with over 133,800 residents, 59,500 employees, and a $91,328 average household income; Mobile is Alabama's 4th largest city.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fortis College in Mobile Technical School

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2055318
    Latitude
    30.6840683

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    FAQs

    What type of property is this?
    School - Fortis College: NNN Lease, Corporate Guarantee
    Where is this school located?
    The property is located at 7033 Airport Blvd Mobile, AL.
    What is the asking price?
    The asking price for this property is $7,021,000.
    What are key features of this property?
    This property features: Fee simple ownership of a 36,049 SF Fortis College building in Mobile, AL, with a corporate guarantee.; NNN lease with 1.6 years remaining, plus two 5-year options; variable rent increases.; High visibility on Airport Blvd (66,700 VPD), near USA Health Providence Hospital and the University of South Alabama.
    Request Owner's contact information
    7033 Airport Blvd Mobile, AL 36608
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    Mobile, AL 36608
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7033 Airport Blvd Mobile, AL 36608
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