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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7033 Airport Blvd Mobile, AL 36608

    • Commercial real estate
    • 36,049 SF
    • 3.68 lot acres
    For Sale
    View listing
    $7,021,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1023362
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Fortis College in Mobile / Technical School / Dental School

    Property Details for 7033 Airport Blvd

    Year built
    1978
    Lot size
    3.68 lot acres
    Property size
    36,049 SF
    Property type
    Commercial real estate
    APN
    28 04 20 2 000 045.XXX
    APU
    2804202000045XXX

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,677,000
      Market price range: $2.08M - $5.52M
      AI Estimate
      $3,385,000
      Market price range: $1.34M - $3.87M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,430,000
      Current use
      INDUSTRIAL (GENERAL)
      $5,090,000
      Change: +48% Conversion: Moderate
      OFFICE BUILDING
      $3,930,000
      Change: +15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2056
    Latitude
    30.684
    CBSA code
    33660
    CBSA name
    MOBILE, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $58,093
    $359,320
    $543,240
    $902,560
    -
    $1,796,600
    $2,716,200
    $4,512,800

    Comparable in this City

    • Value Estimation by Request

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      Land • 2.50 Acres
      0 Cor Of Airport Blvd & Dykes Rd, Mobile, AL 36608
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      Airport Blvd

      Land
      0 Airport Blvd, Mobile, AL 36608
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      6,183 SF

      120 Novatan S Rd

      COMMERCIAL (GENERAL) • 6,183 SF
      120 Novatan S Rd, Mobile, AL 36608-9008
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      1,782 SF

      6698 Old Shell Rd

      COMMERCIAL (GENERAL) • 1,782 SF
      6698 Old Shell Rd, Mobile, AL 36608-3927
      View Details
    • Value Estimation
      $8,155,000
      52,599 SF

      4101 Wimbledon W Dr

      COMMERCIAL (GENERAL) • 52,599 SF
      4101 Wimbledon W Dr, Mobile, AL 36608-2361
      View Details

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    • $449,900
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      and owner is willing to allow the new owner to use the business name. The personal property is negotiable. The building is situated on approx. .60 of an acre. The building was built in 2009 and is approx. 3924SF. There is a kitchen

      two bathrooms with four toilets - total
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    Similar Nearby for Lease

    • $15 SF/Yr
      10,000 SF

      Mobile Retail/Medical Space Available

      Prime Mobile location, flexible space, NNN lease.
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    • $18 SF/Yr
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      High-traffic Mobile, AL retail space for lease.
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    • $25 SF/Yr
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      Spring Hill Retail Space - Lease Now

      High-visibility retail space, ideal location.
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    • $50,000
      50,007 SF

      Prime Mobile, AL Land Lease Opportunity

      1.39-acre lot, high-traffic location.
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    • $26 SF/Yr
      1,500 SF

      Springhill Village Retail Space

      1500 sq ft retail space, prime Mobile location.
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    • $22 SF/Yr
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      Historic Mobile Office Space For Lease

      Prime location, 2562 sq ft, flexible lease.
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    7033 Airport Blvd
    Mobile, AL 36608
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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