7033 Airport Blvd - Schools FOR SALE


Mobile, AL 36608- Thornhill
$6,627,000 USD
949-270-8229
7033 Airport Blvd, Mobile, AL for Sale
$6,627,000 USD
Schools - FOR SALE
1/9
null | 8.3% Cap Rate

7033 Airport Blvd
Mobile, AL 36608
Thornhill


HIGHLIGHTS

  • New 10-Year Extension | Corporate Guaranteed | Options To Extend
  • NN | Fee Simple Ownership
  • Near USA Health Providence Hospital | Airport Blvd (66,700 VPD) | University of South Alabama (14,000 Students) | Retail Corridor
  • Strong Demographics In 5-Mile Trade Area | 4th Largest City in AL

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN, freestanding, corporate guaranteed Fortis College investment property located in Mobile, Alabama. The tenant, Fortis College, recently executed a new 10-year lease extension with 2 (5-year) options to extend. The lease features a 10% rental increase in year 5 followed by FMV increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The roof, HVAC, and parking lot have undergone extensive repairs prior to the lease extension.

FOR SALE DETAILS

PRICE

$6,627,000 USD

PRICE/SF

$184 USD /SF

CAP RATE

8.3%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fortis College | Corp NN | Fee Simple

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Schools

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

210

LAND DETAILS

LAND ACRES

3.79 AC

LAND SF

165,092 SF

ZONING

B-3

APN/PARCEL ID

28-04-20-2-000-045

ASK ABOUT THIS PROPERTY

Stephen SullivanSRS National Net LeaseMore Info
949-270-8229

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Stephen SullivanSRS National Net LeaseMore Info
949-270-8229

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.