Mobile, AL - PPG Paints

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a PPG Paints investment property located in Mobile, Alabama. The tenant, The Pittsburgh Paints Co. (dba PPG Paints), recently extended its existing lease through December 31, 2030, continuing a presence at the property dating back to 1996 under the original Glidden lease. The lease is structured as Modified NN, with the tenant responsible for its pro rata share (65%) of real estate taxes, insurance, and water/sewer, along with interior maintenance. Landlord responsibilities include the roof, structure, parking lot, HVAC replacement, landscaping/common areas, and the remaining 35% of taxes, insurance, and water/sewer. The offering also includes approximately 3,000 square feet of vacant space, providing investors with future lease-up, repositioning, or owner-user potential while benefiting from in-place cash flow generated by the PPG Paints operation.

The property is strategically positioned along Pleasant Valley Road, just north of Cottage Hill Road, within one of Mobile’s primary retail corridors. The location is surrounded by numerous national retailers including Target, Costco, The Home Depot, Hobby Lobby, Ross, HomeGoods, PetSmart, Best Buy, Old Navy, Ashley, Chick-fil-A, and many others, creating strong retail synergy and consistent consumer traffic. The property also benefits from excellent accessibility to Interstate 65, further enhancing its visibility and convenience for both commercial and retail customers. The 5-mile trade area is supported by a population of more than 154,000 residents, over 92,000 employees, and an average household income exceeding $76,000, providing a strong demographic foundation for the long-term success of the location.

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Listing ID: a28TP000003esKvYAI