Mobile, AL - Fortis College

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, freestanding, corporate guaranteed Fortis College investment property located in Mobile, Alabama. The tenant, Fortis College, has 2-years remaining with 2 (5-year) options to extend. The lease
features variable rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The asset has excellent visibility along Airport Boulevard (66,700 VPD), a major retail thoroughfare connecting the site to downtown Mobile. The city of Mobile is the fourth largest in the state with a population exceeding 185,000 residents, providing an abundant consumer base from which to draw. Fortis College serves a vital role in the local community providing post-secondary education for students pursuing careers in major industries such as Medical Technology and Healthcare. The property is adjacent to the 277-acre USA Health Providence Hospital campus (349 beds) and is near several apartment and multi-family communities including the Timber Ridge Apartments (320 units), Stone Ridge Apartments (317 units), Linx Plaza (214 units), and Park Apartments (201 units). Furthermore, the subject property is within 2-miles of the University of South Alabama (14,000 students) and the Mobile Regional Airport, serving 600,000 passengers annually. Nearby national/credit tenants include Walmart Supercenter, Sam’s Club, Home Depot, Lowe’s, and Target. The 5-mile trade area is supported by a population of over 133,800 residents and 59,500 employees with an average household income of $91,328.