Drive-Through Restaurant
For Sale
$325,000
14054-56 Highway 231/431, Hazel Green, AL 35750
COMMERCIAL - Hazel Green, AL
Property Size1,714 SF
Lot Size0.70 Acres
Price / SF$189.61
Days on Market174
Property Features for 14054-56 Highway 231/431
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
Go North On Hwy 431 From Meridianville , The Property Is About 2 Blocks Before Joe Quick Rd.
Standard status
Active
APN
0309302002021.000
Size
1,714 SF
Lot size
0.70 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Avanti Realty Services LLC
(256) 714-1300
Listed By:
Alex Mukai · License #99826
(256) 714-1300
Added: Feb 18
Changed: Aug 4
Last Checked: Aug 11 at 1:06AM
MLS# 1801391
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale drive-through restaurant property contains 1,714 square feet and is arranged for carryout service. The facility includes drive-through capacity, indoor seating, outdoor seating, concrete flooring, and one bathroom. Public water and public sewer serve the property.
The offering consists of two parcels totaling approximately 0.7 acres, with 200 feet of road frontage along Highway 231/431. Located at 14054-56 Highway 231/431 in Hazel Green, Madison County, Alabama, the property is subject to an NNN lease structure. The stated cap rate is 7.6%.
The offering consists of two parcels totaling approximately 0.7 acres, with 200 feet of road frontage along Highway 231/431. Located at 14054-56 Highway 231/431 in Hazel Green, Madison County, Alabama, the property is subject to an NNN lease structure. The stated cap rate is 7.6%.
Key Highlights
- 1,714‑square‑foot carryout restaurant with drive‑through capacity
- Indoor and outdoor customer seating areas
- Two parcels totaling approximately 0.7 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,941
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$478,820
$478.8K
Cap Rate 7%
$342,014
$342.0K
Cap Rate 9%
$266,011
$266.0K
Market Conditions
NOI Build-Up for 1,714 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.9K $19.20/SF
− Vacancy
−$987 −$0.58/SF
EGI
$31.9K $18.62/SF
− OpEx
−$8.0K −$4.66/SF
NOI
$23.9K $13.97/SF
Area
Madison County, AL
Vacancy
3.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$478,820
Cap Rate 7%
$342,014
Cap Rate 9%
$266,011
Alternative Uses
Best Use
Specialty Retail
$342.0K
$299.3K – $399.0K
NOI $23,941 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$446.3K
$390.5K – $520.7K
NOI $31,243 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 35750, AL
14,192
Population
5,698
Households
2.5
Avg Household Size
40
Median Age
29%
College-Educated
87%
High-School Grad
61.1 sq mi
ZIP Area
232
Density / Sq Mi
$78,622
Median Household Income
$44,575
Median Earnings
$1,079
Median Rent
$186,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Carryout facility with indoor and outdoor customer seating.
Where is this drive through restaurant located?
The property is located at 14054-56 Highway 231/431 Hazel Green, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,714‑square‑foot carryout restaurant with drive‑through capacity; Indoor and outdoor customer seating areas; Two parcels totaling approximately 0.7 acres
