Building Details

Year built 1945

Floors in Building 1

Flooring type Concrete

Listing Agency: Bhhs Rise Real Estate t***@riserealestate.com Show Phone

Listed By: Anne Adams · License #40164 Show Phone

Added: Jun 30 Changed: Aug 4 Last Checked: Aug 12 at 2:06PM

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MLS# 1819528

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Investment Insights

Based on property information with market context.

Convenience store property on a 1.97-acre lot, featuring a 1,200 SF building with concrete flooring. The property was built in 1945 and includes two bathrooms.

The site is located one mile from the Marshall County line and is accessed from Highway 431 S in New Hope, AL.

Utilities include public water and a septic tank sewer system, supporting straightforward operations for retail and everyday-needs tenants that can work within the existing building footprint.

Key Highlights

• 1.97‑acre lot for a convenience store property
• 1,200 SF building with concrete flooring
• Built in 1945 with two bathrooms

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

$16,762

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

5.08%

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%

$335,240 $335.2K

Cap Rate 7%

$239,457 $239.5K

Cap Rate 9%

$186,244 $186.2K

Market Conditions

NOI Build-Up for 1,200 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

$23.0K $19.20/SF

− Vacancy

−$691 −$0.58/SF

EGI

$22.3K $18.62/SF

− OpEx

−$5.6K −$4.66/SF

NOI

$16.8K $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%

$335,240

Cap Rate 7%

$239,457

Cap Rate 9%

$186,244

Alternative Uses

Best Use

Specialty Retail

$239.5K

$209.5K – $279.4K (±1% cap)

NOI $16,762 @ 7.0% cap · market cap 5.08%

Second Best

Retail

$209.5K

$183.3K – $244.4K (±1% cap)

NOI $14,666 @ 7.0% cap · market cap 4.44%

Theoretical Best

Office A

$312.5K

$273.4K – $364.6K (±1% cap)

NOI $21,874 @ 7.0% cap · market cap 6.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

46

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 35760, AL

5,186

Population

1,935

Households

2.7

Avg Household Size

42

Median Age

28%

College-Educated

90%

High-School Grad

50.7 sq mi

ZIP Area

102

Density / Sq Mi

$66,346

Median Household Income

$50,711

Median Earnings

$790

Median Rent

$164,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Convenience store building with concrete floors and public water served by a septic tank system.

Where is this grocery and convenience store located?

The property is located at Highway 431 S New Hope, AL.

What is the asking price?

The asking price for this property is $330,000.

What are key features of this property?

This property features: 1.97‑acre lot for a convenience store property; 1,200 SF building with concrete flooring; Built in 1945 with two bathrooms