Dollar General NNN
For Sale
Contact for pricing
101 Frankfurt Cir, Birmingham, AL 35211
Retail property leased under an absolute NNN structure with 10 years remaining.
Property Size9,026 SF
Price / SF$210.50
Days on Market155
Property Features for 101 Frankfurt Cir
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$127,469
Building Details
Year Built
2021
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Matthews
(615) 667-0097
Listed By:
Hutt Cooke · License #AL 000168807 - 0
Source:
Crexi
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 31 at 6:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
Built in 2021, this 9,026-square-foot NNN property is occupied by Dollar General and operates under an absolute NNN lease structure. The asset is located at 101 Frankfurt Cir in Birmingham, Alabama, with 10 years remaining on the lease term.
Key Highlights
- Dollar General occupancy
- Absolute NNN lease structure
- 10 years remaining on the lease
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
$112,103
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
5.90%
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%
$2,242,060
$2.2M
Cap Rate 7%
$1,601,471
$1.6M
Cap Rate 9%
$1,245,589
$1.2M
Market Conditions
NOI Build-Up for 9,026 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
$162.5K $18.00/SF
− Vacancy
−$13.0K −$1.44/SF
EGI
$149.5K $16.56/SF
− OpEx
−$37.4K −$4.14/SF
NOI
$112.1K $12.42/SF
Area
Birmingham, AL
Vacancy
8.00%
Lease Rate
$18.00 /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%
$2,242,060
Cap Rate 7%
$1,601,471
Cap Rate 9%
$1,245,589
Alternative Uses
Best Use
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $112,103 @ 7.0% cap · market cap 5.90%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,215 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,301 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 35211, AL
24,775
Population
14,302
Households
1.7
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
16.6 sq mi
ZIP Area
1,492
Density / Sq Mi
$34,286
Median Household Income
$29,742
Median Earnings
$1,044
Median Rent
$94,500
Median Home Value
Market
Vacancy Rate% for Retail in Birmingham, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Retail property leased under an absolute NNN structure with 10 years remaining.
Where is this nnn property located?
The property is located at 101 Frankfurt Cir Birmingham, AL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Dollar General occupancy; Absolute NNN lease structure; 10 years remaining on the lease
