Dollar General NNN
New
For Sale
$1,558,000
10477 Ramsey Rd, Grand Bay, AL 36541
Single-tenant retail asset associated with a nationally recognized discount retailer and an NNN lease structure.
Property Size10,640 SF
Price / SF$146.43
Days on Market5
Property Features for 10477 Ramsey Rd
General Information
Standard status
Active
Size
10,640 SF
Property subtype
Discount
Lease Type
Absolute Net
Additional Details
Cap Rate
6.85%
Amenities
NEWER 2023 CONSTRUCTION | 11.5+ YEARS REMAINING
10% RENTAL INCREASES EACH RENEWAL OPTION
LOW BASE RENT AND PRICE POINT
TRIPLE-NET (NNN) LEASE | NO LANDLORD EXPENSES
CORNER LOT AT SIGNALIZED INTERSECTION
18,000+ POPULATION IN 5-MILE RADIUS | 54,000+ POPULATION IN 10-MILE RADIUS
Building Details
Building Size
10,640 SF
Listing Agency:
Marcus & Millichap - Birmingham
(678) 808-2770
Listed By:
Robby Pfeiffer · License #License(s): GA: 281335, AL: 000091407-1
(678) 808-2770
Source:
Marcusmillichap
Added: Aug 21
Changed: Aug 24
Last Checked: Aug 24 at 3:22AM
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 Marcus & Millichap - Birmingham
Investment Insights
Based on property information with market context.
This 10,640-square-foot NNN property is presented with Dollar General as the named tenant. The asset is located at 10477 Ramsey Rd in Grand Bay, Alabama, providing a defined retail location for the existing occupant.
Dollar General is a publicly traded company listed on the NYSE and is identified with investment-grade BBB/stable credit from Standard & Poor’s. The company operates more than 20,000 locations across 48 states and reported $42.7 billion in net sales for fiscal year 2025. These corporate details provide context for the named tenant associated with the property.
Dollar General is a publicly traded company listed on the NYSE and is identified with investment-grade BBB/stable credit from Standard & Poor’s. The company operates more than 20,000 locations across 48 states and reported $42.7 billion in net sales for fiscal year 2025. These corporate details provide context for the named tenant associated with the property.
Key Highlights
- 10,640‑square‑foot NNN property
- Dollar General identified as the named tenant
- Publicly traded company listed on the NYSE
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
$140,834
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
9.04%
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%
$2,816,680
$2.8M
Cap Rate 7%
$2,011,914
$2.0M
Cap Rate 9%
$1,564,822
$1.6M
Market Conditions
NOI Build-Up for 10,640 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
$210.7K $19.80/SF
− Vacancy
−$9.5K −$0.89/SF
EGI
$201.2K $18.91/SF
− OpEx
−$60.4K −$5.67/SF
NOI
$140.8K $13.24/SF
Area
Mobile County, AL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,816,680
Cap Rate 7%
$2,011,914
Cap Rate 9%
$1,564,822
Alternative Uses
Best Use
Retail
$2.01M
$1.76M – $2.35M
NOI $140,834 @ 7.0% cap · market cap 9.04%
Second Best
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $111,920 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,506 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,613 visits/mo
0.1 miles
Demographics for 36541, AL
14,999
Population
6,432
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
89%
High-School Grad
93.1 sq mi
ZIP Area
161
Density / Sq Mi
$76,622
Median Household Income
$49,403
Median Earnings
$919
Median Rent
$164,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant retail asset associated with a nationally recognized discount retailer and an NNN lease structure.
Where is this nnn property located?
The property is located at 10477 Ramsey Rd Grand Bay, AL.
What is the asking price?
The asking price for this property is $1,558,000.
What are key features of this property?
This property features: 10,640‑square‑foot NNN property; Dollar General identified as the named tenant; Publicly traded company listed on the NYSE
