Single-Tenant NNN
For Sale
$949,000
1115 Coliseum Boulevard, Montgomery, AL 36110
New Grill Pollo location is being renovated to a 2022 prototype under a 20-year absolute NNN lease.
Property Size3,604 SF
Lot Size1.55 Acres
Days on Market150
Property Features for 1115 Coliseum Boulevard
General Information
Standard status
Active
Size
3,604 SF
Lot size
1.55 Acres
Property subtype
Street Retail
Building Details
Building Size
3,604 SF
Year Built
1988
Tenancy
Single
Listing Agency:
Moore Company Realty, Inc
Listed By:
Gene Cody, CCIM
(334) 262-1958
Source:
Thebrokerlist
Added: Apr 11
Changed: Sep 3
Last Checked: Sep 7 at 4:38AM
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 Moore Company Realty, Inc
Investment Insights
Based on property information with market context.
Matthews Real Estate Investment Services exclusively presents the sale of a new Grill Pollo location in Montgomery, Alabama. The property is currently being renovated to Grill Pollo’s new 2022 prototype. Grill Pollo has signed a 20-year Absolute NNN lease, with 2% annual increases through the base term and option periods.
The site is positioned on a 1.55-acre parcel at a signalized 4-way intersection in the middle of Alabama’s state government hub, supporting retail visibility from a multi-directional roadway setting.
This offering is structured around a single-tenant, NNN lease configuration with scheduled annual rent increases over the full lease term and options.
The site is positioned on a 1.55-acre parcel at a signalized 4-way intersection in the middle of Alabama’s state government hub, supporting retail visibility from a multi-directional roadway setting.
This offering is structured around a single-tenant, NNN lease configuration with scheduled annual rent increases over the full lease term and options.
Key Highlights
- Being renovated for a new Grill Pollo 2022 prototype
- 20‑year absolute NNN lease recently signed
- Lease includes 2% annual increases through the base term and option periods
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
$42,867
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
4.52%
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%
$857,340
$857.3K
Cap Rate 7%
$612,386
$612.4K
Cap Rate 9%
$476,300
$476.3K
Market Conditions
NOI Build-Up for 3,604 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
$60.5K $16.80/SF
− Vacancy
−$3.4K −$0.94/SF
EGI
$57.2K $15.86/SF
− OpEx
−$14.3K −$3.96/SF
NOI
$42.9K $11.89/SF
Area
Montgomery, AL
Vacancy
5.60%
Lease Rate
$16.80 /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%
$857,340
Cap Rate 7%
$612,386
Cap Rate 9%
$476,300
Alternative Uses
Best Use
Specialty Retail
$612.4K
$535.8K – $714.5K
NOI $42,867 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$747.3K
$653.9K – $871.9K
NOI $52,313 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
43k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 80%
Shops & Services 18%
Hotels & Casinos 2%
Walmart Neighborhood Market
Groceries
34,679 visits/mo
0.2 miles
Guardian Credit Union
Shops & Services
6,298 visits/mo
0.4 miles
Penske Truck Rental
Shops & Services
844 visits/mo
0.4 miles
Motel 6
Hotels & Casinos
829 visits/mo
0.3 miles
Gerber Collision & Glass
Shops & Services
487 visits/mo
0.4 miles
Demographics for 36110, AL
11,492
Population
5,072
Households
2.3
Avg Household Size
38
Median Age
10%
College-Educated
77%
High-School Grad
29.5 sq mi
ZIP Area
390
Density / Sq Mi
$41,140
Median Household Income
$31,337
Median Earnings
$1,014
Median Rent
$81,200
Median Home Value
Market
Vacancy Rate% for Retail in Montgomery, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - New Grill Pollo location is being renovated to a 2022 prototype under a 20-year absolute NNN lease.
Where is this conventional restaurant located?
The property is located at 1115 Coliseum Boulevard Montgomery, AL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Being renovated for a new Grill Pollo 2022 prototype; 20‑year absolute NNN lease recently signed; Lease includes 2% annual increases through the base term and option periods
