Conventional Restaurant with Outdoor
New
For Sale
$449,999
11186 AL HIGHWAY 51, Opelika, AL 36804
Commercial/Industrial, OPELIKA, AL
Property Size3,084 SF
Lot Size2.24 Acres
Price / SF$145.91
Days on Market4
Property Features for 11186 AL HIGHWAY 51
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
On Marvyn Pkwy towards Hurtsboro from Opelika HWY 169, Stay on HWY 51 for 7.7 miles and keep left onto hwy 51. Destination is on the right in 1.3 miles.
Subdivision
Lee County
Standard status
Active
Size
3,084 SF
Lot size
2.24 Acres
Amenities
Covered porch entrance
ceiling fans
Wall mounted TV's
Building Details
Year built
1930
Listing Agency:
CAST AND KEY REALTY LLC
(334) 703-2810
Listed By:
STEPHANIE CANNON
(334) 703-2810
Added: Aug 25
Last Checked: Aug 28 at 8:06AM
MLS# 182062
Copyright © 2026 Lee County Association of Realtors. 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 conventional restaurant property includes a 3,084-square-foot building on approximately 2.24 acres. Improvements include a covered front porch, 16-by-36-foot outdoor patio, customer seating with booths, a handmade stained-pine bar, ceiling fans, wall-mounted TVs, and a sprinkler system. Recent work includes new paint and updated wiring for power and outlets.
The kitchen area features stainless steel preparation surfaces, a stainless steel-walled room, a commercial-grade vented hood, and fire-suppression equipment. The property is positioned along AL Highway 51 south of Beauregard near Whatleys Crossroads, with reported traffic counts of +/- 5,000. The site is approximately 20 minutes from Auburn, Phenix City, and I-85 North.
The kitchen area features stainless steel preparation surfaces, a stainless steel-walled room, a commercial-grade vented hood, and fire-suppression equipment. The property is positioned along AL Highway 51 south of Beauregard near Whatleys Crossroads, with reported traffic counts of +/- 5,000. The site is approximately 20 minutes from Auburn, Phenix City, and I-85 North.
Key Highlights
- 3,084 SF building on approximately 2.24 acres
- Commercial‑grade vented hood with fire‑suppression equipment
- 16x36‑foot outdoor patio and covered porch entrance
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
$34,036
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
7.56%
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%
$680,720
$680.7K
Cap Rate 7%
$486,229
$486.2K
Cap Rate 9%
$378,178
$378.2K
Market Conditions
NOI Build-Up for 3,084 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
$49.2K $15.96/SF
− Vacancy
−$3.8K −$1.24/SF
EGI
$45.4K $14.72/SF
− OpEx
−$11.3K −$3.68/SF
NOI
$34.0K $11.04/SF
Area
Lee County, AL
Vacancy
7.80%
Lease Rate
$15.96 /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%
$680,720
Cap Rate 7%
$486,229
Cap Rate 9%
$378,178
Alternative Uses
Best Use
Specialty Retail
$486.2K
$425.5K – $567.3K
NOI $34,036 @ 7.0% cap · market cap 7.56%
Second Best
Industrial
$203.2K
$177.8K – $237.0K
NOI $14,222 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$752.2K
$658.2K – $877.5K
NOI $52,652 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5,000 VPD
Traffic count
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36804, AL
20,687
Population
8,515
Households
2.4
Avg Household Size
39
Median Age
32%
College-Educated
86%
High-School Grad
197.2 sq mi
ZIP Area
105
Density / Sq Mi
$57,842
Median Household Income
$42,942
Median Earnings
$802
Median Rent
$178,100
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?
Conventional restaurant - Restaurant-ready property with a full bar, commercial kitchen infrastructure, customer seating, and an outdoor patio.
Where is this conventional restaurant located?
The property is located at 11186 AL HIGHWAY 51 Opelika, AL.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: 3,084 SF building on approximately 2.24 acres; Commercial‑grade vented hood with fire‑suppression equipment; 16x36‑foot outdoor patio and covered porch entrance
