Single-Tenant NNN Retail
New
For Sale
Contact for pricing
1415 SIXTH AVE SE, Decatur, AL 35601
Freestanding quick-service restaurant with a drive-through and long-term lease structure.
Property Size1,560 SF
Lot Size0.48 Acres
Price / SF$384.62
Days on Market7
Property Features for 1415 SIXTH AVE SE
General Information
Standard status
Active
Size
1,560 SF
Lot size
0.48 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$42,000
Site & Location
Drive-Thru
Yes
Traffic Count
30,000 vehicles/day
Building Details
Year Built
2015
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Encore Real Estate Investment Services
(888) 737-2264
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 9:07AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
Little Caesars occupies a 1,560-square-foot freestanding restaurant built in 2015 on 0.48 acres. The property includes a drive-through and is leased under an absolute NNN structure, with the tenant responsible for taxes, insurance, CAM, roof, and structural obligations.
The site is located at 1415 Sixth Ave SE in Decatur, Alabama, along 6th Avenue, which records more than 30,000 vehicles per day. National retailers and residential neighborhoods surround the property, while the 5-mile trade area includes more than 59,000 residents and average household income above $78,000.
The lease has 10 years remaining, includes two 5-year renewal options, and provides 7.5% rent increases every five years. The current tenant is Little Caesars, a recognized quick-service pizza brand.
The site is located at 1415 Sixth Ave SE in Decatur, Alabama, along 6th Avenue, which records more than 30,000 vehicles per day. National retailers and residential neighborhoods surround the property, while the 5-mile trade area includes more than 59,000 residents and average household income above $78,000.
The lease has 10 years remaining, includes two 5-year renewal options, and provides 7.5% rent increases every five years. The current tenant is Little Caesars, a recognized quick-service pizza brand.
Key Highlights
- Absolute NNN lease with tenant responsibility for taxes, insurance, CAM, roof, and structure
- 1,560 SF freestanding restaurant built in 2015 on 0.48 acres
- 10 years remaining on the lease with two 5‑year renewal options
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
$17,403
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
2.90%
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%
$348,060
$348.1K
Cap Rate 7%
$248,614
$248.6K
Cap Rate 9%
$193,367
$193.4K
Market Conditions
NOI Build-Up for 1,560 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
$24.9K $15.96/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$23.2K $14.87/SF
− OpEx
−$5.8K −$3.72/SF
NOI
$17.4K $11.16/SF
Area
Morgan County, AL
Vacancy
6.80%
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%
$348,060
Cap Rate 7%
$248,614
Cap Rate 9%
$193,367
Alternative Uses
Best Use
Specialty Retail
$248.6K
$217.5K – $290.1K
NOI $17,403 @ 7.0% cap · market cap 2.90%
Second Best
Retail
$184.3K
$161.3K – $215.0K
NOI $12,901 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$324.6K
$284.0K – $378.7K
NOI $22,719 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
179k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 25%
Groceries 21%
Superstores 8%
Walmart Neighborhood Market
Groceries
36,846 visits/mo
0.4 miles
McDonald's
Dining
26,528 visits/mo
0.4 miles
Murphy USA
Shops & Services
20,271 visits/mo
0.4 miles
Circle K
Shops & Services
20,090 visits/mo
0.4 miles
Redstone Federal Credit Union
Shops & Services
14,759 visits/mo
0.5 miles
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
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?
NNN property - Freestanding quick-service restaurant with a drive-through and long-term lease structure.
Where is this nnn property located?
The property is located at 1415 SIXTH AVE SE Decatur, AL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Absolute NNN lease with tenant responsibility for taxes, insurance, CAM, roof, and structure; 1,560 SF freestanding restaurant built in 2015 on 0.48 acres; 10 years remaining on the lease with two 5‑year renewal options
