Elberta, AL Dollar
16946 Co Rd 87, Elberta, AL 36530
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New Dollar General in Elberta, AL with long-term NNN lease.
Type:RETAIL
Property size:
12,480 SFLot size:
5.06 AcresPrice / SF:
$198/SF- Added:
- May 26, 2025
- Days on Market:
- 364
- Last Refresh:
- Apr 5 at 9:35 pm
Property Features for 16946 Co Rd 87
General Information
- Standard status
- Active
- Size
- 12,480 SF
- Lot size
- 5.06 Acres
- Property subtype
- RETAIL
Listing agent Cody Crist License #TX 697980
Listing office Trinity Real Estate Investment Services - Corporate (817) 304-8916
Listing date May 26, 2025
Source Moodyscre
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 Trinity Real Estate Investment Services - Corporate
HighLights
- 15‑year absolute NNN lease — rent set to commence June 2025
- Strong corporate guaranty by Dollar General Corporation, with an S&P credit rating of BBB
- Attractive 5% rental increases every 5 years
- Limited retail competition — primary source of retail goods in the area, the only dollar store within 4 miles
- 12,480 square foot large prototype store that can accommodate a larger volume of customers
- Ideally positioned on corner lot at the intersection of County Rd 32 and County Rd 87 with combined traffic counts of almost 5,000 VPD
Overview
A Dollar General Market is under development, scheduled for completion in 2025, in Elberta, Alabama. The property features a 15-year absolute NNN lease, with rent commencement set for June 2025. The lease includes attractive 5% rental increases every 5 years. The store will utilize a 12,480 square foot large prototype design, intended to accommodate a higher volume of customers. Positioned on a corner lot at the intersection of County Rd 32 and County Rd 87, the location benefits from a combined traffic count of almost 5,000 vehicles per day. The surrounding area has limited retail competition, making this Dollar General the primary source of retail goods, and the only dollar store within a 4-mile radius. The location serves a healthy 5-mile demographic area with over 5,000 residents and a positive growth rate. The lease is backed by a strong corporate guaranty from Dollar General Corporation, which holds an S&P credit rating of BBB and operates more than 20,000 locations.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$1.49M
NOI $134,290 @ 9.00% cap · cautious / downside scenario
Moderate
$1.92M
NOI $134,290 @ 7.00% cap · market / base-case scenario
Aggressive
$2.69M
NOI $134,290 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $209.7k | $16.80 |
| − Vacancy | −$17.8k | −$1.43 |
| EGI | $191.8k | $15.37 |
| − OpEx | −$57.6k | −$4.61 |
| NOI | $134.3k | $10.76 |
12,480 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.92M
$1.68M – $2.24M
NOI $134,290 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.00M
$2.63M – $3.50M
NOI $210,083 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Elberta
- County
- Baldwin
- State
- Alabama
- Longitude
- -87.5804
- Latitude
- 30.4736
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - New Dollar General in Elberta, AL with long-term NNN lease.
Where is this storefront property located?
The property is located at 16946 Co Rd 87 Elberta, AL.
What is the asking price?
The asking price for this property is $2,481,630.
What are key features of this property?
This property features: 15‑year absolute NNN lease — rent set to commence June 2025; Strong corporate guaranty by Dollar General Corporation, with an S&P credit rating of BBB; Attractive 5% rental increases every 5 years
