Lowe's NNN Retail
New
For Sale
$17,500,000
1701 Frederick Rd, Opelika, AL 36801
The property is fully leased to Lowe's Home Centers, LLC under a triple-net agreement.
Property Size143,955 SF
Price / SF$121.57
Days on Market1
Property Features for 1701 Frederick Rd
General Information
Standard status
Active
Size
143,955 SF
Property subtype
Department Store
Occupancy
100%
Lease Type
NNN
Amenities
Single-tenant Lowe's Home Improvement serving the Opelika market for more than 27 years
Store ranks within the top 76th percentile of Lowe's locations nationwide by annual visits, per Placer.ai
Triple-net lease structure minimizes management responsibilities with 5% increases in the renewal periods
Inside Tiger Town, East Alabama's largest retail center, a 130-acre mixed use development with about 1 million square feet of retail. Tiger Town draws shoppers from all of Lee County and nearby parts of Georgia
Direct frontage on Interstate 85, visible to ±62,000 vehicles per day
Building Details
Building Size
143,955 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap | Birmingham
Listed By:
Eddie Greenhalgh · License #License(s) AL: 0000882980
(205) 510-9200
Source:
Marcusmillichap
Added: Oct 19
Last Checked: Oct 19 at 2:28PM
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
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Investment Insights
Based on property information with market context.
Located at 1701 Frederick Rd in Opelika, Alabama, this retail property is occupied by Lowe's Home Centers, LLC. The lease is structured on a triple-net basis and guaranteed by Lowe's Companies, Inc.
Key Highlights
- 100% leased to Lowe's Home Centers, LLC
- Triple‑net lease guaranteed by Lowe's Companies, Inc.
- Located at 1701 Frederick Rd in Opelika, Alabama
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,355,840
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$27,116,800
$27.1M
Cap Rate 7%
$19,369,143
$19.4M
Cap Rate 9%
$15,064,889
$15.1M
Market Conditions
NOI Build-Up for 143,955 SF
Gross rent
$2.16M $15.00/SF
− Vacancy
−$222.4K −$1.55/SF
EGI
$1.94M $13.46/SF
− OpEx
−$581.1K −$4.04/SF
NOI
$1.36M $9.42/SF
Area
Lee County, AL
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$27,116,800
Cap Rate 7%
$19,369,143
Cap Rate 9%
$15,064,889
Alternative Uses
Best Use
Retail
$19.37M
$16.95M – $22.60M
NOI $1,355,840 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$35.11M
$30.72M – $40.96M
NOI $2,457,692 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
655k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 23%
Home Improvements & Furnishings 17%
Groceries 15%
Kroger
Groceries
70,311 visits/mo
0.5 miles
Chick-fil-A
Dining
64,642 visits/mo
0.1 miles
Hobby Lobby
Shops & Services
53,118 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
49,643 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
40,905 visits/mo
0.2 miles
Demographics for 36801, AL
24,590
Population
11,363
Households
2.2
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
78.3 sq mi
ZIP Area
314
Density / Sq Mi
$58,256
Median Household Income
$39,018
Median Earnings
$926
Median Rent
$211,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - The property is fully leased to Lowe's Home Centers, LLC under a triple-net agreement.
Where is this nnn property located?
The property is located at 1701 Frederick Rd Opelika, AL.
What is the asking price?
The asking price for this property is $17,500,000.
What are key features of this property?
This property features: 100% leased to Lowe's Home Centers, LLC; Triple‑net lease guaranteed by Lowe's Companies, Inc.; Located at 1701 Frederick Rd in Opelika, Alabama
