Convenience Store and Gas
For Sale
$950,000
2134 S Hickory St, Loxley, AL 36551
Operating convenience store and gas station with a 850 SF-plus car wash and multiple new fuel system components.
Property Size2,280 SF
Price / SF$416.67
Days on Market116
Property Features for 2134 S Hickory St
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Retail - Street Retail
Building Details
Building Size
2,280 SF
Year Built
1989
Listing Agency:
White-Spunner Realty
Listed By:
Crawford Stitt · License #0001357740
(251) 295-1328
Source:
Commercialcafe
Added: May 16
Changed: Sep 8
Last Checked: May 26 at 6:31AM
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 White-Spunner Realty
Investment Insights
Based on property information with market context.
This property is a currently operating convenience store and gas station, operating as a Shell. The site includes a retail convenience store area of 2,280 square feet and a car wash area measuring 850± square feet.
The fuel infrastructure includes new 8,000-gallon tanks for premium, regular, and diesel, along with a new electrical/control system for the fuel system featuring an emergency shutoff. Additional improvements listed include new electrical for the entire store, new fuel pumps, and a recent Adem approval on the fuel system.
The combination of active retail and fuel service, along with the included car wash, provides a diversified vehicle-focused operation under one roof and one fuel system.
The fuel infrastructure includes new 8,000-gallon tanks for premium, regular, and diesel, along with a new electrical/control system for the fuel system featuring an emergency shutoff. Additional improvements listed include new electrical for the entire store, new fuel pumps, and a recent Adem approval on the fuel system.
The combination of active retail and fuel service, along with the included car wash, provides a diversified vehicle-focused operation under one roof and one fuel system.
Key Highlights
- Convenience store and gas station operating as a Shell
- 2,280 SF retail store plus 850 SF‑plus car wash
- Tank setup includes 8,000‑gallon regular, 8,000‑gallon diesel, and 8,000‑gallon premium tanks
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
$27,448
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
2.89%
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%
$548,960
$549.0K
Cap Rate 7%
$392,114
$392.1K
Cap Rate 9%
$304,978
$305.0K
Market Conditions
NOI Build-Up for 2,280 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
$38.9K $17.04/SF
− Vacancy
−$2.3K −$0.99/SF
EGI
$36.6K $16.05/SF
− OpEx
−$9.1K −$4.01/SF
NOI
$27.4K $12.04/SF
Area
Baldwin County, AL
Vacancy
5.80%
Lease Rate
$17.04 /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%
$548,960
Cap Rate 7%
$392,114
Cap Rate 9%
$304,978
Alternative Uses
Best Use
Specialty Retail
$392.1K
$343.1K – $457.5K
NOI $27,448 @ 7.0% cap · market cap 2.89%
Second Best
Retail
$350.5K
$306.7K – $408.9K
NOI $24,534 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$548.3K
$479.8K – $639.7K
NOI $38,381 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
62k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Groceries 32%
Dining 21%
Piggly Wiggly
Groceries
19,781 visits/mo
0.3 miles
Circle K
Shops & Services
14,344 visits/mo
0.5 miles
Jack's Family Restaurants
Dining
11,788 visits/mo
0.1 miles
Dollar General
Shops & Services
7,891 visits/mo
0.1 miles
Family Dollar
Shops & Services
3,620 visits/mo
0.3 miles
Demographics for 36551, AL
10,514
Population
4,309
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
94%
High-School Grad
68.7 sq mi
ZIP Area
153
Density / Sq Mi
$68,625
Median Household Income
$34,784
Median Earnings
$1,151
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Operating convenience store and gas station with a 850 SF-plus car wash and multiple new fuel system components.
Where is this gas station located?
The property is located at 2134 S Hickory St Loxley, AL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Convenience store and gas station operating as a Shell; 2,280 SF retail store plus 850 SF‑plus car wash; Tank setup includes 8,000‑gallon regular, 8,000‑gallon diesel, and 8,000‑gallon premium tanks
