High-Exposure Redevelopment
For Sale
Contact for pricing
24141 AL Hwy 24, Trinity, AL 35673
Prime corner lot suitable for a destination-grade convenience store.
Property Size4,744 SF
Lot Size3.00 Acres
Price / SF$316.19
Days on Market267
Property Features for 24141 AL Hwy 24
General Information
Standard status
Active
Size
4,744 SF
Lot size
3.00 Acres
Property subtype
Retail
Zoning
M1
Investment Type
Redevelopment
Building Details
Year Built
2007
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Aegis Commercial Real Estate LLC
Listed By:
Jared Dison · License #AL 000110309
Source:
Crexi
Added: Nov 17, 2025
Changed: Aug 8
Last Checked: Aug 11 at 2:10PM
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 Aegis Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
Located at the corner of Hwy 24 and County Road 327, this 3-acre property offers a redevelopment opportunity for a convenience store or travel stop. The site features 530 feet of frontage on Hwy 24 and 175 feet on CR 327, providing visibility and access. The existing building, previously a steakhouse, includes a new roof, a new HVAC unit, a commercial kitchen equipped for high-volume hot food operations, three-phase power, and an engineered septic system. The open dining and retail layout is suited for a hybrid convenience store model emphasizing fresh food and grab-and-go service. Marathon Oil Corporation provides an incentive package, including 10 new pumps, underground tanks, and canopy. The property is positioned to establish a high-throughput travel center in a growing North Alabama market.
Key Highlights
- Prime 3‑acre corner lot with high visibility at Hwy 24 and County Road 327.
- $800,000 incentive package from Marathon Oil Corporation, including 10 new pumps, underground tanks, and canopy.
- High‑exposure redevelopment opportunity for a destination‑grade convenience store/travel stop.
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
$52,924
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
3.53%
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%
$1,058,480
$1.1M
Cap Rate 7%
$756,057
$756.1K
Cap Rate 9%
$588,044
$588.0K
Market Conditions
NOI Build-Up for 4,744 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
$75.7K $15.96/SF
− Vacancy
−$5.1K −$1.09/SF
EGI
$70.6K $14.87/SF
− OpEx
−$17.6K −$3.72/SF
NOI
$52.9K $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%
$1,058,480
Cap Rate 7%
$756,057
Cap Rate 9%
$588,044
Alternative Uses
Best Use
Specialty Retail
$756.1K
$661.6K – $882.1K
NOI $52,924 @ 7.0% cap · market cap 3.53%
Second Best
Retail
$560.5K
$490.4K – $653.9K
NOI $39,232 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$987.0K
$863.6K – $1.15M
NOI $69,088 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 35673, AL
8,100
Population
3,561
Households
2.3
Avg Household Size
42
Median Age
13%
College-Educated
86%
High-School Grad
46.2 sq mi
ZIP Area
175
Density / Sq Mi
$75,366
Median Household Income
$42,307
Median Earnings
$730
Median Rent
$191,400
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 - Prime corner lot suitable for a destination-grade convenience store.
Where is this gas station located?
The property is located at 24141 AL Hwy 24 Trinity, AL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime 3‑acre corner lot with high visibility at Hwy 24 and County Road 327.; $800,000 incentive package from Marathon Oil Corporation, including 10 new pumps, underground tanks, and canopy.; High‑exposure redevelopment opportunity for a destination‑grade convenience store/travel stop.
