New Construction Family Dollar
For Sale
Contact for pricing
3200 Main Street Altoona, Altoona, AL 35952
Freestanding Family Dollar in Altoona, Alabama with 9-year lease.
Property Size10,500 SF
Price / SF$171.29
Days on Market400
Property Features for 3200 Main Street Altoona
General Information
Standard status
Active
Size
10,500 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$125,895
Building Details
Year Built
2024
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay Charleston
Listed By:
Riley Harder · License #131554
Source:
Crexi
Added: Jul 28, 2025
Changed: Aug 13
Last Checked: Aug 29 at 12:21PM
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 Horvath & Tremblay Charleston
Investment Insights
Based on property information with market context.
This is an opportunity to purchase a new construction, freestanding Family Dollar investment property located at 3200 Main Street in Altoona, Alabama. The property has 9 years remaining on its lease, with five 5-year renewal options. The lease includes rent increases at the start of each renewal option. The property benefits from frontage and visibility along Main Street (AL Route 132), a primary commercial and commuter corridor. Family Dollar is the main shopping destination in Altoona. The location is 4 miles from US Highway 278, the primary east-west roadway, and is positioned between Oneonta and Gadsden, which offer retail and dining amenities, schools, employment opportunities, and hospitals. Additionally, the property is approximately 45 miles from Birmingham. The property size is 10500 square feet.
Key Highlights
- New construction (2024) freestanding Family Dollar.
- 9 years remaining on the lease with five (5), 5‑year renewal options.
- Attractive rent increases at the start of each renewal option.
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
$120,176
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
6.68%
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%
$2,403,520
$2.4M
Cap Rate 7%
$1,716,800
$1.7M
Cap Rate 9%
$1,335,289
$1.3M
Market Conditions
NOI Build-Up for 10,500 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
$170.1K $16.20/SF
− Vacancy
−$9.9K −$0.94/SF
EGI
$160.2K $15.26/SF
− OpEx
−$40.1K −$3.82/SF
NOI
$120.2K $11.45/SF
Area
Etowah County, AL
Vacancy
5.80%
Lease Rate
$16.20 /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%
$2,403,520
Cap Rate 7%
$1,716,800
Cap Rate 9%
$1,335,289
Alternative Uses
Best Use
Specialty Retail
$1.72M
$1.50M – $2.00M
NOI $120,176 @ 7.0% cap · market cap 6.68%
Second Best
Retail
$1.39M
$1.21M – $1.62M
NOI $97,020 @ 7.0% cap · market cap 5.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
1,818 visits/mo
0.2 miles
Demographics for 35952, AL
7,847
Population
3,914
Households
2
Avg Household Size
42
Median Age
12%
College-Educated
77%
High-School Grad
109.4 sq mi
ZIP Area
72
Density / Sq Mi
$44,973
Median Household Income
$29,460
Median Earnings
$661
Median Rent
$120,400
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?
Grocery and convenience store - Freestanding Family Dollar in Altoona, Alabama with 9-year lease.
Where is this grocery and convenience store located?
The property is located at 3200 Main Street Altoona Altoona, AL.
What is the asking price?
The asking price for this property is $1,798,500.
What are key features of this property?
This property features: New construction (2024) freestanding Family Dollar.; 9 years remaining on the lease with five (5), 5‑year renewal options.; Attractive rent increases at the start of each renewal option.
