Freestanding Single-Tenant
For Sale
Contact for pricing
6912 FIRST AVE N, Birmingham, AL 35206
A brand-new 10-year double net lease supports long-term tenant stability in a highly visible, heavily trafficked corridor.
Property Size4,000 SF
Lot Size0.78 Acres
Price / SF$192.86
Days on Market93
Property Features for 6912 FIRST AVE N
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.78 Acres
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$54,000
Additional Details
Cap Rate
7%
Traffic Count
19,250 vehicles/day
Building Details
Year Built
1983
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Austin
(512) 338-7872
Listed By:
Douglas Diffie · License #TX 656858
Source:
Crexi
Added: Jun 1
Changed: Aug 23
Last Checked: Sep 1 at 12:57AM
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 - Austin
Investment Insights
Based on property information with market context.
This freestanding, single-tenant retail property totals approximately 4,000 square feet on 0.78 acres. The offering is structured as a net lease and is currently occupied by TitleMax. The tenant recently executed a brand-new 10-year double net lease, with 1.5% annual rent increases.
The building is located on heavily traveled 1st Avenue North in Birmingham, Alabama, with prominent signage and visibility to nearly 19,250 vehicles passing daily. The site sits in a dense infill corridor, with more than 9,100 residents within a 1-mile radius, and is positioned near other retail activity, including national retailers. It also benefits from proximity to Birmingham-Shuttlesworth International Airport and Interstate 59.
For investors seeking a stabilized, long-duration cash flow profile, this NNN retail asset combines a newer lease term with contractual annual increases. Its freestanding configuration and location along a high-traffic arterial can support continued operational continuity for a tenant in the retail market.
The building is located on heavily traveled 1st Avenue North in Birmingham, Alabama, with prominent signage and visibility to nearly 19,250 vehicles passing daily. The site sits in a dense infill corridor, with more than 9,100 residents within a 1-mile radius, and is positioned near other retail activity, including national retailers. It also benefits from proximity to Birmingham-Shuttlesworth International Airport and Interstate 59.
For investors seeking a stabilized, long-duration cash flow profile, this NNN retail asset combines a newer lease term with contractual annual increases. Its freestanding configuration and location along a high-traffic arterial can support continued operational continuity for a tenant in the retail market.
Key Highlights
- Single‑tenant 4,000 SF freestanding retail property built in 1983
- 0.78‑acre site on heavily traveled 1st Avenue North with nearly 19,250 vehicles passing daily
- Brand‑new 10‑year Double Net lease executed by the tenant for long‑term commitment
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
$39,094
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
5.07%
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%
$781,880
$781.9K
Cap Rate 7%
$558,486
$558.5K
Cap Rate 9%
$434,378
$434.4K
Market Conditions
NOI Build-Up for 4,000 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
$62.4K $15.60/SF
− Vacancy
−$6.6K −$1.64/SF
EGI
$55.8K $13.96/SF
− OpEx
−$16.8K −$4.19/SF
NOI
$39.1K $9.77/SF
Area
Birmingham, AL
Vacancy
10.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$781,880
Cap Rate 7%
$558,486
Cap Rate 9%
$434,378
Alternative Uses
Best Use
Retail
$558.5K
$488.7K – $651.6K
NOI $39,094 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$938.9K
$821.5K – $1.10M
NOI $65,722 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,250 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 35206, AL
15,648
Population
7,967
Households
2
Avg Household Size
40
Median Age
19%
College-Educated
87%
High-School Grad
10.1 sq mi
ZIP Area
1,549
Density / Sq Mi
$39,051
Median Household Income
$28,665
Median Earnings
$990
Median Rent
$122,500
Median Home Value
Market
Vacancy Rate% for Retail in Birmingham, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A brand-new 10-year double net lease supports long-term tenant stability in a highly visible, heavily trafficked corridor.
Where is this retail space located?
The property is located at 6912 FIRST AVE N Birmingham, AL.
What is the asking price?
The asking price for this property is $771,428.
What are key features of this property?
This property features: Single‑tenant 4,000 SF freestanding retail property built in 1983; 0.78‑acre site on heavily traveled 1st Avenue North with nearly 19,250 vehicles passing daily; Brand‑new 10‑year Double Net lease executed by the tenant for long‑term commitment
