Dollar General Convenience
New
For Sale
$1,489,659
8620 Old Pascagoula Rd, Theodore, AL 36582
The 2020-built store is offered with an Absolute NNN lease structure and access to the greater Mobile market.
Property Size9,026 SF
Days on Market2
Property Features for 8620 Old Pascagoula Rd
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Retail - Street Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
9,026 SF
Year Built
2020
Tenancy
Single
Listing Agency:
Exclusive Realty
Listed By:
Shelby Sagmani Sulaiman · License #6501385089
Source:
Commercialcafe
Added: Sep 21
Last Checked: Sep 22 at 1:36PM
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 Exclusive Realty
Investment Insights
Based on property information with market context.
This grocery and convenience store property is occupied by Dollar General and was constructed in 2020. The offering features a larger Dollar General Plus prototype and an Absolute NNN lease structure, under which the tenant is generally responsible for real estate taxes, insurance, maintenance, repairs, and other property-level expenses, subject to the lease documents. Contractual rent increases and a corporate Dollar General guarantee are also identified as part of the offering.
Located at 8620 Old Pascagoula Rd in Theodore, Alabama, the property is positioned within Mobile County and the greater Mobile metropolitan area. Theodore provides access to Interstate 10, U.S. Highway 90, local roadways, established residential neighborhoods, employment centers, and the broader Mobile market. The surrounding community includes grocery and convenience stores, restaurants, automotive services, schools, healthcare providers, and neighborhood businesses.
Located at 8620 Old Pascagoula Rd in Theodore, Alabama, the property is positioned within Mobile County and the greater Mobile metropolitan area. Theodore provides access to Interstate 10, U.S. Highway 90, local roadways, established residential neighborhoods, employment centers, and the broader Mobile market. The surrounding community includes grocery and convenience stores, restaurants, automotive services, schools, healthcare providers, and neighborhood businesses.
Key Highlights
- Dollar General grocery and convenience store at 8620 Old Pascagoula Rd, Theodore, AL 36582
- Constructed in 2020
- Absolute NNN lease structure
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
$136,473
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
9.16%
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%
$2,729,460
$2.7M
Cap Rate 7%
$1,949,614
$1.9M
Cap Rate 9%
$1,516,367
$1.5M
Market Conditions
NOI Build-Up for 9,026 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
$189.5K $21.00/SF
− Vacancy
−$7.6K −$0.84/SF
EGI
$182.0K $20.16/SF
− OpEx
−$45.5K −$5.04/SF
NOI
$136.5K $15.12/SF
Area
Mobile, AL
Vacancy
4.00%
Lease Rate
$21.00 /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%
$2,729,460
Cap Rate 7%
$1,949,614
Cap Rate 9%
$1,516,367
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.71M – $2.27M
NOI $136,473 @ 7.0% cap · market cap 9.16%
Second Best
Retail
$1.71M
$1.49M – $1.99M
NOI $119,471 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,588 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36582, AL
25,903
Population
10,409
Households
2.5
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
79.7 sq mi
ZIP Area
325
Density / Sq Mi
$61,498
Median Household Income
$37,043
Median Earnings
$916
Median Rent
$170,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - The 2020-built store is offered with an Absolute NNN lease structure and access to the greater Mobile market.
Where is this grocery and convenience store located?
The property is located at 8620 Old Pascagoula Rd Theodore, AL.
What is the asking price?
The asking price for this property is $1,489,659.
What are key features of this property?
This property features: Dollar General grocery and convenience store at 8620 Old Pascagoula Rd, Theodore, AL 36582; Constructed in 2020; Absolute NNN lease structure
