Fully Leased Shopping
For Sale
$2,400,000
907 Ann St, Montgomery, AL 36107
Two-tenant retail center with Interstate 85 exposure and direct positioning in front of a Walmart Supercenter.
Property Size7,080 SF
Price / SF$352.94
Days on Market67
Property Features for 907 Ann St
General Information
Standard status
Active
Size
7,080 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Corner Location
Yes
Building Details
Building Size
7,080 SF
Year Built
2008
Tenancy
Multi
Listing Agency:
hodges commercial real estate
(334) 495-8888
Listed By:
Paul Hodges · License #28068
(334) 495-8888
Source:
Hodgescommercialrealestate
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 2:48PM
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 hodges commercial real estate
Investment Insights
Based on property information with market context.
This 6,800-square-foot shopping center, built in 2008, occupies the corner of Interstate 85 and Ann Street in Montgomery. The property is fully leased to America’s Best Contacts & Eyeglasses and Smoker’s World Tobacco & Vape, with both tenants operating under long-term leases that include scheduled rent increases and renewal options. America’s Best is backed by a corporate guarantee from National Vision Holdings, Inc.
The center benefits from exposure to more than 125,000 vehicles per day on I-85 and 28,000 vehicles per day on Ann Street. It is positioned directly in front of a Walmart Supercenter and within a retail corridor that includes Chick-fil-A, Ross, AT&T, Verizon, and Dollar Tree. The property is located at 907–909 Ann Street in Montgomery, Alabama.
The center benefits from exposure to more than 125,000 vehicles per day on I-85 and 28,000 vehicles per day on Ann Street. It is positioned directly in front of a Walmart Supercenter and within a retail corridor that includes Chick-fil-A, Ross, AT&T, Verizon, and Dollar Tree. The property is located at 907–909 Ann Street in Montgomery, Alabama.
Key Highlights
- 6,800‑square‑foot shopping center built in 2008
- 100% occupied by America’s Best Contacts & Eyeglasses and Smoker’s World Tobacco & Vape
- America’s Best lease includes a corporate guarantee from National Vision Holdings, Inc.
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
$75,490
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
3.15%
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%
$1,509,800
$1.5M
Cap Rate 7%
$1,078,429
$1.1M
Cap Rate 9%
$838,778
$838.8K
Market Conditions
NOI Build-Up for 6,800 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
$114.2K $16.80/SF
− Vacancy
−$6.4K −$0.94/SF
EGI
$107.8K $15.86/SF
− OpEx
−$32.4K −$4.76/SF
NOI
$75.5K $11.10/SF
Area
Montgomery, AL
Vacancy
5.60%
Lease Rate
$16.80 /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%
$1,509,800
Cap Rate 7%
$1,078,429
Cap Rate 9%
$838,778
Alternative Uses
Best Use
Retail
$1.08M
$943.6K – $1.26M
NOI $75,490 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,703 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
459k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Superstores 21%
Shops & Services 17%
Apparel 6%
Walmart
Superstores
94,419 visits/mo
0.2 miles
Chick-fil-A
Dining
49,636 visits/mo
0.0 miles
McDonald's
Dining
34,073 visits/mo
0.3 miles
Dollar Tree
Shops & Services
25,387 visits/mo
0.2 miles
Ross Dress for Less
Apparel
23,621 visits/mo
0.2 miles
Demographics for 36107, AL
8,418
Population
3,995
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
84%
High-School Grad
3.2 sq mi
ZIP Area
2,631
Density / Sq Mi
$31,895
Median Household Income
$27,173
Median Earnings
$883
Median Rent
$69,800
Median Home Value
Market
Vacancy Rate% for Retail in Montgomery, AL
Questions? Ask Rey
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Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — Winn Dixie, 1740 Carter Hill Rd, Montgomery, AL 36106
- Midtown Plaza — 955 Ann St, Montgomery, AL 36107
- Quick-Tag — Walmart Supercenter, 851 Ann St, Montgomery, AL 36107
Frequently Asked Questions
What type of property is this?
Shopping center - Two-tenant retail center with Interstate 85 exposure and direct positioning in front of a Walmart Supercenter.
Where is this shopping center located?
The property is located at 907 Ann St Montgomery, AL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 6,800‑square‑foot shopping center built in 2008; 100% occupied by America’s Best Contacts & Eyeglasses and Smoker’s World Tobacco & Vape; America’s Best lease includes a corporate guarantee from National Vision Holdings, Inc.
