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    303 Main St Opp, AL 36467

    Sponsored
    For Sale
    $1,370,000

    High-yield NNN lease, strong tenant.

    Property size:
    8,353 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple ownership of an 8,353-square-foot grocery store located at 303 S Main St, Opp, Alabama, 36467. The property boasts a 7.75% cap rate and a strong NOI of $106,207. The tenant, Family Dollar, operates under a corporate-guaranteed absolute NNN lease with 5.6 years remaining, expiring June 29, 2030. Rent commencement is June 28, 2030. The lease, originally commencing September 13, 2015, includes rent bumps every three years, not exceeding 6%, providing consistent income growth. Built in 2016, this well-maintained property sits on a 1.67-acre lot and benefits from recent renovations completed by the tenant. The property enjoys 100% occupancy since its opening on September 13, 2015, and is situated in a high-traffic location with a reported 13,200 vehicles per day. The asking price is $1,370,000, translating to $164.01 per square foot. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant and significant upside potential. The property's location and the tenant's financial strength make this a compelling investment for discerning buyers. This is a net lease, meaning the tenant is responsible for all operating expenses.

    Property Features for 303 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,353 SF
    Lot Size
    72,745 SF

    Building Details

    Year Built
    2016

    HighLights

    • Absolute NNN lease with no landlord expenses.
    • Rent increases every 3 years, capped at 6%.
    • Tenant recently completed H2 upgrade renovations.
    • 5.6 years remaining on the lease term.
    • Corporate lease guaranty from Family Dollar Stores, Inc.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Opp
    County
    Covington
    State
    Alabama
    Longitude
    -86.2558775
    Latitude
    31.2810556

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    FAQs

    What type of property is this?
    Individual retail property - High-yield NNN lease, strong tenant.
    Where is this individual retail property located?
    The property is located at 303 Main St Opp, AL.
    What is the asking price?
    The asking price for this property is $1,370,000.
    What are key features of this property?
    This property features: Absolute NNN lease with no landlord expenses.; Rent increases every 3 years, capped at 6%.; Tenant recently completed H2 upgrade renovations.
    Request Owner's contact information
    303 Main St Opp, AL 36467
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    303 Main St Opp, AL 36467
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