Building Details

Year built 1945

Floors in Building 1

Flooring type Concrete

Listing Agency: Bhhs Rise Real Estate Show Phone

Listed By: Anne Adams · License #40164 Show Phone

Added: Jun 30 Changed: Oct 2 Last Checked: Oct 8 at 3:06PM

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MLS# 1819528

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Investment Insights

Based on property information with market context.

This grocery and convenience store property includes a 1,200-square-foot building on a 1.97-acre parcel. The structure dates to 1945 and has concrete flooring along with two bathrooms.

The property is located on Highway 431 S in New Hope, Alabama, approximately one mile from the Marshall County line. Public water serves the site, with wastewater handled by a septic tank.

Key Highlights

• 1,200‑square‑foot grocery and convenience store property
• 1.97‑acre parcel on Highway 431 S
• Building constructed in 1945

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,762

Cap Rate

5.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$335,240 $335.2K

Cap Rate 7%

$239,457 $239.5K

Cap Rate 9%

$186,244 $186.2K

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$23.0K $19.20/SF

− Vacancy

−$691 −$0.58/SF

EGI

$22.3K $18.62/SF

− OpEx

−$5.6K −$4.66/SF

NOI

$16.8K $13.97/SF

Area

Madison County, AL

Vacancy

3.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$335,240

Cap Rate 7%

$239,457

Cap Rate 9%

$186,244

Alternative Uses

Best Use

Specialty Retail

$239.5K

$209.5K – $279.4K (±1% cap)

NOI $16,762 @ 7.0% cap · market cap 5.08%

Second Best

Retail

$209.5K

$183.3K – $244.4K (±1% cap)

NOI $14,666 @ 7.0% cap · market cap 4.44%

Theoretical Best

Office A

$312.5K

$273.4K – $364.6K (±1% cap)

NOI $21,874 @ 7.0% cap · market cap 6.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 35760, AL

5,186

Population

1,935

Households

2.7

Avg Household Size

42

Median Age

28%

College-Educated

90%

High-School Grad

50.7 sq mi

ZIP Area

102

Density / Sq Mi

$66,346

Median Household Income

$50,711

Median Earnings

$790

Median Rent

$164,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

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$650,000

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Office Building with Drive-Through

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Compact commercial building with concrete flooring, two bathrooms, public water, and septic service.

Where is this grocery and convenience store located?

The property is located at Highway 431 S New Hope, AL.

What is the asking price?

The asking price for this property is $330,000.

What are key features of this property?

This property features: 1,200‑square‑foot grocery and convenience store property; 1.97‑acre parcel on Highway 431 S; Building constructed in 1945