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    Property profile & analytics

    5956 Main St Pennington, AL 36916

    • Retail properties
    • 10,500 SF
    For Lease
    View listing
    $8 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Dollar / Warehouse Store

    Property Details for 5956 Main St

    Property size
    10,500 SF
    Property type
    Retail properties
    Property subtype
    Freestanding property

    Description

    This exceptional 10,500-square-foot freestanding retail building is ideally situated at 5956 Main Street in Pennington, Alabama, within Choctaw County. The property boasts a single-tenant occupancy, currently vacant, presenting a unique opportunity for a variety of retail businesses. The building is a single-story structure with ample parking, providing 35 spaces for customer convenience. Its prime location on Main Street ensures high visibility and accessibility for potential customers. The building's previous tenant was a Family Dollar/Dollar Tree, indicating a strong history of retail success at this address. The existing lease with Family Dollar extends until May 31, 2032, offering a potential sublease opportunity. This presents a significant advantage for a new tenant, providing a long-term lease option with established infrastructure. The property's 10,500 square feet of vacant space offers considerable flexibility for customization and layout to suit a wide range of retail concepts. With its strategic location, substantial square footage, and ample parking, this property represents a compelling investment opportunity in a growing Alabama market. The property's zip code is 36916. The geographic coordinates are latitude 32.2082531 and longitude -88.0540867.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pennington
    County
    Choctaw
    State
    Alabama
    Longitude
    -88.0541
    Latitude
    32.2083

    Comparable in this City

    • Value Estimation
      $335,000
      15,840 SF

      Pennington, AL 36916

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 15,840 SF
      Pennington, AL 36916
      View Details
    • Value Estimation
      $290,000
      960 SF

      Pennington, AL 36916

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 960 SF
      Pennington, AL 36916
      View Details
    • Value Estimation
      $320,000
      2,000 SF

      Pennington, AL 36916

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,000 SF
      Pennington, AL 36916
      View Details
    • Value Estimation
      $295,000
      4,400 SF

      Pennington, AL 36916

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,400 SF
      Pennington, AL 36916
      View Details
    • Value Estimation
      $305,000
      864 SF

      Pennington, AL 36916

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 864 SF
      Pennington, AL 36916
      View Details
    • Value Estimation
      $285,000
      6,000 SF

      Pennington, AL 36916

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 6,000 SF
      Pennington, AL 36916
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      10,500 SF

      Pennington Retail Space - Main Street

      10,500 SF Freestanding Retail Building
      5956 Main St, Pennington, AL 36916
      View Details
    • $8 SF/Yr
      10,500 SF

      Pennington Retail Space Sublease Opportunity

      10,500 SF retail space; prime Main Street location.
      5956 Main Street, Pennington, AL 36916
      View Details
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    Pennington, AL 36916
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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