28 Shoals BlvdFlorence, AL 35630

Property Details for 28 Shoals Blvd

Year built

1898

Lot size

0.45 AC

Property size (Sq ft)

2,800 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a historic 2-unit hotel/motel in Florence, Alabama, boasting a substantial 11.62% capitalization rate and a strong net operating income (NOI) of $58,000. The property, known as the Jackson House, comprises three buildings on a 0.45-acre lot, totaling 2,800 square feet. Built in 1898 and extensively renovated in 2022, this charming two-story property offers two keys, currently operating as a successful Airbnb with multiple income streams. One unit generates $1,800 monthly rental income, while the main house commands $425 per night. Further income potential exists by leasing the five bedrooms individually, or by completing the nearly finished garage conversion into a studio apartment. Conveniently located at 28 Shoals Blvd, Florence, AL 35630, this property benefits from proximity to a Division 1 college and easy access to the Shoals area. The property is poised for continued growth and offers a compelling return on investment for discerning buyers. While not yet certified, the property is ready to be registered as a historic landmark. This presents a unique opportunity to acquire a profitable, historic property with significant upside potential.

Location Insight

City

Florence

County

Lauderdale

State

Alabama

Latitude

34.824

Longitude

-87.6243

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