500 Montgomery AveSheffield, AL 35660

Property Details for 500 Montgomery Ave

Year built

1948

Property size (Sq ft)

55,305 SF

Property type

Hospitality properties

Property subtype

Other retail properties

Description

This exceptional mixed-use property, located at 500 N Montgomery Ave, Sheffield, AL 35660, encompasses 2.5 blocks of downtown Sheffield, a city renowned as the birthplace of Helen Keller and conveniently situated just five miles from Florence. The property, with APN 07-08-28-3-004-003.000, comprises four buildings totaling 55,305 square feet on a 61,696 square foot lot. Constructed in 1948, this unique investment opportunity was originally a hospital, thoughtfully converted into a vibrant mixed-use complex. The property boasts 116 keys, currently operating at 77% occupancy, and features a diverse mix of residential and commercial spaces. The residential component includes 116 units, offering a variety of configurations: 15 studio apartments, 23 one-bedroom units, 16 two-bedroom units, 28 deluxe studios, and 24 additional one and two-bedroom units distributed across the buildings. The commercial space includes a restaurant and office areas on the lower floor, creating a dynamic and synergistic environment. The property's proximity to North Alabama University and Northwest-Shoals Community College provides a strong potential for sustained rental demand. This is a rare opportunity to acquire a substantial, established mixed-use property in a thriving Alabama community. The four, four-story buildings offer a unique blend of historical charm and modern functionality, presenting a compelling investment prospect for owner-users.

Location Insight

City

Sheffield

County

Colbert

State

Alabama

Latitude

34.7632

Longitude

-87.6982

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