309 Montgomery AveSheffield, AL 35660

Property Details for 309 Montgomery Ave

Year built

1920

Property size (Sq ft)

11,956 SF

Property type

Retail space

APN

07-08-28-3-010-041.000

APU

708283010041000

Description

This exceptional 18,000 square foot commercial building located at 309 Montgomery Ave, Sheffield, AL, presents a unique investment opportunity. Currently operating as a hardware store, the sale includes only the building itself. A complete remodel was undertaken in 2014, significantly enhancing its value and functionality. The property boasts substantial income-generating potential from its residential units. Specifically, the upper level comprises two two-bedroom, two-bathroom apartments and two one-bedroom, one-bathroom apartments, all currently occupied and with a waiting list. This consistent rental income stream provides a strong foundation for future investment returns. The main level features attractive hardwood floors, offering a versatile space adaptable to a variety of commercial uses. The building's size and location in Sheffield, AL, offer significant business potential, making it an ideal acquisition for investors seeking a blend of commercial and residential income. The property sits on a zero-acre lot, focusing the investment solely on the building itself. The asking price is $1,075,000. This is a rare opportunity to acquire a substantial, remodeled commercial property with proven rental income.

• CAP approach

  CAP return

  Valuation

  6%

  $3,717,257

  6.5%

  $3,431,314

  7%

  $3,186,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,907,732

  Geo Method

  $5,876,986

• Alternative Use

  Use

  Valuation

  Residential

  $2,894,442

  Hospitality

  $2,651,293

  Educational

  $2,205,845

  Medical

  $2,281,707

  Retail

  $3,431,314

Location Insight

City

Sheffield

County

Colbert

State

Alabama

Latitude

34.7613

Longitude

-87.699

CBSA code

22520

CBSA name

FLORENCE-MUSCLE SHOALS, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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