31 Commerce StMontgomery, AL 36104

Property Details for 31 Commerce St

Year built

1982

Lot size

0.17 AC

Property size (Sq ft)

12,746 SF

Zone code

T5

Property type

Retail space

APN

11-01-12-4-404-016.000

APU

1101124404016000

Description

This exceptional Class A, 11,673 sq ft mixed-use building is located in Montgomery, Alabama's central business district, at 31 Commerce St. Situated on a 0.17-acre lot, this vacant, two-story property offers unparalleled visibility adjacent to the Chamber of Commerce. Built in 1982, the concrete structure features a versatile open floor plan, a dock-high loading dock, and a service elevator, ensuring convenience and accessibility. The T-4 Smart Code zoning allows for a wide range of uses, making it ideal for various businesses. Its prime location offers easy access to popular restaurants, the market, the Alley Entertainment District, and major interstates (I-65 and I-85 are within 0.8 and 1.3 miles respectively). The asking price is $390,000, with a price per square foot of $33.41. This NNN lease property presents a unique chance to establish a thriving business in a vibrant downtown setting, benefiting from high foot traffic and proximity to approximately 450 new residential units. The multi-tenancy structure provides flexibility for various business models.

• CAP approach

  CAP return

  Valuation

  6%

  $2,475,627

  6.5%

  $2,285,194

  7%

  $2,121,966

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,449,227

  Geo Method

  $6,265,312

• Alternative Use

  Use

  Valuation

  Residential

  $1,927,647

  Hospitality

  $1,765,714

  Educational

  $1,469,053

  Medical

  $1,519,576

  Retail

  $2,285,194

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.3779

Longitude

-86.3103

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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