2142 Spruce StMontgomery, AL 36106

Property Details for 2142 Spruce St

Year built

1950

Construction

FRAME

Lot size

0.34 AC

Property size (Sq ft)

1,023 SF

Zone code

R-60-S

Property type

Office buildings

APN

10-04-17-4-006-002.000

APU

1004174006002000

Description

This exceptional 1.55-acre commercial property, located at 2142 Spruce Street in Montgomery, Alabama (zip code 36106), presents a unique investment opportunity. Zoned M-1, this fee-simple land offers a wide array of permitted uses, including light industrial applications and various retail businesses as allowed under B-2 zoning. These possibilities encompass stores selling diverse merchandise (food, apparel, furniture, etc.), service businesses (dry cleaning, barber shops, offices), and even automobile services. The property benefits from convenient interstate access via I-85, utilizing Forest Avenue or Ann Street. Adding to its versatility, the site includes an existing 2,500 square foot block building. This structure features a 10' x 10' overhead door, two 3' x 6.8' walk-in doors, and a 16' x 26' framed office space with two small bathrooms (one plumbed and functional). Three-phase power is readily available. The property consists of eight contiguous tax parcels. This densely populated area offers limited available land, making this a highly desirable investment at a reduced price of $158,000 cash at closing. The property is conveniently located near Interstate 85.

• CAP approach

  CAP return

  Valuation

  6%

  $132,532

  6.5%

  $122,337

  7%

  $113,599

• Comparable approach

  Method

  Valuation

  Relative Method

  $199,546

  Geo Method

  $199,546

• Alternative Use

  Use

  Valuation

  Residential

  $151,698

  Hospitality

  $138,954

  Educational

  $115,608

  Medical

  $119,584

  Retail

  $179,835

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.3648

Longitude

-86.2802

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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