Boutique Historic Loft Multifamily
For Sale
$4,350,000
10 East Jefferson Street, Montgomery, AL 36104
Three boutique multifamily loft communities in Downtown Montgomery with historic adaptive reuse features and in-unit laundry.
Property Size23,365 SF
Days on Market93
Property Features for 10 East Jefferson Street
General Information
Standard status
Active
Size
23,365 SF
Property subtype
Schools/Education
Amenities
in-unit washer/dryer
private parking
Building Details
Building Size
23,365 SF
Buildings
3
Listing Agency:
Moore Company Realty, Inc
Listed By:
Gene Cody, CCIM
(334) 262-1958
Source:
Thebrokerlist
Added: Jul 29
Changed: Oct 25
Last Checked: Oct 28 at 4:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Moore Company Realty, Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Downtown Montgomery Lofts Portfolio is a three-asset multifamily offering with boutique loft-style living across Adams Avenue Flats and The Alps Lofts, including the Icehouse Lofts and The Gun Store Lofts. The properties are described as historic adaptive reuse buildings with exposed brick, hardwood flooring, oversized windows, and high ceilings, along with thoughtfully updated interiors.
The portfolio includes 12 E Jefferson St and 241 N Court St (The Alps) and 500 Adams Ave. The three communities are situated within approximately one mile of one another in Downtown Montgomery. The remarks also describe the locations as walkable to restaurants, entertainment venues, parks, government offices, and major employers.
In-unit amenity features called out include modern kitchens with granite countertops and in-unit washers and dryers, supported by private parking and updated residential finishes intended for an urban loft experience.
The portfolio includes 12 E Jefferson St and 241 N Court St (The Alps) and 500 Adams Ave. The three communities are situated within approximately one mile of one another in Downtown Montgomery. The remarks also describe the locations as walkable to restaurants, entertainment venues, parks, government offices, and major employers.
In-unit amenity features called out include modern kitchens with granite countertops and in-unit washers and dryers, supported by private parking and updated residential finishes intended for an urban loft experience.
Key Highlights
- Three‑asset portfolio featuring Adams Avenue Flats and The Alps Lofts (Icehouse Lofts and The Gun Store Lofts)
- Historic adaptive reuse lofts with exposed brick, hardwood flooring, oversized windows, and high ceilings
- Three properties located within approximately one mile of each other in Downtown Montgomery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,840
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,736,800
$3.7M
Cap Rate 7%
$2,669,143
$2.7M
Cap Rate 9%
$2,076,000
$2.1M
Market Conditions
NOI Build-Up for 23,365 SF
Gross rent
$364.5K $15.60/SF
− Vacancy
−$24.8K −$1.06/SF
EGI
$339.7K $14.54/SF
− OpEx
−$152.9K −$6.54/SF
NOI
$186.8K $8.00/SF
Area
Montgomery, AL
Vacancy
6.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,736,800
Cap Rate 7%
$2,669,143
Cap Rate 9%
$2,076,000
Alternative Uses
Best Use
Apartment 5plus
$2.67M
$2.34M – $3.11M
NOI $186,840 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.84M
$4.24M – $5.65M
NOI $339,148 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 36104, AL
9,021
Population
5,265
Households
1.7
Avg Household Size
31
Median Age
26%
College-Educated
76%
High-School Grad
10.5 sq mi
ZIP Area
859
Density / Sq Mi
$34,975
Median Household Income
$21,668
Median Earnings
$787
Median Rent
$121,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three boutique multifamily loft communities in Downtown Montgomery with historic adaptive reuse features and in-unit laundry.
Where is this multifamily property located?
The property is located at 10 East Jefferson Street Montgomery, AL.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Three‑asset portfolio featuring Adams Avenue Flats and The Alps Lofts (Icehouse Lofts and The Gun Store Lofts); Historic adaptive reuse lofts with exposed brick, hardwood flooring, oversized windows, and high ceilings; Three properties located within approximately one mile of each other in Downtown Montgomery
