Historic Apartment
12 E Jefferson St, Montgomery, AL 36104
For Sale
Contact for pricing
Three adaptive-reuse multifamily communities combine historic architectural details with updated residential interiors.
Property Size29,365 SF
Price / SF$148.14
Days on Market107
Property Features for 12 E Jefferson St
General Information
Standard status
Size
Class
Property subtype
Occupancy
Investment Type
Net Operating Income
Building Details
Buildings
Units
Tenancy
Listing Agency:
Moore Company Realty
Listed By:
Gene Cody, CCIM, SIOR · License AL #000084543
(334) 262-1958
Source:
Crexi
Added: Jul 27
Changed: Nov 10
Last Checked: Nov 10 at 5:42AM
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
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Investment Insights
Based on property information with market context.
This apartment portfolio includes three multifamily communities housed in historic adaptive-reuse properties: Adams Avenue Flats and The Alps Lofts, which includes Icehouse Lofts and The Gun Store Lofts. The combined property size is 29,365 square feet. Interior features include exposed brick, hardwood flooring, oversized windows, high ceilings, and updated finishes, creating distinct residential environments within repurposed buildings.
The properties are located at 12 E Jefferson St in Montgomery, Alabama, and sit within approximately one mile of one another. Their downtown setting places the communities near restaurants, entertainment venues, parks, government offices, and major employers. The portfolio also provides in-place cash flow through established operations across a concentrated group of assets.
The properties are located at 12 E Jefferson St in Montgomery, Alabama, and sit within approximately one mile of one another. Their downtown setting places the communities near restaurants, entertainment venues, parks, government offices, and major employers. The portfolio also provides in-place cash flow through established operations across a concentrated group of assets.
Key Highlights
- Three multifamily communities totaling 29,365 square feet
- Historic adaptive‑reuse apartment properties with distinct architectural character
- Adams Avenue Flats and The Alps Lofts portfolio, including Icehouse Lofts and The Gun Store Lofts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$234,819
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,696,380
$4.7M
Cap Rate 7%
$3,354,557
$3.4M
Cap Rate 9%
$2,609,100
$2.6M
Market Conditions
NOI Build-Up for 29,365 SF
Gross rent
$458.1K $15.60/SF
− Vacancy
−$31.2K −$1.06/SF
EGI
$426.9K $14.54/SF
− OpEx
−$192.1K −$6.54/SF
NOI
$234.8K $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%
$4,696,380
Cap Rate 7%
$3,354,557
Cap Rate 9%
$2,609,100
Alternative Uses
Best Use
Apartment 5plus
$3.35M
$2.94M – $3.91M
NOI $234,819 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.09M
$5.33M – $7.10M
NOI $426,239 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,051
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three adaptive-reuse multifamily communities combine historic architectural details with updated residential interiors.
Where is this apartment building located?
The property is located at 12 E Jefferson St 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 multifamily communities totaling 29,365 square feet; Historic adaptive‑reuse apartment properties with distinct architectural character; Adams Avenue Flats and The Alps Lofts portfolio, including Icehouse Lofts and The Gun Store Lofts
