Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sheffield Multifamily Redevelopment Opportunity Title is generated by Realmo AI

    2905 E 12th Ave, Sheffield, AL 35660

    View on Map
    Claim this Listing
    New
    For Sale
    $549,000

    MULTI_FAMILY - Sheffield, AL

    Type:Apartment
    Lot size:
    1.32 Acres
    Added:
    May 27, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 1 at 9:06 pm

    Property Features for 2905 E 12th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Zoning
    M1
    Standard status
    Active
    APN
    07-09-29-4-007-001.000
    Lot size
    1.32 Acres

    Taxes and HOA fees

    Tax Description
    LOTS 13 THRU 20 BLK 309 SHEFFIELD 300 X 192 /DB 2024 PG 29267
    Tax Annual Amount
    404

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Number of units
    18

    We can help!

    Listing Contact
    Melissa Goduti

    Listing agent Melissa Goduti License #000164903

    Listing office MarMac Real Estate - The Shoals 417 E Mobile Street, Florence, AL

    Listing date May 27, 2026

    MLS# 529141 Listing URL

    Copyright © 2026 Strategic MLS Alliance, INC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 18 renovated townhome‑style units featuring new windows, roofs, flooring, walls, paint, and efficiency‑style kitchen sinks.
    • Rezoned for multifamily/townhome use.
    • Each unit sits on its own permanent foundation.
    • New utilities installed allowing separate meters for each unit.
    • Large on‑site space suitable for office, community room, or laundry facility.
    • Priced for quick sale.

    Overview

    This multifamily redevelopment project presents an investor opportunity. The property has undergone significant improvements, including 18 renovated townhome-style units. These units feature new windows, roofs, flooring, walls, and paint. Each unit includes an efficiency-style kitchen sink, hot water heater, and a studio layout with a private shower, toilet, and closet. The property has been rezoned for multifamily/townhome use, and each unit is situated on its own permanent foundation. New utilities have been installed, enabling separate metering for each unit. An additional large space on-site provides flexibility for an office, community room, or future laundry facility. The property is situated on a 1.32-acre lot. The property is located in Sheffield, Alabama. The zoning is M1. The property is intended for multifamily/townhome use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shady Court Tourist ... Housing Complex

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sheffield
    County
    Colbert
    State
    Alabama
    Longitude
    -87.6833068
    Latitude
    34.7641273

    Nearby Similar for Sale

    • $1,152,000
      24,680 SF

      Sheffield Multifamily Investment Opportunity

      32-unit multifamily property in Sheffield, AL, ready for renovation.
      701 6th St, Sheffield, AL 35660
      View Details
    • $375,000
      16,000 SF

      Sheffield Commercial Property For Sale

      Commercial property in Sheffield, AL, featuring a stage and bar.
      419 N Raleigh Avenue, Sheffield, AL 35660
      View Details
    • $350,000
      2,700 SF

      Renovated Office/Retail Building For Sale

      Freestanding 2,700 SF office/retail property in Sheffield, Alabama.
      2724 N Jackson Hwy, Sheffield, AL 35660
      View Details
    • $925,000
      6,000 SF

      Established Restaurant with Event Room

      Restaurant with fixtures and equipment included in downtown Sheffield.
      307 N Montgomery Ave, Sheffield, AL 35660
      View Details
    • $2,125,000
      64,062 SF

      Fully Leased Sheffield Industrial Facility

      64,000 SF industrial facility in Florence/Muscle Shoals MSA.
      103 S Atlanta Ave, Sheffield, AL 35660
      View Details
    • $1,610,000
      6,900 SF

      Established Business on Corner Lot

      Well-established clothing business with office space on a corner lot.
      300 N Montgomery Ave, Sheffield, AL 35660
      View Details
    • $164,900
      900 SF

      Sheffield Commercial Property For Sale

      900 sq ft commercial property on busy 2nd Street.
      1409 E 2nd St, Sheffield, AL 35660
      View Details
    • $440,000

      Sheffield Entertainment Venue For Sale

      Spacious entertainment venue with stage, bar, and patio.
      419 N Raleigh Avenue, Sheffield, AL 35660
      View Details
    • $1,075,000
      12,000 SF

      Remodeled Mixed-Use Building For Sale

      Large, remodeled mixed-use building with apartments and business potential.
      309 N Montgomery Ave, Sheffield, AL 35660
      View Details
    • $1,075,000
      12,000 SF

      Mixed-Use Property with Apartments

      Two buildings with established businesses and four apartments.
      310 N Montgomery Ave, Sheffield, AL 35660
      View Details
    • $199,900
      2,000 SF

      Sheffield Flex Space with Showroom

      Flex space featuring a showroom and warehouse in Sheffield.
      212 S Montgomery Ave, Sheffield, AL 35660
      View Details
    • $160,000
      2,320 SF

      High-Traffic Commercial Property For Sale

      Prime location across from Helen Keller Hospital with excellent visibility.
      1207 S Montgomery Ave, Sheffield, AL 35660
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multifamily redevelopment with 18 renovated units, ready for completion.
    Where is this apartment building located?
    The property is located at 2905 E 12th Ave Sheffield, AL.
    What is the asking price?
    The asking price for this property is $549,000.
    What are key features of this property?
    This property features: 18 renovated townhome‑style units featuring new windows, roofs, flooring, walls, paint, and efficiency‑style kitchen sinks.; Rezoned for multifamily/townhome use.; Each unit sits on its own permanent foundation.
    (256) 349-3638
    We can help!
    Listing Contact
    Melissa Goduti
    Real Estate License ID: 000164903
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2905 E 12th Ave, Sheffield, AL 35660
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!