Multifamily Townhome
For Sale
Contact for pricing
2905 East 12th Avenue, Sheffield, AL 35660
Redevelopment project with 18 renovated townhome-style units and separate utilities, plus additional on-site space for flexible uses.
Property Size7,110 SF
Price / SF$77.22
Days on Market142
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Property Features for 2905 East 12th Avenue
General Information
Standard status
Active
Size
7,110 SF
Class
C
Property subtype
Multifamily, Mobile Home Park, Senior Living
Zoning
M-1
Investment Type
Value Add
Additional Details
Multifamily Units
18
Building Details
Year Renovated
2026
Buildings
19
Units
18
Tenancy
Multi
Listing Agency:
MarMac Real Estate
Listed By:
Melissa Goduti · License #000164903-0
(256) 284-0351
Source:
Crexi
Added: May 27
Changed: Oct 13
Last Checked: Oct 14 at 10:15PM
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 MarMac Real Estate
Investment Insights
Based on property information with market context.
This multifamily/townhome redevelopment offers 18 renovated townhome-style units that have already received new windows, roofs, flooring, walls, and paint. Unit improvements also include efficiency-style kitchen sinks and hot water heaters, along with studio layouts featuring private showers, toilets, and closets. Each unit is set on its own permanent foundation, and new utilities have been installed to support separate metering for individual units. In addition to the residential units, there is additional large space on-site that can support an office, a community room, or a future laundry facility.
The property has been rezoned for multifamily/townhome use, aligning the project with its intended configuration. The offering is presented as a redevelopment opportunity to complete final touches. The property is sold as-is, with buyer responsibility to verify all information deemed important.
For investors or operators looking to finish a conversion, the partially completed renovations, separate unit foundations, and individual metering provide a practical foundation for continuing the project. The extra on-site space adds versatility for common-area or service-oriented functions, subject to buyer plans and verification of all requirements. Contact the listing agent for available details on the redevelopment scope and renovation specifics.
The property has been rezoned for multifamily/townhome use, aligning the project with its intended configuration. The offering is presented as a redevelopment opportunity to complete final touches. The property is sold as-is, with buyer responsibility to verify all information deemed important.
For investors or operators looking to finish a conversion, the partially completed renovations, separate unit foundations, and individual metering provide a practical foundation for continuing the project. The extra on-site space adds versatility for common-area or service-oriented functions, subject to buyer plans and verification of all requirements. Contact the listing agent for available details on the redevelopment scope and renovation specifics.
Key Highlights
- Multifamily/townhome redevelopment project with 18 renovated townhome‑style units
- Units have new windows, roofs, flooring, walls, and paint, plus efficiency‑style kitchen sinks and hot water heaters
- Studio layouts include private showers, toilets, and closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,574
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,480
$751.5K
Cap Rate 7%
$536,771
$536.8K
Cap Rate 9%
$417,489
$417.5K
Market Conditions
NOI Build-Up for 7,110 SF
Gross rent
$72.5K $10.20/SF
− Vacancy
−$4.2K −$0.59/SF
EGI
$68.3K $9.61/SF
− OpEx
−$30.7K −$4.32/SF
NOI
$37.6K $5.28/SF
Area
Colbert County, AL
Vacancy
5.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,480
Cap Rate 7%
$536,771
Cap Rate 9%
$417,489
Alternative Uses
Best Use
Apartment 5plus
$536.8K
$469.7K – $626.2K
NOI $37,574 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$993.5K – $1.32M
NOI $79,477 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
18
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
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Business Placement
Demographics for 35660, AL
9,434
Population
5,139
Households
1.8
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
6.2 sq mi
ZIP Area
1,522
Density / Sq Mi
$42,510
Median Household Income
$31,302
Median Earnings
$850
Median Rent
$129,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Redevelopment project with 18 renovated townhome-style units and separate utilities, plus additional on-site space for flexible uses.
Where is this apartment building located?
The property is located at 2905 East 12th Avenue 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: Multifamily/townhome redevelopment project with 18 renovated townhome‑style units; Units have new windows, roofs, flooring, walls, and paint, plus efficiency‑style kitchen sinks and hot water heaters; Studio layouts include private showers, toilets, and closets
