Historic Building with Renovation
301 N Montgomery Ave Sheffield, AL 35660
For Sale
$950,000
1916 building with restaurant, apartments, and retail potential.
Property Size4,863 SF
Price / SF$195.35
Days on Market1723
Property Features for 301 N Montgomery Ave
General Information
Standard status
Active
Size
4,863 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1916
Listing Agency:
RE/MAX Tri-State
(256) 762-2701
Listed By:
Beth Pirtle · License #000101566-0
(256) 762-2701
Source:
Exitrealty
Added: Nov 8, 2021
Changed: Jul 6
Last Checked: Jul 27 at 5:15AM
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 RE/MAX Tri-State
Investment Insights
Based on property information with market context.
This building, constructed in 1916, is currently undergoing renovation. The building was formerly a bank and retains many original features. Plans for the completed building included apartments on the upper floors, a full restaurant on the main level, and a gift shop. The property, with a size of 4863 square feet, is being sold in its current 'as is' condition, and the renovations will not be completed by the current owner. The property is located on North Montgomery Avenue in Sheffield, Alabama.
Key Highlights
- Historic Building: Constructed in 1916, offering unique architectural traits.
- Renovation Potential: Partially renovated, presenting an opportunity for customization.
- Mixed‑Use Possibilities: Previously intended for apartments, a restaurant, and a gift shop, suggesting diverse income streams.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.6k | $10.20 |
| − Vacancy | −$3.0k | −$0.61 |
| EGI | $46.6k | $9.59 |
| − OpEx | −$11.7k | −$2.40 |
| NOI | $35.0k | $7.19 |
4,863 SF · lease $10.20/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$499.6K
$437.1K – $582.8K
NOI $34,970 @ 7.0% cap · market cap 3.68%
Second Best
Mixed Use
$458.5K
$401.2K – $534.9K
NOI $32,096 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$776.6K
$679.5K – $906.0K
NOI $54,360 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - 1916 building with restaurant, apartments, and retail potential.
Where is this mixed-use property located?
The property is located at 301 N Montgomery Ave Sheffield, AL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Historic Building: Constructed in 1916, offering unique architectural traits.; Renovation Potential: Partially renovated, presenting an opportunity for customization.; Mixed‑Use Possibilities: Previously intended for apartments, a restaurant, and a gift shop, suggesting diverse income streams.
