Mixed-Use Building with Bank
301 N Montgomery Ave Sheffield, AL 35660
301 N Montgomery Ave, Sheffield, AL, 35660
$950,000
For Sale
$950,000
COMMERCIAL - Sheffield, AL
Property Size4,863 SF
Price / SF$195.35
Days on Market1718
Property Features for 301 N Montgomery Ave
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B1
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 1
- Parking features
- On Street
- Interior features
- Ceiling-High, Storage (Interior)
- Standard status
- Active
- APN
- 0708283010039000
- Size
- 4,863 SF
Taxes and HOA fees
- Tax Description
- LOTS 23 &24 BLK 62 SHEFFIELD 50 X 120
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1916
- Flooring type
- Concrete
- Building materials
- Block, Brick, Other (ConstrMat)
- Additional Structures
- Storage
Listing Agency
RE/MAX Tri-State
(256) 383-7787
1661 S Wilson Dam Rd, Florence, AL
Listed by
Beth Pirtle · License #000101566
(256) 810-4786
Added: Nov 3, 2021 Checked: Jul 17 at 5:06 am
MLS# 502222
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.
Investment Insights
Based on property information with market context.
This mixed-use building was built in 1916 and is currently under renovation. Public remarks indicate the structure once operated as a bank and includes unique features tied to that history. The seller states the property will be sold as-is and will not be finished out.
According to the provided description, the planned completed configuration includes seven apartments upstairs, a full restaurant on the main level, and a gift shop. The building is listed under zoning B1.
The available information does not specify the current unit count or the extent of finished improvements at the time of sale.
According to the provided description, the planned completed configuration includes seven apartments upstairs, a full restaurant on the main level, and a gift shop. The building is listed under zoning B1.
The available information does not specify the current unit count or the extent of finished improvements at the time of sale.
Key Highlights
- Built in 1916; historic bank building with unique interior character
- Under renovation for several months and sold as‑is and will not be finished out
- Construction includes block and brick with concrete flooring
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Historic building built in 1916, currently under renovation, sold as-is and not finished out.
Where is this apartment building 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: Built in 1916; historic bank building with unique interior character; Under renovation for several months and sold as‑is and will not be finished out; Construction includes block and brick with concrete flooring
