Unfinished Mixed-Use
For Sale
$950,000
301 N Montgomery Ave, Sheffield, AL 35660
Commercial Sale, Sheffield, AL
Property Size4,863 SF
Price / SF$195.35
Days on Market1808
Property Features for 301 N Montgomery Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 2
Parking features
On Street
Interior features
Ceiling-High, Storage (Interior)
Subdivision
Sheffield
Lot features
City Lot, Corner Lot
Elementary school
City
Middle school
City
High school
City
Directions
SECOND STREET TO MONTGOMERY AVE, RIGHT ONTO MONTGOMERY AVE BUILDING ON THE LEFT.
Standard status
Active
APN
0708283010039000
Size
4,863 SF
Taxes and HOA fees
Tax Description
LOTS 23 &24 BLK 62 SHEFFIELD 50 X 120
Legal 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 · RE/MAX International
(256) 383-7787
Listed By:
Beth Pirtle · License #000101566
(256) 810-4786
Added: Nov 3, 2021
Changed: Oct 8
Last Checked: Oct 15 at 12:06PM
MLS# 502222
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.
Located at 301 N Montgomery Ave in Sheffield, this 4,863-square-foot mixed-use building dates to 1916 and was previously used as a bank. The property is undergoing renovation but will transfer unfinished and in its current condition. Existing features include high ceilings, interior storage, concrete flooring, central heating, and central air conditioning, with block and brick construction.
The interior configuration includes four bathrooms and space that had been planned for a combination of residential and commercial uses. Renovation concepts included seven upstairs apartments, a restaurant on the main level, and a gift shop. The building is served by public water and public sewer, with on-street parking available. B1 zoning is in place for the property.
The interior configuration includes four bathrooms and space that had been planned for a combination of residential and commercial uses. Renovation concepts included seven upstairs apartments, a restaurant on the main level, and a gift shop. The building is served by public water and public sewer, with on-street parking available. B1 zoning is in place for the property.
Key Highlights
- 4,863 square feet of mixed‑use building area
- Built in 1916 with block and brick construction
- Former bank building undergoing renovation; sold unfinished and as‑is
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,970
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,400
$699.4K
Cap Rate 7%
$499,571
$499.6K
Cap Rate 9%
$388,556
$388.6K
Market Conditions
NOI Build-Up for 4,863 SF
Gross rent
$49.6K $10.20/SF
− Vacancy
−$3.0K −$0.61/SF
EGI
$46.6K $9.59/SF
− OpEx
−$11.7K −$2.40/SF
NOI
$35.0K $7.19/SF
Area
Colbert County, AL
Vacancy
6.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,400
Cap Rate 7%
$499,571
Cap Rate 9%
$388,556
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.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,491 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former bank building under renovation with flexible interior space and B1 zoning in Sheffield.
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: 4,863 square feet of mixed‑use building area; Built in 1916 with block and brick construction; Former bank building undergoing renovation; sold unfinished and as‑is
