Remodeled Mixed-Use Building For
309 N Montgomery Ave, Sheffield, AL 35660
Large, remodeled mixed-use building with apartments and business potential.
Type:Commercial/Industrial
Property size:
12,000 SFPrice / SF:
$89/SF- Added:
- Nov 8, 2025
- Days on Market:
- 205
- Last Refresh:
- Apr 8 at 12:14 am
Property Features for 309 N Montgomery Ave
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2014
Listing agent Beth Pirtle License #000101566 (256) 762-2701
Listing office RE/MAX Tri-State (256) 762-2701
Listing date Nov 8, 2025
Source Exitrealty
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
HighLights
- Large building completely remodeled in 2014.
- Includes four apartments on the upper level (2 x 2‑bedroom/2‑bath, 2 x 1‑bedroom/1‑bath).
- Apartments are fully occupied with a waiting list.
- Main level features beautiful hardwood floors.
- Building only is being sold, offering business potential.
- Currently operating as a hardware store.
Overview
This large building, currently operating as a hardware store, was completely remodeled in 2014. The sale includes the building only. The upper level features two 2-bedroom, 2-bath apartments and two 1-bedroom, 1-bath apartments, all of which are currently occupied with a waiting list. The main level boasts hardwood floors. The property offers significant business potential. The building has a size of 12000 square feet.
Local Financial Insights For Mixed Use
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 | $144.0k | $12.00 |
| − Vacancy | −$17.3k | −$1.44 |
| EGI | $126.7k | $10.56 |
| − OpEx | −$47.5k | −$3.96 |
| NOI | $79.2k | $6.60 |
12,000 SF · lease $12.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.13M
$990.0K – $1.32M
NOI $79,200 @ 7.0% cap · market cap 7.37%
Second Best
Retail
$1.07M
$936.0K – $1.25M
NOI $74,879 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,139 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Sheffield Hardware
Building Supply
Location Insight
- Map
- Local Demand
- City
- Sheffield
- County
- Colbert
- State
- Alabama
- Longitude
- -87.698698
- Latitude
- 34.756469
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Large, remodeled mixed-use building with apartments and business potential.
Where is this mixed-use property located?
The property is located at 309 N Montgomery Ave Sheffield, AL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Large building completely remodeled in 2014.; Includes four apartments on the upper level (2 x 2‑bedroom/2‑bath, 2 x 1‑bedroom/1‑bath).; Apartments are fully occupied with a waiting list.
