Remodeled Mixed-Use Building For
309 N Montgomery Ave Sheffield, AL 35660
309 N Montgomery Ave, Sheffield, AL, 35660
$1,075,000
For Sale
$1,075,000
Large, remodeled mixed-use building with apartments and business potential.
Property Size12,000 SF
Price / SF$89.58
Days on Market250
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 Agency
RE/MAX Tri-State
(256) 762-2701
Listed by
Beth Pirtle · License #000101566
(256) 762-2701
Source
Exitrealty
Added: Nov 9, 2025 Checked: Jul 16 at 7:45 am
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 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.
Key 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.
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.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sheffield Hardware
Building Supply
Similar For Sale Nearby
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.
