Storefront Building With
For Sale
$1,075,000
309 N Montgomery Ave, Sheffield, AL 35660
Commercial Sale, Sheffield, AL
Property Size12,000 SF
Price / SF$89.58
Days on Market1763
Property Features for 309 N Montgomery Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 5, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 6
Parking features
On Street
Interior features
Ceiling-High, Counters - Solid Surface, Inside Storage, Living Space Available, Recessed Lighting, Utility Sink
Subdivision
Sheffield
Lot features
City Lot
Elementary school
City
Middle school
City
High school
City
Directions
SECOND STREET TO MONTGOMERY AVE, RIGHT ONTO MONTGOMERY AVE. BUILDING ON LEFT.
Standard status
Active
APN
0708283010041000
Size
12,000 SF
Taxes and HOA fees
Tax Description
LOTS 19 & 20 BLK 62 SHEFFIELD 50 X 120
Legal Description
LOTS 19 & 20 BLK 62 SHEFFIELD 50 X 120
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2014
Flooring type
Concrete, Wood (flooring)
Building materials
Block, Brick, Other (ConstrMat)
Roof type
Metal
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: Aug 19
Last Checked: Aug 31 at 8:06AM
MLS# 502216
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 12,000-square-foot storefront building at 309 N Montgomery Ave includes commercial space on the main level and apartments above. The building was totally remodeled in 2014 and features hardwood flooring, high ceilings, solid-surface counters, interior storage, recessed lighting, and a utility sink. Central heating and central air serve the property, which has block and brick construction, a metal roof, and on-street parking.
The upper level contains a 2-bedroom, 2-bath apartment and two 1-bedroom, 1-bath apartments. All apartments are occupied and have a waiting list. Public water and public sewer serve the property, with electricity available. The sale includes the building only; the current hardware store operation is not included.
The upper level contains a 2-bedroom, 2-bath apartment and two 1-bedroom, 1-bath apartments. All apartments are occupied and have a waiting list. Public water and public sewer serve the property, with electricity available. The sale includes the building only; the current hardware store operation is not included.
Key Highlights
- 12,000‑square‑foot storefront building
- Upper level includes a 2‑bedroom, 2‑bath apartment and two 1‑bedroom, 1‑bath apartments
- All apartments are occupied with a waiting list
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,879
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,497,580
$1.5M
Cap Rate 7%
$1,069,700
$1.1M
Cap Rate 9%
$831,989
$832.0K
Market Conditions
NOI Build-Up for 12,000 SF
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.
Gross rent
$119.5K $9.96/SF
− Vacancy
−$12.5K −$1.05/SF
EGI
$107.0K $8.91/SF
− OpEx
−$32.1K −$2.67/SF
NOI
$74.9K $6.24/SF
Area
Colbert County, AL
Vacancy
10.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,497,580
Cap Rate 7%
$1,069,700
Cap Rate 9%
$831,989
Alternative Uses
Best Use
Retail
$1.07M
$936.0K – $1.25M
NOI $74,879 @ 7.0% cap · market cap 6.97%
Second Best
Multifamily LT 5
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 6.58%
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lola’s Gifts & Flowers — 214 N Montgomery Ave, Sheffield, AL 35660
- Sheffield Flower Delivery — Park Blvd, Sheffield, AL 35660, United States
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront building with upper-level apartments and wood flooring across the main level.
Where is this storefront 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: 12,000‑square‑foot storefront building; Upper level includes a 2‑bedroom, 2‑bath apartment and two 1‑bedroom, 1‑bath apartments; All apartments are occupied with a waiting list
