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    Shell-Condition 6-Unit Apartment Building Title is generated by Realmo AI

    379 JUSTICE AVENUE, Anniston, AL 36205

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    For Sale
    $165,000

    MULTI_FAMILY - ANNISTON, AL

    Added:
    Apr 20, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 379 JUSTICE AVENUE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    18-05-22-3-002-001.004

    Taxes and HOA fees

    Tax Description
    SEC 22 TSP 15S R 8E MCCLELLAN INVESTMENTS LLC RUCKER STREET TRACT 4 ANNISTON AL

    Utilities

    Water source
    Public

    Building Details

    Year built
    1940
    Number of units
    6
    Building materials
    Concrete/Block

    We can help!

    Listing Contact
    Sylvia Bentley
    Sylvia Bentley

    Listing agent Sylvia Bentley License #42013

    Listing office ERA King Real Estate 1530 Hillyer Robinson Ind. Pky, Anniston, AL

    Listing date Apr 20, 2026

    MLS# 21450455 Listing URL

    Copyright © 2026 Greater Alabama MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 6 separate units in an income‑producing multifamily property
    • Shell condition—ready for completion based on your plans
    • Concrete/block construction
    • Year built: 1940
    • Public water source

    Overview

    This for-sale multifamily property consists of a 6-unit apartment building that is currently in shell condition. The asset is configured as separate units, but it is not presented as completed or fully built out in the provided information, making it suited for an operator, investor, or builder looking to complete the renovations and finalize finishes for rental readiness.

    The property is located at 379 Justice Avenue in Anniston, Alabama 36205, in Calhoun County. The public remarks indicate it is positioned in the heart of McClellan, with development and progress described as surrounding context; however, no additional specifics about frontage, access, or nearby tenants are provided.

    Given its shell condition and 6 separate units, this building may fit well for a range of strategies that depend on completing improvements, including long-term leasing or shorter-stay operations. Prospective buyers should plan for tenant-ready buildout and confirm final scope, unit layouts, and completion requirements prior to purchase. For parties seeking a value-add multifamily project in Anniston, this is a straightforward starting point centered on finishing and transitioning the units into income-producing space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Big Box & Wholesale Store Hotel & Motel Pharmacy Gym & Fitness Center Skin Care Clinic Garden Center Daycare Center Coworking & Hybrid Office Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Anniston
    County
    Calhoun
    State
    Alabama
    Longitude
    -85.710304
    Latitude
    33.704383

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    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily building in shell condition, offering a renovation project for long-term or short-term income uses.
    Where is this apartment building located?
    The property is located at 379 JUSTICE AVENUE Anniston, AL.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: 6 separate units in an income‑producing multifamily property; Shell condition—ready for completion based on your plans; Concrete/block construction
    (256) 310-2800
    We can help!
    Listing Contact
    Sylvia Bentley
    Sylvia Bentley
    Real Estate License ID: 42013
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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