Well-Maintained Triplex
For Sale
$229,900
455 Shelby Street 1, Montevallo, AL 35115
Brick triplex with three two-bedroom, one-bath units near the University of Montevallo.
Property Size2,364 SF
Price / SF$97.25
Days on Market82
Property Features for 455 Shelby Street 1
General Information
Standard status
Active
Size
2,364 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1964
Listing Agency:
RealtySouth-Inverness Office
(205) 296-4615
Listed By:
Brian Bentley
(205) 296-4615
Source:
Exitrealty
Added: May 22
Changed: Aug 7
Last Checked: Aug 10 at 2:45AM
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 RealtySouth-Inverness Office
Investment Insights
Based on property information with market context.
This well-maintained brick triplex includes three separate residential units, each laid out as a two-bedroom, one-bath configuration. The property has been professionally managed for more than 10 years, and it includes a large storage shed for owner use.
Located in the heart of Montevallo, the property is described as a short walk from shopping, dining, local amenities, and the University of Montevallo campus. The listing highlights the convenience of the area for day-to-day needs and campus-related access.
From a tenant fit perspective, the consistent unit layout can simplify leasing and maintenance considerations, with two-bedroom, one-bath homes that can serve students, professionals, or long-term residents. The triplex also offers flexible occupancy options for an owner-occupant—live in one unit while renting the other two—or the ability to lease all three units. The brick exterior and long-term professional management record further support a straightforward, turnkey approach for investors and owner-users.
Located in the heart of Montevallo, the property is described as a short walk from shopping, dining, local amenities, and the University of Montevallo campus. The listing highlights the convenience of the area for day-to-day needs and campus-related access.
From a tenant fit perspective, the consistent unit layout can simplify leasing and maintenance considerations, with two-bedroom, one-bath homes that can serve students, professionals, or long-term residents. The triplex also offers flexible occupancy options for an owner-occupant—live in one unit while renting the other two—or the ability to lease all three units. The brick exterior and long-term professional management record further support a straightforward, turnkey approach for investors and owner-users.
Key Highlights
- Brick triplex built in 1964 with three 2‑bedroom, 1‑bath units
- All three units share the same 2BR/1BA layout
- Large storage shed included for owner use
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
$18,613
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
8.10%
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%
$372,260
$372.3K
Cap Rate 7%
$265,900
$265.9K
Cap Rate 9%
$206,811
$206.8K
Market Conditions
NOI Build-Up for 2,364 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
$29.8K $12.60/SF
− Vacancy
−$3.2K −$1.35/SF
EGI
$26.6K $11.25/SF
− OpEx
−$8.0K −$3.37/SF
NOI
$18.6K $7.87/SF
Area
Shelby County, AL
Vacancy
10.73%
Lease Rate
$12.60 /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%
$372,260
Cap Rate 7%
$265,900
Cap Rate 9%
$206,811
Alternative Uses
Best Use
Multifamily LT 5
$265.9K
$232.7K – $310.2K
NOI $18,613 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$235.3K
$205.9K – $274.5K
NOI $16,469 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$554.9K
$485.5K – $647.4K
NOI $38,841 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 35115, AL
15,260
Population
6,388
Households
2.4
Avg Household Size
34
Median Age
22%
College-Educated
82%
High-School Grad
123.4 sq mi
ZIP Area
124
Density / Sq Mi
$54,157
Median Household Income
$32,000
Median Earnings
$807
Median Rent
$165,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Brick triplex with three two-bedroom, one-bath units near the University of Montevallo.
Where is this triplex located?
The property is located at 455 Shelby Street 1 Montevallo, AL.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Brick triplex built in 1964 with three 2‑bedroom, 1‑bath units; All three units share the same 2BR/1BA layout; Large storage shed included for owner use
