76 Ct Sq Troy, AL 36081-2619

Property Details for 76 Ct Sq

Year built

1890

Lot size

0.05 lot acres

Property size

2,093 SF

Zone code

C

Property type

Office Properties & Spaces

APN

55 10 09 29 3 304 032.000

APU

551009293304032000

Description

This exceptional investment opportunity presents a meticulously renovated, six-unit mixed-use property located in the heart of Troy, Alabama. The portfolio comprises three buildings totaling 10,402 square feet, situated on a 1,873 square foot lot. Originally constructed in 1894 and thoughtfully updated in 2017, this property offers a unique blend of historic charm and modern amenities. The portfolio includes three Airbnb units, two traditional multi-family units, and one retail space, creating a diverse and resilient income stream. Currently operating at 100% occupancy, the property boasts a strong NOI of $107,388, with a pro-forma NOI projected at $124,633, resulting in a pro-forma cap rate of 8.90%. The asking price is $1,400,000, translating to $134.59 per square foot and $233,333.33 per unit. The buildings are three stories high and benefit from their prime location in downtown Troy, just over a mile from Troy University, surrounded by thriving businesses and attractions. This turnkey investment is ideal for those seeking a high-yield, value-add opportunity in a desirable location. The property's strong performance and potential for further growth make it a compelling investment prospect. The current cap rate of 7.67% offers immediate returns, while the pro-forma cap rate suggests significant upside potential. This is a rare chance to acquire a well-maintained, historically significant property with a proven track record of success.