613 Greensboro Ave Tuscaloosa, AL 35401

Property Details for 613 Greensboro Ave

Year built

1924

Lot size

0.21 lot acres

Property size

24,000 SF

Property type

Mixed-use properties

Description

This exceptional mixed-use property presents a unique redevelopment opportunity in the heart of downtown Tuscaloosa, Alabama. Located at 613 Greensboro Ave, this 0.21-acre lot (APN 31-05-22-1-110-012.000) boasts 24,000 square feet of space across three buildings, each with a footprint of 2,700-3,000 square feet. The property features three stories, including a basement level, offering significant potential for various uses. Currently vacant, the property is undergoing substantial structural renovations, including new roofs, steel supports, concrete footers, floor joists, refurbished masonry, and new mezzanines. Built in 1924, the property is zoned BC and benefits from its proximity to the University of Alabama campus. The asking price is $2,600,000, translating to $108.33 per square foot. This prime location, coupled with the extensive renovations underway, makes this an attractive investment, further enhanced by its eligibility for Opportunity Zone and Historic Tax Credit programs. The property's substantial size and central location provide a blank canvas for a creative developer to realize a highly profitable venture. The existing infrastructure improvements significantly reduce the initial investment required for a new owner.