500 Montgomery Ave Sheffield, AL 35660

This exceptional mixed-use property, located at 500 N Montgomery Ave, Sheffield, AL 35660, encompasses 2.5 blocks of downtown Sheffield, a city renowned as the birthplace of Helen Keller and conveniently situated just five miles from Florence. The property, with APN 07-08-28-3-004-003.000, comprises four buildings totaling 55,305 square feet on a 61,696 square foot lot. Constructed in 1948, this unique investment opportunity was originally a hospital, thoughtfully converted into a vibrant mixed-use complex. The property boasts 116 keys, currently operating at 77% occupancy, and features a diverse mix of residential and commercial spaces. The residential component includes 116 units, offering a variety of configurations: 15 studio apartments, 23 one-bedroom units, 16 two-bedroom units, 28 deluxe studios, and 24 additional one and two-bedroom units distributed across the buildings. The commercial space includes a restaurant and office areas on the lower floor, creating a dynamic and synergistic environment. The property's proximity to North Alabama University and Northwest-Shoals Community College provides a strong potential for sustained rental demand. This is a rare opportunity to acquire a substantial, established mixed-use property in a thriving Alabama community. The four, four-story buildings offer a unique blend of historical charm and modern functionality, presenting a compelling investment prospect for owner-users.