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309 N Montgomery Ave Sheffield, AL 35660

Retail space Google Maps
11,956 SF Built 1920
Entity Owned 11-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$135k
Range $122k – $149k (±10%)
Property ID US03-2302548

Property summary

AI-generated overview

This exceptional 18,000 square foot commercial building located at 309 Montgomery Ave, Sheffield, AL, presents a unique investment opportunity. Currently operating as a hardware store, the sale includes only the building itself. A complete remodel was undertaken in 2014, significantly enhancing its value and functionality. The property boasts substantial income-generating potential from its residential units. Specifically, the upper level comprises two two-bedroom, two-bathroom apartments and two one-bedroom, one-bathroom apartments, all currently occupied and with a waiting list. This consistent rental income stream provides a strong foundation for future investment returns. The main level features attractive hardwood floors, offering a versatile space adaptable to a variety of commercial uses. The building's size and location in Sheffield, AL, offer significant business potential, making it an ideal acquisition for investors seeking a blend of commercial and residential income. The property sits on a zero-acre lot, focusing the investment solely on the building itself. The asking price is $1,075,000. This is a rare opportunity to acquire a substantial, remodeled commercial property with proven rental income.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1920
Total area 11,956 SF
APN 07-08-28-3-010-041.000
UPID US03-2302548

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Building Supply Hardware & Home Improvement

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$135k

Owner & transaction history

since 2015
2 recorded transactions
2015
$97,500
2014
$100,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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