323 Bibb St Montgomery, AL 36104
- Retail space
- 45,836 SF
- 0.61 lot acres
Current Use by Public Records
- Alabama Machinery & Supply Co. / Construction Equipment Supplier / Industrial Equipment Supplier
- AMS Enterprises / Accountant
Property Details for 323 Bibb St
- Year built
- 1964
- Lot size
- 0.61 lot acres
- Property size
- 45,836 SF
- Zone code
- T5
- Property type
- Retail space
- APN
- 11-01-12-4-404-021.000
- APU
- 1101124404021000
Description
This exceptional 40,859 square foot hotel property, located at 323 Bibb St. in Montgomery, Alabama, presents a unique investment opportunity. Boasting a prime location in the heart of the city's central business district, this single-tenancy property sits on a 0.16-acre lot and offers significant corner frontage on both Bibb and Molton Streets. Built in 1964, the building's history is complemented by its proximity to a new, multi-million dollar hotel development (Staybridge Hotels), indicating a thriving hospitality sector. The property's former use as a car dealership is reflected in its spacious layout, including a second-floor ramp ideally suited for showcasing vehicles, offering versatile redevelopment potential. Its strategic location is further enhanced by its proximity to major transportation arteries – just 0.86 miles from the I-85 and I-65 interchange – and its convenient distance to Maxwell Air Force Base (1.42 miles), serving a substantial population of active duty personnel, reservists, contractors, and retirees, as well as the Air Force University's 20,000 annual attendees. The property is zoned T5 and is offered at an asking price of $2,000,000. This presents a rare chance to acquire a substantial property in a rapidly developing area with high growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $595,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $480,000
- 6.5%
- $450,000
- 7%
- $510,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $480,000
- Geo Method
- $480,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $465,000
- Retail
- $475,000
- Mixed-Use
- $465,000
- Hospitality
- $490,000
- Educational
- $420,000
- Residential Income
- $475,000
- Energy
- $460,000
- Income-Based Land
- $405,000
- Food Service
- $375,000
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.3122
- Latitude
- 32.3774
- CBSA code
- 33860
- CBSA name
- MONTGOMERY, AL METROPOLITAN STATISTICAL AREA
