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Property profile & analytics
OFF-MARKET Estimated value $1,770,000
Strip malls

500 Patton Ave Montgomery, AL 36111-2404

13,112 SF 13.11 ac lot Built 1954
Entity Owned 3-yr Hold Absentee Owner Free & Clear
Property ID
US03-3047945
Property summary
AI-generated overview

The iconic Normandale Shopping Center in Montgomery, Alabama, is undergoing a significant revitalization. This historic retail center, located at 500 E Patton Ave, 36111, is poised for a remarkable comeback. Currently, a 17,000 square foot retail space is available for lease within this multiple-tenancy property in Montgomery County. The center's upcoming improvements include fresh paint, upgraded storefronts, enhanced parking lot conditions, and improved lighting, reflecting a substantial landlord investment. This space presents a unique opportunity for businesses seeking a high-visibility location in a revitalized shopping center. Larger spaces are also available, ranging up to 80,000 square feet, with some featuring exceptional features such as a beautiful glass dome offering abundant natural light. The 80,000 square foot space will boast a brand-new roof and glass storefront. This is an exceptional chance to secure a prominent position in one of Montgomery's most successful and historically significant retail destinations. The property is classified as Retail Space with multiple tenancies. The total building square footage is not currently specified.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1954
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 13,112 SF
Lot 13.11 ac (570,984 SF)
Zoning code B-2
APN 10-09-30-4-013-001.002
UPID US03-3047945
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • PNC ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.50M
CAP Approach CAP
$2.40M
Comparable Approach Comparable
$1.23M
Blend (final) Blend
$1.77M
Owner & transaction history
Patton Commerical LLC · 3 yrs held
Patton Commerical LLC
since 2022
Last sale
$2.0M
3 recorded transactions
2022
$2.0M
2008
$3.1M
2005
Price N/A
Zoning & alternative use
B-2 · Montgomery, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

lands at service stations is at least ten feet from all property lines. **Off site parking may be provided to meet this requirement, provided previous approval is obtained from the planning commission. Individual Stores B-2, Highway Commercial B-3 Item Districts B-2 B-3 Classes of business or services permitted A, B & C A, B & C Classes of business or servic…

Zone name Business District Individual Stores
General category COMMERCIAL
Zone area 3,361.47 ac
Source code of ordinances
Top alternative use upside
Apartment house (5+ units) $2.8M +177.0%
Medical building $1.8M +76.6%
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