425 W Tennessee St | Florence, AL 35630
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- LoopNet Team
425 W Tennessee St
Florence, AL 35630
Fully Occupied near Downtown Florence, AL · Multifamily Property For Sale
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17 Units
INVESTMENT HIGHLIGHTS
- Fully occupied multi-family asset in a strong market with access to the University of North Alabama and Florence's growing population.
- The Florence-Muscle Shoals multi-family market has tallied an impressive 5.6% rental rate growth over the past year.
- Over 18,000 businesses employ more than 2,000 residents within a three-mile radius of the property.
- 425 W Tennessee Street is a value-add investment presenting the opportunity to increase capital gains through gradual rental rate increases.
- Residents living within a three-mile radius boast a household spending total of $46,875,485 year-to-date in 2023.
- 425 W Tennessee Street is near multiple national retailers and food purveyors, including Taco Bell, Cook Out, Walgreens, Hines Tire, and more.
PROPERTY FACTS
| Sale Condition | Auction Sale | Lot Size | 0.62 AC |
| Type of Ownership | Fee Simple | Building Size | 10,938 SF |
| No. Units | 17 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1941 |
| Apartment Style | Low-Rise | Parking Ratio | 2.19/1,000 SF |
| Building Class | C | Parcel Number | 24-05-15-1-003-044.000 |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.62 AC |
| Building Size | 10,938 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1941 |
| Parking Ratio | 2.19/1,000 SF |
| Parcel Number | 24-05-15-1-003-044.000 |
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