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500 N Montgomery Ave
Sheffield, AL 35660
Park Place | Proximity to US Hwy 72 · Multifamily Property For Sale · 116 Units

Investment Highlights

  • Mixed-use investment, encompassing three buildings and offering proximity to US Highway 72.
  • Within a strong multifamily market, market rent per unit has grown 5% year over year.
  • 500 N Montgomery Ave is located near national retailers, including Dollar General, Walmart Supercenter, Chick-fil-A, and more.
  • Park Place offers immense value-add potential through residential, retail, and office lease-up.
  • Residents living within a 2-mile radius have tallied a consumer spending total of over $136 million year-to-date.
  • Property Includes 507 Nashville Ave, 515 Montgomery Ave, and 501 Montgomery Ave

Property Facts

Sale Condition Auction Sale
Type of Ownership Fee Simple
No. Units 116
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Office Office Residential
Apartment Style Mid-Rise
Building Class C
Lot Size 1.42 AC
Building Size 188,552 SF
Average Occupancy 77%
No. Stories 4
Year Built/Renovated 1948/2014
Parking Ratio 0.7/1,000 SF
Zoning Colbert - LOTS 4 THRU 12 & 23 & 24 BLK 44 SHEFFIELD 241 X 256 IRR ALSO VACATED ALLEYS /DB 2011 PG 25828-25831
Parcel Numbers
07-08-28-3-004-001.000
  • 07-08-28-3-004-002.000
  • 07-08-28-3-004-003.000
  • 07-08-28-3-004-009.000
  • 07-08-28-3-004-010.000
  • 07-08-28-3-004-013.000
  • 07-08-28-3-005-014.000
  • 07-08-28-3-005-021.000
  • 07-08-28-3-005-022.000
  • 07-08-28-3-005-023.000

Amenities

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Hardwood Floors
  • Carpet
  • Wi-Fi

Site Amenities

  • Business Center
  • Clubhouse
  • Laundry Facilities
  • Property Manager on Site
  • Breakfast/Coffee Concierge
  • Wheelchair Accessible
  • Maid Service
  • On-Site Retail
  • Smoke Free
  • Wi-Fi
  • Community-Wide WiFi
  • Conference Rooms
  • Maintenance on site

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 30 - -
1+1 49 - -
2+1 25 - -
  • Listing ID: 31797805

  • Date on Market: 5/14/2024

  • Last Updated:

  • Address: 500 N Montgomery Ave, Sheffield, AL 35660

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