Business Overview:
This is primarily a land opportunity for for real estate and capital investors. The site currently has a fully occupied 43 unit apartment complex generating a steady cash flow for the seller of approximately $100K-$120K per year. However, this greater downtown area has entered into a fast growing community providing a wealth of opportunities for commerce, governmental functions, entertainment, cultural arts and heritage, residential diversity, tourism venues, easy access to a nationally-recognized educational institution, all within proximity to the beautiful backdrop of the Black Warrior riverfront. The area has many more developments recently completed, in the works, and in discussion. Existing New 129,000 square foot Federal Plaza Building, New Government Plaza, New Intermodal Downtown Parking Facility, City Hall Annex III, New Amphitheater, New Transportation Museum, New Publix Shopping Center, Numerous overhaul and remodeling of existing downtown buildings. Future Growth: 2 blocks - hotel and convention center; across street - approx. 7 acres recently purchased for $7M for future single family townhomes. Adjacent to above site. Building on approx. 1/3 acre purchased for $300,000; Farmer s Market and Visitors Center,
Additional homes, lofts, retail establishments, and refurbishing.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Located in a prominent and rapidly revitalizing downtown area, this apartment complex is on highly underutilized 2 acres of land.
Additional Details:
- The property is owned.
- The owner is not willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
Resources: