Mixed Use Investment — Sale in Troy, AL

  • Price: $1.4M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Troy, AL 36081
  • Size: 10,402 SF
  • Year built: 1890

Investment Figures

Cap rate
7.67%
Price per square foot
$135
Price per unit
$233,333 across 6 units

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The historic Gellerstedt portfolio features 3 mixed use buildings that have been immaculately renovated totalling 10,402 SF. These unique mixed-use, investor income producing properties are currently being utilized as 3 Air BNB units, 2 residential apartments and 1 retail unit. Situated in the heart of downtown Troy, Alabama this luxiorious package is just over a mile away from Troy University and nestled in a historic district which features southern infused shopping, restaurants and watering holes. Originally built in 1894 by Lawrence E. Gellerstedt this ornate building was home to the Gellerstedt Tailoring Co which became the largest in Alabama. They shipped on average 15 to 25 tailor made suits all over the United States, especially to New York and Chicago. In 2017 these buildings were retrofitted with both a modern look and amentities and now KW Commercial is proud to offer this turn key Air BNB package to a new investor. Building SF: 10402 | Land Size: 1873.0 SF | Year Built: 1890 | Listing Type: FOR SALE

Market Context

This retail in Troy, AL is listed for sale at $1,400,000 across 10,402 SF ($135/SF). It is offered at an approximate 7.7% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1890. It has been on the market for 70 days. Compare it against other retail listings for sale in Troy, AL — view the full market.

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