Park Place | Proximity to US Hwy 72 500 N Montgomery Ave

Mo Deeb Realty Group Inc., in tandem with Ten-X, is pleased to offer the unique mixed-use opportunity to acquire 500 N Montgomery Avenue, also known as Park Place. Park Place is an iconic facility that encompasses three buildings, an entire city block, and offers multiple skybridges connecting each building.

This three-building offering totals 201,120 square feet and includes 104 residential units, multiple retail storefronts, and spaces that can be used as a general office. Park Place is a mixed-use opportunity boasting value-add potential through lease-up. Future occupants will join a diverse tenant roster that includes, a salon, law offices, medical practices, and a general retail boutique. Investors will benefit from the surrounding population’s reliance on rental properties as their primary residence. With nearly 50% of the population within a 2-mile radius relying on rental properties, ownership will retain access to a stabilized tenant pool that has tallied over $20 million in household spending so far this year.

Lying on the banks of the Tennessee River in northwest Alabama, the quaint city of Sheffield is centrally located just over an hour from Huntsville, and lies between Florence, Muscle Shoals, and Tuscumbia. Nicknamed the “Center of the Shoals,” Sheffield is home to nearly 9,000 residents. The Property is in close proximity to University of North Alabama offering under a 10 minute commute for students. The city exemplifies small-town charm while also providing its residents with the amenities typically seen in larger metropolitan areas. Although Sheffield is primarily regarded as an industrial town, the locality is afforded access to a plethora of restaurants, shops, hospitals, and parks. Sheffield’s proximity to University of North Alabama, Alabama Music Hall of Fame, and Helen Keller’s Birthplace afford the ability to maintain its small-town feel, while also providing its residents with amenity access.
The Florence–Muscle Shoals Metropolitan Area, commonly known as "The Shoals", is a metropolitan statistical area in northwestern Alabama including the cities of Florence, Muscle Shoals, Tuscumbia, and Sheffield, and the counties of Lauderdale and Colbert. The 2020 Census population for the Shoals is 148,779 and an additional 410,000 commute to the Shoals daily as the economic, social, and educational center of northwest Alabama. The Shoals has also been known as the Tri-Cities and the Quad-Cities by locals.
The area is home to the University of North Alabama, located in Florence, and the birthplace of Helen Keller.