Description

243 Catoma Street offers a 68,000-square-foot, multi-tenant industrial and flex investment in downtown Montgomery. The five-unit property combines approximately 40,000 square feet of warehouse area with flexible commercial space, providing a mix suited to distribution, service, retail, and light-industrial users. Advance Auto Parts is an established tenant, while the remaining vacancy gives a buyer a defined lease-up opportunity alongside existing income.

The building was originally developed in 1928 and underwent substantial improvements in 2019, including a new roof and windows. Operational features include two dock-high doors, five grade-level doors, a sprinkler system, abundant natural light, surface parking, and frontage along Catoma, Bibb, and Wilkinson streets. The property is zoned T-2 Smart Code and sits within a designated Opportunity Zone in Montgomery’s central business district.

The location is approximately 1.1 miles from the I-65 and I-85 interchange, supporting convenient access throughout the Montgomery region and to major transportation routes. Multiple street frontages improve circulation and visibility for tenants, customers, and service vehicles.

The property is offered at $2,750,000, equating to approximately $40.44 per square foot. Reported net operating income is $203,792, producing a 7.41% capitalization rate at the asking price. With current tenancy, recent capital improvements, functional loading, and available space for additional leasing, 243 Catoma Street presents an income-producing value-add opportunity for an investor seeking an adaptable downtown industrial asset.