Investment Overview

Marcus & Millichap is pleased to present Flats 417, a high-quality, mixed-use property. This well-maintained mixed-use property offers an excellent investment opportunity in the heart of the Shoals region. The building features ten residential apartments above one ground-level retail space, providing a balanced mix of income streams. Renovated approximately four years ago, the property reflects very good quality construction and finishes, with updates designed to enhance both functionality and long-term durability. The residential units offer comfortable living spaces attractive to a range of tenants, while the highly visible street-level retail space benefits from steady pedestrian and vehicle traffic. The recent renovation has positioned the property for continued strong performance with minimal near-term capital needs, making it an appealing option for investors seeking stable cash flow in a vibrant regional market. Area Description – Florence and the Shoals The property is located in Florence, one of the four cities that make up the renowned The Shoals region in northwest Alabama. The Shoals—comprised of Florence, Muscle Shoals, Sheffield, and Tuscumbia—is widely known for its rich musical heritage, diverse local economy, and strong sense of community. The region offers a high quality of life with a blend of historic character, scenic riverfront landscapes along the Tennessee River, and a growing mix of retail, dining, and cultural attractions. Florence serves as the educational and cultural hub of the Shoals and is home to University of North Alabama. Founded in 1830 as LaGrange College, the university is one of the oldest institutions of higher learning in the state and today enrolls thousands of undergraduate and graduate students across a wide range of academic programs. The campus plays a significant role in the local economy and community life, supporting employment, research, arts, athletics, and year-round cultural events. Its presence also contributes to consistent housing demand in the area, benefiting multifamily properties such as this one. In addition to the university’s influence, the Shoals region enjoys a stable economic base supported by manufacturing, healthcare, education, and tourism. With its historic downtown districts, proximity to major transportation corridors, and reputation as a center for music history and outdoor recreation, the Florence and Shoals area continues to attract residents, students, and visitors alike.