Pickett Place

Special Purpose for Sale
Catylist Listing ID: 30269007
Building Size (RSF): 8,380 SF
Gross Building Area: See Agent
Gross Land Area: 0.59 Acres
Sale Price: $975,000
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/24/2018

Overview / Comments

A rare opportunity to invest in a wonderfully unique piece of Shoals-area history. One of the few remaining examples of Tidewater architecture in Alabama, the original home was built in 1833 by early-Florence hotelier Thomas Crowe on Military Road (now known as Hermitage Drive), which was the main thoroughfare between Nashville and New Orleans. The property became known as Pickett Place when it was purchased in 1886 by a distinguished public servant by the name of Richard O. Pickett, who was, at the time, regarded as one of the best lawyers in North Alabama. After leading the Tenth Alabama Infantry during the Civil War, Colonel Pickett returned to North Alabama where he served as a county judge, delegate to the Alabama Constitutional Convention of 1875, and state legislator for multiple terms. While Colonel Pickett only lived in the home for a small portion of its existence, his distinguished career and good name still identify the home to this day.

The property was occupied as a residence until the 1960s, when Dr. John B. Rice and Dr. Quintus Langstaff utilized the home as medical clinic. The home has also been previously utilized as an antique store, tea room, and housed one of the early retail shops of famed American fashion designer Billy Reid.

After the current owners purchased the property in 2000, Pickett Place underwent a painstaking 18-month renovation, restoring the home to its former glory and preserving its historical integrity. In 2012, an 1,800+ SF reception / meeting hall was built on the property. Over the past decade, Pickett Place has become one of the Shoals area’s premier event venues, hosting every special occasion imaginable. The property has been awarded the Alabama Historical Society's Preservation Award, as well as multiple beautification awards from the Florence Beautification Board. A 1,280 SF structure located at 216 Hermitage Drive is also included, which has been utilized in the recent past as a small office but could be razed to provide additional parking.

Please note that several events are booked through the summer and early fall of 2018. The seller will delay closing until these events have occurred unless the new owner desires to maintain the event venue business at the property and fulfill these obligations.

Additional Details

Nearest MSA: Florence-Muscle Shoals
County: Lauderdale
Taxing Authority: Lauderdale County
Tax ID/APN: 24-02-10-4-001-039.000; 24-02-10-4-001-040.000
Zoning: R-B RESIDENTIAL BUSINESS
Property Visibility: Excellent
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Excellent
Year Built: 1833
Year Renovated: 2012
Roof Type: Gable
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,326 35,436 65,823
Median Age: 31.99 37.15 39.62
Households: 3,617 15,705 28,822

Contact

Photograph of Listing Agent

Justin Bishop, CCIM

Pounders and Associates, Inc.
The information presented herein is provided as is, without warranty of any kind. Neither Catylist nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.