Turnkey Office Space in
For Sale
$135,000
2323 W Main Ste 211, Dothan, AL 36301
COMMERCIAL - Dothan, AL
Property Size996 SF
Lot Size0.25 Acres
Price / SF$135.54
Days on Market768
Property Features for 2323 W Main Ste 211
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
7 NW-Inside Circle
Standard status
Active
APN
0905221003001018
Lot size
0.25 Acres
Building Details
Year built
1984
Floors in Building
2
Listing Agency:
Lan Darty Real Estate & Development
(334) 699-2300
Listed By:
Sandra Houston
(334) 200-1129
Added: Jul 25, 2024
Changed: Aug 4
Last Checked: Aug 31 at 12:06PM
MLS# 199401
Copyright © 2026 Southeast Alabama Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a 996 square foot turnkey office space located on the second floor of an office complex. The property is situated at the corner of West Main and Roosevelt, offering high visibility. The renovated space includes three private offices, a reception area, a lobby, a customer waiting area, an open meeting or break area, and two bathrooms, along with an office refrigerator. The office is accessible via two separate staircases and an available elevator.
Key Highlights
- Turnkey, renovated office space ready for immediate occupancy.
- High visibility location at the corner of W. Main and Roosevelt.
- Functional layout with three private offices, reception, lobby, waiting area, and open meeting/break area.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$153,420
$153.4K
Cap Rate 7%
$109,586
$109.6K
Cap Rate 9%
$85,233
$85.2K
Market Conditions
NOI Build-Up for 996 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$12.5K $12.60/SF
− Vacancy
−$2.3K −$2.33/SF
EGI
$10.2K $10.27/SF
− OpEx
−$2.6K −$2.57/SF
NOI
$7.7K $7.70/SF
Area
Houston County, AL
Vacancy
18.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$153,420
Cap Rate 7%
$109,586
Cap Rate 9%
$85,233
Alternative Uses
Best Use
Office B
$109.6K
$95.9K – $127.9K
NOI $7,671 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$176.0K
$154.0K – $205.4K
NOI $12,323 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 36301, AL
38,447
Population
17,872
Households
2.2
Avg Household Size
40
Median Age
18%
College-Educated
85%
High-School Grad
89.2 sq mi
ZIP Area
431
Density / Sq Mi
$49,124
Median Household Income
$35,333
Median Earnings
$886
Median Rent
$156,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Renovated 996 SF office space with great visibility.
Where is this office units located?
The property is located at 2323 W Main Ste 211 Dothan, AL.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Turnkey, renovated office space ready for immediate occupancy.; High visibility location at the corner of W. Main and Roosevelt.; Functional layout with three private offices, reception, lobby, waiting area, and open meeting/break area.
