Commercial Land with Existing
For Sale
$499,000
3546 Reeves Street, Dothan, AL 36303
COMMERCIAL - Dothan, AL
Property Size3,730 SF
Lot Size2.02 Acres
Price / SF$133.78
Days on Market274
Property Features for 3546 Reeves Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
2 NE-Outside Circle
Standard status
Active
APN
10-03-06-2-001-003.000
Lot size
2.02 Acres
Building Details
Year built
1964
Floors in Building
1
Listing Agency:
Lan Darty Real Estate & Development
(334) 699-2300
Listed By:
Casey Tillery
(334) 714-7841
Added: Nov 30, 2025
Changed: Aug 17
Last Checked: Aug 31 at 8:06AM
MLS# 206054
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 2.02-acre commercial land parcel includes two existing improvements: a 2,788-square-foot home with multiple rooms and an inground pool, plus a 942-square-foot historic retail building. The retail structure has its own road entrance and five dedicated parking spaces.
The property fronts Reeves Street near Hwy 431 N in Dothan, with more than 400 feet of road frontage and reported traffic exceeding 22,000 cars per day. B-2 zoning supports a range of retail, office, and service uses. The existing buildings, frontage, access, and commercial zoning provide a defined physical framework for continued use or redevelopment.
The property fronts Reeves Street near Hwy 431 N in Dothan, with more than 400 feet of road frontage and reported traffic exceeding 22,000 cars per day. B-2 zoning supports a range of retail, office, and service uses. The existing buildings, frontage, access, and commercial zoning provide a defined physical framework for continued use or redevelopment.
Key Highlights
- 2.02‑acre commercial land parcel with existing improvements
- More than 400 feet of road frontage on Reeves Street near Hwy 431 N
- Reported traffic exceeds 22,000 cars/day
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
$26,001
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
5.21%
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%
$520,020
$520.0K
Cap Rate 7%
$371,443
$371.4K
Cap Rate 9%
$288,900
$288.9K
Market Conditions
NOI Build-Up for 3,730 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
$41.2K $11.04/SF
− Vacancy
−$4.0K −$1.08/SF
EGI
$37.1K $9.96/SF
− OpEx
−$11.1K −$2.99/SF
NOI
$26.0K $6.97/SF
Area
Houston County, AL
Vacancy
9.80%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$520,020
Cap Rate 7%
$371,443
Cap Rate 9%
$288,900
Alternative Uses
Best Use
Retail
$371.4K
$325.0K – $433.4K
NOI $26,001 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$659.3K
$576.9K – $769.2K
NOI $46,149 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
RaceTrac
Shops & Services
29,902 visits/mo
0.1 miles
Jack's Family Restaurants
Dining
12,898 visits/mo
0.1 miles
Taco Bell
Dining
5,758 visits/mo
0.2 miles
Raceway
Shops & Services
4,908 visits/mo
0.1 miles
Demographics for 36303, AL
31,080
Population
14,622
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
528
Density / Sq Mi
$53,006
Median Household Income
$34,504
Median Earnings
$855
Median Rent
$175,600
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial land - B-2 zoning supports retail, office, and service uses across a developed commercial site.
Where is this commercial land located?
The property is located at 3546 Reeves Street Dothan, AL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2.02‑acre commercial land parcel with existing improvements; More than 400 feet of road frontage on Reeves Street near Hwy 431 N; Reported traffic exceeds 22,000 cars/day
