Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land on Hwy-231 S Title is generated by Realmo AI

    S Oates, Dothan, AL 36301

    View on Map
    Claim this Listing
    For Sale
    $545,000

    COMMERCIAL - Dothan, AL

    Lot size:
    1.24 Acres
    Added:
    Apr 19, 2024
    Days on Market:
    772
    Last Refresh:
    May 30 at 7:06 pm

    Property Features for S Oates

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-2
    Standard status
    Active
    APN
    0907363005002014
    Lot size
    1.24 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Waterfront

    We can help!

    Listing Contact
    Kenny Whatley
    Kenny Whatley

    Listing agent Kenny Whatley License #0000582110

    Listing office NAI TALCOR 107 Hidden Glen Way, Dothan, AL

    Listing date Apr 19, 2024

    MLS# 197134 Listing URL

    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.

    HighLights

    • 1.24‑acre lot with 152' frontage on Hwy‑231 S.
    • High traffic location: 31,257 vehicles per day.
    • Prime commercial development opportunity.
    • Located just off Ross Clark Circle.
    • Surrounded by established businesses and retailers.
    • Public water and sewer available.

    Overview

    This 1.24-acre commercial land is located in Dothan, AL, and offers a development opportunity with 152 feet of frontage on Hwy-231 S, just off Ross Clark Circle. The property is situated between Hardees and the entrance to Fieldcrest Apartments. An additional 0.7-acre lot is available behind Misky Peruvian Latin Restaurant. The location is near Southview Shopping Center, Patricia Bowling Lanes, Ollie's, Roses, Clarion Inn & Suites, Hardees, Main Street Family Care, Walmart Supercenter, McDonald's, Dunkin Donuts, and CarMart. The average annual daily traffic (AADT) on Hwy-231 S is 31,257 vehicles per day.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.4017615
    Latitude
    31.1892654

    Nearby Similar for Sale

    • $899,000
      12,000 SF

      Versatile Warehouse Facility in Dothan

      12,000 sq ft warehouse with income potential.
      445 Hostdale, Dothan, AL 36303
      View Details
    • $199,500
      3,000 SF

      Dothan Commercial Corner Lot

      Two buildings on a 0.32-acre lot in Dothan, AL.
      758 W Main St, Dothan, AL 36301
      View Details
    • $745,000
      20,000 SF

      Dothan Commercial Building For Sale

      Over 20,000 SF commercial building in downtown Dothan.
      210 W Washington St, Dothan, AL 36301
      View Details
    • $369,000
      16,850 SF

      Industrial Property with Warehouse/Office Buildings

      Three warehouse/office buildings on 1.07 acres with flexible potential.
      824 S Foster St, Dothan, AL 36301
      View Details
    • $1,100,000
      12,000 SF

      Dothan Commercial Property For Sale

      Commercial property in Dothan, Alabama with tenant and vacancy.
      1768 Industrial Road, Dothan, AL 36303
      View Details
    • $2,598,000
      7,875 SF

      Dothan Commercial Property For Sale

      Highly visible commercial property with potential for various business uses.
      1708 Westgate Parkway, Dothan, AL 36303
      View Details
    • $699,900
      26,850 SF

      Dothan Commercial Property For Sale

      Warehouse, shop, storage, and office space with dual access.
      108 E Southport Street, Dothan, AL 36301
      View Details
    • $1,895,000
      4,500 SF

      Dothan Commercial Building on 4.21 Acres

      Commercial building on 4.21 acres with numerous possibilities.
      1380 E Cottonwood Rd, Dothan, AL 36301
      View Details
    • $799,900

      Dothan Commercial Property For Sale

      Heated and cooled office and warehouse space with loading dock.
      3665 Westgate Parkway, Dothan, AL 36303
      View Details
    • $1,700,000

      Dothan Commercial Property For Sale

      Former Popshelf location near Wiregrass Commons Mall.
      200 Buyers Drive, Dothan, AL 36303
      View Details
    • $975,000
      6,250 SF

      Versatile Commercial Property on Highway

      6,250+ sqft commercial space on high-traffic Hwy 231 S.
      7159 S Hwy 231, Dothan, AL 36301
      View Details
    • $649,000
      7,600 SF

      Dothan Warehouse on Ross Clark

      7,600 SF warehouse with high traffic exposure in Dothan.
      1906 Ross Clark Circle, Dothan, AL 36301
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.24-acre commercial land with highway frontage for sale.
    Where is this commercial land located?
    The property is located at S Oates Dothan, AL.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: 1.24‑acre lot with **152' frontage on Hwy‑231 S.**; **High traffic location:** 31,257 vehicles per day.; **Prime commercial development opportunity.**
    (334) 596-7890
    We can help!
    Listing Contact
    Kenny Whatley
    Kenny Whatley
    Real Estate License ID: 0000582110
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    S Oates, Dothan, AL 36301
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!