Prime Location Storage
For Sale
$3,380,000
1924 1950 & 1970 Reeves Street, Dothan, AL 36303
67,600 SF storage facility with expansion potential.
Property Size67,600 SF
Price / SF$50
Days on Market281
Property Features for 1924 1950 & 1970 Reeves Street
General Information
Standard status
Active
Size
67,600 SF
Property subtype
Retail
Building Details
Building Size
67,600 SF
Listing Agency:
NAI TALCOR
(334) 596-7890
Listed By:
Kenny Whatley · License #AL #000058211-0
(334) 596-7890
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 26
Last Checked: Aug 29 at 7:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI TALCOR
Investment Insights
Based on property information with market context.
This property, suitable for mini storage, features 67,600 square feet of heated and cooled space, with the potential for conversion to a climate-controlled facility. Current buildings can be expanded to a total of 77,300 square feet of heated and cooled space. The layout allows for an additional 60,000 square feet of climate-controlled storage. Numerous spaces are available for dry storage. Situated on 7 acres, most of which is paved, the property offers level, paved parking with adequate space for additional storage. It benefits from a prominent location on U.S. 431, a short distance from Ross Clark Circle, providing excellent visibility and easy access. The area has a high daytime workforce.
Key Highlights
- 67,600 sq ft of heated and cooled space, perfect for climate‑controlled storage conversion.
- Potential expansion to 77,300 sq ft of heated and cooled space.
- Layout available for an additional 60,000 sq ft of climate‑controlled storage.
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
$265,465
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
7.85%
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%
$5,309,300
$5.3M
Cap Rate 7%
$3,792,357
$3.8M
Cap Rate 9%
$2,949,611
$2.9M
Market Conditions
NOI Build-Up for 67,600 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
$405.6K $6.00/SF
− Vacancy
−$26.4K −$0.39/SF
EGI
$379.2K $5.61/SF
− OpEx
−$113.8K −$1.68/SF
NOI
$265.5K $3.93/SF
Area
Houston County, AL
Vacancy
6.50%
Lease Rate
$6.00 /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%
$5,309,300
Cap Rate 7%
$3,792,357
Cap Rate 9%
$2,949,611
Alternative Uses
Best Use
Self Storage
$8.21M
$7.18M – $9.58M
NOI $574,654 @ 7.0% cap · market cap 17.00%
Second Best
Industrial
$3.79M
$3.32M – $4.42M
NOI $265,465 @ 7.0% cap · market cap 7.85%
Theoretical Best
Healthcare Medical
$11.95M
$10.45M – $13.94M
NOI $836,380 @ 7.0% cap · market cap 24.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - 67,600 SF storage facility with expansion potential.
Where is this self storage facility located?
The property is located at 1924 1950 & 1970 Reeves Street Dothan, AL.
What is the asking price?
The asking price for this property is $3,380,000.
What are key features of this property?
This property features: 67,600 sq ft of heated and cooled space, perfect for climate‑controlled storage conversion.; Potential expansion to 77,300 sq ft of heated and cooled space.; Layout available for an additional 60,000 sq ft of climate‑controlled storage.
