Mixed-Use Building with Retail and
151 W Main St Dothan, AL 36301
151 W Main St, Dothan, AL, 36301
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For Sale
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Newly redeveloped building with six ground-floor retail suites and seven second-floor residential units.
Property Size20,400 SF
Price / SF$142.16
Days on Market388
Property Features for 151 W Main St
General Information
- Standard status
- Active
- Size
- 20,400 SF
- Property subtype
- Mixed Use, Retail
Listing agency
NAI TALCOR
(334) 596-7890
Listed by
Shannon Auty · License #AL 139611
Source
Crexi
Added: Jul 1, 2025 Updated: Jul 22 at 8:25AM Checked: Jul 22 at 8:25AM
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.
La Strada is a newly redeveloped 20,400 SF mixed-use building featuring seven second-floor residential units and six ground-floor commercial suites. The residential component consists of luxury units with modern layouts, while the retail component is made up of six separate suites, with one unit currently leased and the remaining space actively marketed.
The property is located on W. Main Street in downtown Dothan. City Center developments are underway approximately 150 feet from the building, including a newly completed Opera House addition, the Wiregrass Arts & Innovation Center, and Porter Park green space and amphitheater in progress; an Entertainment Arena and hotel projects are also planned.
For expansion-minded buyers, an adjacent 12,105 SF three-story building is also available. La Strada is offered as a mixed-use asset with an existing rent structure supporting projected stabilized performance at full occupancy, based on the current rent roll described in the remarks.
The property is located on W. Main Street in downtown Dothan. City Center developments are underway approximately 150 feet from the building, including a newly completed Opera House addition, the Wiregrass Arts & Innovation Center, and Porter Park green space and amphitheater in progress; an Entertainment Arena and hotel projects are also planned.
For expansion-minded buyers, an adjacent 12,105 SF three-story building is also available. La Strada is offered as a mixed-use asset with an existing rent structure supporting projected stabilized performance at full occupancy, based on the current rent roll described in the remarks.
Key Highlights
- Newly redeveloped 20,400 SF mixed‑use building on W. Main Street in downtown Dothan
- 7 second‑floor luxury residential units with advertised rents of $1,600–$2,200/month
- 6 ground‑floor commercial retail suites offered at $24–$25/SF/yr plus CAM fees; one unit currently leased
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $330.5k | $16.20 |
| − Vacancy | −$39.7k | −$1.94 |
| EGI | $290.8k | $14.26 |
| − OpEx | −$109.1k | −$5.35 |
| NOI | $181.8k | $8.91 |
20,400 SF · lease $16.20/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.60M
$2.27M – $3.03M
NOI $181,764 @ 7.0% cap · market cap 6.27%
Second Best
Retail
$2.03M
$1.78M – $2.37M
NOI $142,201 @ 7.0% cap · market cap 4.90%
Theoretical Best
Healthcare Medical
$3.61M
$3.15M – $4.21M
NOI $252,399 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kirk D. Jones, ...
Physician
Andrew L. Maxwell, ...
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John D. Denney, ...
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David W. Badham, ...
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FAQs
What type of property is this?
Mixed-use property - Newly redeveloped building with six ground-floor retail suites and seven second-floor residential units.
Where is this mixed-use property located?
The property is located at 151 W Main St Dothan, AL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Newly redeveloped 20,400 SF mixed‑use building on W. Main Street in downtown Dothan; 7 second‑floor luxury residential units with advertised rents of $1,600–$2,200/month; 6 ground‑floor commercial retail suites offered at $24–$25/SF/yr plus CAM fees; one unit currently leased
