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Building Details

Year built 1984

Floors in Building 2

Listing Agency: Lan Darty Real Estate & Development s***@landarty.com Show Phone

Listed By: Sandra Houston Show Phone

Added: Jul 25, 2024 Changed: Oct 1 Last Checked: Oct 15 at 3:06PM

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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 996 SF office unit occupies the second floor of an office complex built in 1984. The renovated layout includes three private offices, a reception area, lobby, customer waiting space, and an open area suited to meetings or breaks. Two bathrooms and an office refrigerator are also included.

The suite is positioned at the corner of W. Main and Roosevelt in Dothan, providing access through two separate staircases along with an available elevator. The configuration combines enclosed work areas with shared client-facing and collaboration spaces.

Key Highlights

• 996 SF second‑floor office unit
• Renovated layout with three private offices
• Reception area, lobby, and customer waiting space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,671

Cap Rate

5.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$153,420 $153.4K

Cap Rate 7%

$109,586 $109.6K

Cap Rate 9%

$85,233 $85.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 996 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $12,323 @ 7.0% cap · market cap 9.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Big Box & Wholesale Store Storage Facility Parking Lot & Garage Electrical Service Auto Repair Shop Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Second-floor suite with private offices, reception space, meeting area, and elevator access.

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: 996 SF second‑floor office unit; Renovated layout with three private offices; Reception area, lobby, and customer waiting space