Retail Shopping Center with Highway
For Sale
Contact for pricing
3255 S Oates St, Dothan, AL 36301
Shopping center anchored by TitleMax, positioned on U.S. Highway 231 with ample parking and multiple national retail and service tenants.
Property Size16,800 SF
Lot Size1.72 Acres
Price / SF$148.81
Days on Market248
Property Features for 3255 S Oates St
General Information
Standard status
Active
Size
16,800 SF
Lot size
1.72 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Skyline Seven
(678) 916-4149
Listed By:
Elliott Kyle · License #299687
(404) 812-8927
Source:
Moodyscre
Added: Jan 8
Changed: Sep 13
Last Checked: Sep 13 at 6:22AM
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 Skyline Seven
Investment Insights
Based on property information with market context.
Dothan Square is a retail shopping center at 3255 S Oates St in Dothan, Alabama, featuring a tenant mix that includes TitleMax. The property also lists Firehouse Subs, Direct General Insurance, Advance America, Smoke R Us, Fabulous Nail, and SPD Wireless (Cricket), with two vacancies noted. The site is situated on a 1.72-acre lot and provides ample parking.
The property is prominently located on U.S. Highway 231, a major north–south corridor, with direct access to local residents and regional traffic. The center is described as being across from a Walmart Supercenter, and the remarks cite strong daily visitation to support the surrounding retail trade area.
The property is offered for sale as a long-term commercial asset in a growing Alabama market, with additional development and demand referenced in the public remarks.
The property is prominently located on U.S. Highway 231, a major north–south corridor, with direct access to local residents and regional traffic. The center is described as being across from a Walmart Supercenter, and the remarks cite strong daily visitation to support the surrounding retail trade area.
The property is offered for sale as a long-term commercial asset in a growing Alabama market, with additional development and demand referenced in the public remarks.
Key Highlights
- Shopping center at 3255 S Oates Street on U.S. Highway 231 with ample parking on a 1.72‑acre lot
- Anchored by TitleMax with additional national retail and service tenants, including Firehouse Subs, Advance America, and Direct General Insurance
- Tenant mix includes Smoke R Us, Fabulous Nail, and SPD Wireless (Cricket), with 2 vacancies offering potential upside
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
$117,107
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
4.68%
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%
$2,342,140
$2.3M
Cap Rate 7%
$1,672,957
$1.7M
Cap Rate 9%
$1,301,189
$1.3M
Market Conditions
NOI Build-Up for 16,800 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
$185.5K $11.04/SF
− Vacancy
−$18.2K −$1.08/SF
EGI
$167.3K $9.96/SF
− OpEx
−$50.2K −$2.99/SF
NOI
$117.1K $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%
$2,342,140
Cap Rate 7%
$1,672,957
Cap Rate 9%
$1,301,189
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $117,107 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.97M
$2.60M – $3.46M
NOI $207,858 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
240k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 41%
Dining 29%
Shops & Services 27%
Electronics 2%
Walmart
Superstores
98,034 visits/mo
0.3 miles
Murphy USA
Shops & Services
29,741 visits/mo
0.2 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
19,033 visits/mo
0.0 miles
Dollar Tree
Shops & Services
17,323 visits/mo
0.2 miles
SONIC Drive In
Dining
16,656 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center anchored by TitleMax, positioned on U.S. Highway 231 with ample parking and multiple national retail and service tenants.
Where is this shopping center located?
The property is located at 3255 S Oates St Dothan, AL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Shopping center at 3255 S Oates Street on U.S. Highway 231 with ample parking on a 1.72‑acre lot; Anchored by TitleMax with additional national retail and service tenants, including Firehouse Subs, Advance America, and Direct General Insurance; Tenant mix includes Smoke R Us, Fabulous Nail, and SPD Wireless (Cricket), with 2 vacancies offering potential upside
