Dothan Restaurant Site For
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3421 Ross Clark Cir, Dothan, AL
Restaurant site on Ross Clark Circle, Dothan, Alabama.
Property Size5,256 SF
Lot Size1.89 Acres
Price / SF$371
Days on Market277
Property Features for 3421 Ross Clark Cir
General Information
Standard status
Active
Size
5,256 SF
Lot size
1.89 Acres
Property subtype
RETAIL
Listing Agency:
Forrest & Fields CRE
(334) 685-1276
Listed By:
David R Cornelius · License #000086953
(334) 685-1276
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Jul 6
Last Checked: Aug 29 at 4:30PM
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 Forrest & Fields CRE
Investment Insights
Based on property information with market context.
This property is a restaurant site located on Ross Clark Circle (State Route 210) in Dothan, Alabama. The location is considered a prime commercial area. Ross Clark Circle serves as a beltway around the city, accommodating both local and long-distance traffic. The site benefits from its proximity to U.S. Highways 84, 231, and 431, all of which converge with the circle. The average annual daily traffic count exceeds 31,591 vehicles per day.
The restaurant building, offering approximately 5,296 square feet of space on a 1.88-acre lot, was initially constructed in 1997 as Ruby Tuesday's largest prototype. In 2018, a Fazoli’s franchisee acquired the property and carried out extensive renovations and improvements. The restaurant features a drive-thru, a large parking lot, and convenient access. Some equipment will not remain.
The restaurant building, offering approximately 5,296 square feet of space on a 1.88-acre lot, was initially constructed in 1997 as Ruby Tuesday's largest prototype. In 2018, a Fazoli’s franchisee acquired the property and carried out extensive renovations and improvements. The restaurant features a drive-thru, a large parking lot, and convenient access. Some equipment will not remain.
Key Highlights
- Located in Dothan's best commercial trade area on Ross Clark Circle (State Route 210) with high traffic volume.
- Features a convenient drive‑thru and large parking lot.
- Extensively renovated restaurant in 2018.
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
$54,991
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
2.82%
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%
$1,099,820
$1.1M
Cap Rate 7%
$785,586
$785.6K
Cap Rate 9%
$611,011
$611.0K
Market Conditions
NOI Build-Up for 5,256 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
$78.8K $15.00/SF
− Vacancy
−$5.5K −$1.05/SF
EGI
$73.3K $13.95/SF
− OpEx
−$18.3K −$3.49/SF
NOI
$55.0K $10.46/SF
Area
Houston County, AL
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,099,820
Cap Rate 7%
$785,586
Cap Rate 9%
$611,011
Alternative Uses
Best Use
Specialty Retail
$785.6K
$687.4K – $916.5K
NOI $54,991 @ 7.0% cap · market cap 2.82%
Second Best
Retail
$523.4K
$458.0K – $610.6K
NOI $36,638 @ 7.0% cap · market cap 1.88%
Theoretical Best
Healthcare Medical
$929.0K
$812.9K – $1.08M
NOI $65,030 @ 7.0% cap · market cap 3.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
737k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 28%
Shops & Services 28%
Superstores 19%
Apparel 12%
Sam's Club
Superstores
107,191 visits/mo
0.2 miles
T.J. Maxx
Apparel
64,650 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
56,174 visits/mo
0.3 miles
Chick-fil-A
Dining
47,421 visits/mo
0.1 miles
Publix
Groceries
37,366 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Restaurant site on Ross Clark Circle, Dothan, Alabama.
Where is this drive through restaurant located?
The property is located at 3421 Ross Clark Cir Dothan, AL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Located in Dothan's best commercial trade area on Ross Clark Circle (State Route 210) with high traffic volume.; Features a convenient drive‑thru and large parking lot.; Extensively renovated restaurant in 2018.
