Versatile Office/Warehouse on Westgate
For Sale
$799,900
3665 Westgate Pkwy, Dothan, AL 36303
6,500 SF building suited for office or office-warehouse use.
Property Size6,500 SF
Price / SF$123.06
Days on Market133
Property Features for 3665 Westgate Pkwy
General Information
Standard status
Active
Size
6,500 SF
Class
B
Property subtype
Office
Building Details
Building Size
6,500 SF
Year Built
2000
Listed By:
David R Cornelius, CCIM, CPM · License #AL #000086953-0
(334) 685-1276
Source:
Sperrycga
Added: May 14
Changed: Sep 21
Last Checked: Sep 22 at 2:24PM
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 David R Cornelius, CCIM, CPM
Investment Insights
Based on property information with market context.
Located on Westgate Parkway in Dothan, this 6,500 SF building, constructed in 2000, is perfectly suited for office or office-warehouse use. Zoned L-I, it offers a versatile space that can adapt to a range of business needs. Office and warehouse space are both heated and cooled. The building has a loading dock with a roll-up door and is located on a nice size corner lot. The property is in close proximity to the CSX Platinum site, a key industrial and logistics asset in the region, and offers access to a wide range of commercial amenities and services. The location provides convenience for property owners with its proximity to major business centers, dining establishments, and retail hubs. Prospective office and office-warehouse owners can capitalize on the area's reputation as a business-friendly environment and its connectivity to regional distribution networks. This property presents future owners an ideal setting for commercial success.
Key Highlights
- Prime location on Westgate Parkway in Dothan, offering high visibility and accessibility.
- Versatile 6,500 SF building suitable for office or office‑warehouse use.
- Zoned L‑I, providing flexibility for various business operations.
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
$37,031
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
4.63%
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%
$740,620
$740.6K
Cap Rate 7%
$529,014
$529.0K
Cap Rate 9%
$411,456
$411.5K
Market Conditions
NOI Build-Up for 6,500 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
$64.7K $9.96/SF
− Vacancy
−$7.8K −$1.20/SF
EGI
$57.0K $8.76/SF
− OpEx
−$19.9K −$3.07/SF
NOI
$37.0K $5.70/SF
Area
Houston County, AL
Vacancy
12.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$740,620
Cap Rate 7%
$529,014
Cap Rate 9%
$411,456
Alternative Uses
Best Use
Flex RnD
$529.0K
$462.9K – $617.2K
NOI $37,031 @ 7.0% cap · market cap 4.63%
Second Best
Industrial
$364.7K
$319.1K – $425.4K
NOI $25,526 @ 7.0% cap · market cap 3.19%
Theoretical Best
Healthcare Medical
$1.15M
$1.01M – $1.34M
NOI $80,421 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - 6,500 SF building suited for office or office-warehouse use.
Where is this flex space located?
The property is located at 3665 Westgate Pkwy Dothan, AL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Prime location on Westgate Parkway in Dothan, offering high visibility and accessibility.; Versatile 6,500 SF building suitable for office or office‑warehouse use.; Zoned L‑I, providing flexibility for various business operations.
