Warehouse Facility with Finished
For Sale
$799,000
445 Hostdale, Dothan, AL 36303
Commercial Sale, Dothan, AL
Property Size12,000 SF
Lot Size0.73 Acres
Price / SF$66.58
Days on Market193
Property Features for 445 Hostdale
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
8 NW-Outside Circle
Standard status
Active
APN
0408330000001031
Lot size
0.73 Acres
Building Details
Year built
2024
Floors in Building
1
Listing Agency:
EXP Realty LLC
(888) 923-5547
Listed By:
Cathy Cole
(334) 701-1592
Added: Feb 19
Changed: Aug 31
Last Checked: Aug 31 at 11:06AM
MLS# 209961
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.
Built in 2024, this 12,000-square-foot warehouse property occupies 0.73 acres and is configured with eight finished units. Each single unit provides approximately 960 square feet, a private office, a bathroom, and a 10x12 roll-up door. The layout includes one double unit, with the configuration able to be divided into two single units by adding a wall.
Five units are leased, comprising four single units and one double unit. A separate 40x108 section remains unfinished with a partially poured slab, creating additional space for future completion. The seller is prepared to finish the remaining area and provide build-to-suit options. Located at 445 Hostdale in Dothan, Alabama, the property supports warehouse, office, storage, and owner-user configurations.
Five units are leased, comprising four single units and one double unit. A separate 40x108 section remains unfinished with a partially poured slab, creating additional space for future completion. The seller is prepared to finish the remaining area and provide build-to-suit options. Located at 445 Hostdale in Dothan, Alabama, the property supports warehouse, office, storage, and owner-user configurations.
Key Highlights
- 12,000‑square‑foot warehouse facility on 0.73 acres
- Eight finished units with flexibility to expand to 12 units
- Each single unit is approximately 960 square feet with a private office and bathroom
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
$68,365
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
8.56%
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%
$1,367,300
$1.4M
Cap Rate 7%
$976,643
$976.6K
Cap Rate 9%
$759,611
$759.6K
Market Conditions
NOI Build-Up for 12,000 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
$119.5K $9.96/SF
− Vacancy
−$14.3K −$1.20/SF
EGI
$105.2K $8.76/SF
− OpEx
−$36.8K −$3.07/SF
NOI
$68.4K $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%
$1,367,300
Cap Rate 7%
$976,643
Cap Rate 9%
$759,611
Alternative Uses
Best Use
Office B
$1.32M
$1.16M – $1.54M
NOI $92,421 @ 7.0% cap · market cap 11.57%
Second Best
Flex RnD
$976.6K
$854.6K – $1.14M
NOI $68,365 @ 7.0% cap · market cap 8.56%
Theoretical Best
Healthcare Medical
$2.12M
$1.86M – $2.47M
NOI $148,470 @ 7.0% cap · market cap 18.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Individual bays include private offices, bathrooms, and roll-up access for business and storage operations.
Where is this warehouse located?
The property is located at 445 Hostdale Dothan, AL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 12,000‑square‑foot warehouse facility on 0.73 acres; Eight finished units with flexibility to expand to 12 units; Each single unit is approximately 960 square feet with a private office and bathroom
