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    191 Foster St Dothan, AL 36303

    Sponsored
    For Sale
    Contact for pricing

    Historic building, multiple income streams

    Property size:
    28,789 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Colby Building, a stunning 28,789 square foot mixed-use property in Dothan, Alabama, presents a unique investment opportunity. This two-story, historically significant building, originally constructed in 1937 and extensively renovated in 2020, boasts a prime location in the heart of Downtown Dothan's revitalization project. Currently housing Bella's Fine Dining & Wine Bar, Bella's Ballroom & Event Venue with a bridal suite, and 22 offices, the building is 96% occupied with 24 tenants under a modified lease with corporate guarantees. A soon-to-be-developed rooftop bar will add another significant revenue stream. The building features a newly installed roof and offers a fully furnished and equipped interior. The 0.32-acre lot is zoned CBD, providing flexibility for future uses. This Class B property offers multiple income streams, benefiting from the ongoing multi-million dollar downtown redevelopment, including a new Civic Center, Opera House enhancements, hotel and mixed-use developments, a new Wiregrass Arts & Innovation Center, and enhanced greenspace. The Colby Building is an exceptional opportunity to own a piece of Dothan's vibrant future. The property is fee simple ownership and includes one key.

    Property Features for 191 Foster St

    General Information

    Property type
    Individual retail properties
    Square Feet
    28,789 SF
    Class
    B
    Lot Size
    13,939 SF

    Building Details

    Year Built/Renovated
    1937/2020
    Buildings
    1
    Stories
    2

    HighLights

    • Multiple income streams from diverse tenants.
    • Historic Downtown Dothan location.
    • Prime location within a multi‑million dollar downtown revitalization project.
    • Two‑story building with mezzanine, featuring a new roof and a soon‑to‑be‑developed rooftop bar.
    • Upper level houses 22 offices plus a private suite.
    • Fully furnished and equipped.
    Property Profile Location Intelligence

    Current Use by Public Records

    1-800 Office Solutions Copier Repair Service Bella's Ballroom Event Venue Foster Florist & Flower ... Flower Delivery

    Suggested Use

    Restaurant Realty agency Dental Office Building Supply Law Firm Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.3924526
    Latitude
    31.2250397

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    FAQs

    What type of property is this?
    Individual retail property - Historic building, multiple income streams
    Where is this individual retail property located?
    The property is located at 191 Foster St Dothan, AL.
    What are key features of this property?
    This property features: Multiple income streams from diverse tenants.; Historic Downtown Dothan location.; Prime location within a multi-million dollar downtown revitalization project.
    Request Owner's contact information
    191 Foster St Dothan, AL 36303
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    191 Foster St Dothan, AL 36303
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