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    Heron Way Dothan, AL 36305

    • Land
    • 4.73 lot acres
    For Sale
    View listing
    $2,884,543
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Heron Way

    Lot size
    4.73 lot acres
    Property type
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.4759
    Latitude
    31.2384

    Comparable in this City

    • Value Estimation by Request
      6.33 Acres

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      2600 Block Hartford Hwy, Dothan, AL 36305
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    • Value Estimation by Request
      1.00 Acre

      5167 Brannon Stand Rd

      Distribution properties • 1.00 Acre
      5167 Brannon Stand Rd, Taylor, AL 36305
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    • Value Estimation by Request
      2.05 Acres

      2.05 Acre Parcel On Honeysuckle Rd

      Land • 2.05 Acres
      0 2.05 Acre Parcel On Honeysuckle Rd, Dothan, AL 36305
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    • Value Estimation by Request
      1.16 Acres

      Main St

      Land • 1.16 Acres
      0 Main St, Dothan, AL 36305
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    • Value Estimation by Request
      3.10 Acres

      Honeysuckle Rd

      Retail properties • 3.10 Acres
      0 Honeysuckle Rd, Dothan, AL 36305
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    • Value Estimation by Request
      5.90 Acres

      3200 Hartford Hwy

      Land • 5.90 Acres
      3200 Hartford Hwy, Dothan, AL 36305
      View Details

    Similar Nearby for Sale

    • $2,884,543
      4.73 Acres

      Dothan, AL Commercial Land Investment

      4.73 Acres, Prime Commercial Location
      0 Heron Way, Dothan, AL 36305
      View Details
    • $429,000
      2.05 Acres

      Honeysuckle Rd Commercial Land Parcel

      2.05-acre commercial lot, prime Dothan location.
      0 2.05 Acre Parcel On Honeysuckle Rd, Dothan, AL 36305
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    • $160,000
      2.11 Acres

      Dothan Land: 2.11 Acres

      Prime Dothan acreage, ideal for development.
      0 Honeysuckle Rd, Dothan, AL 36305
      View Details
    • Contact for pricing
      6 SF

      Hartford Highway Land Opportunity

      Two adjacent parcels totaling 6.3 acres on Hartford Highway.
      2600 Block Hartford Hwy, Dothan, AL 36305
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    • $380,000
      19.00 Acres

      Dothan, AL Residential Land

      19+/- acre parcel suitable for residential or commercial use.
      00 Brannon Stand Rd, Dothan, AL 36305
      View Details
    • $160,000
      2.11 Acres

      Commercial Land on Honeysuckle Road

      2.11 acres of commercial land for sale.
      Honeysuckle Rd, Dothan, AL 36305
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space in High-Traffic Area

      Retail spaces available in Dothan's main retail hub.
      3850 W Main St, Dothan, AL 36305
      View Details
    • $9 SF/Yr
      10,400 SF

      Dothan, AL Warehouse Space

      Modern 10,400 SF Warehouse, Excellent Location
      321 Nypro Ln, Dothan, AL 36305
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    Heron Way
    Dothan, AL 36305
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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