1950 Reeves St Dothan, AL 36303

This 67,600 square foot retail center in Dothan, Alabama presents a compelling value-add opportunity. Located on US 431, near Ross Clark Circle, the property boasts excellent visibility and accessibility. Built in 1968 and renovated in 2022, the Class C shopping center/storefront complex comprises three single-story buildings on a 7.04-acre lot with 272 paved parking spaces. Currently 86% occupied with 31 units under a Net Net lease structure, the property offers 67,600 square feet of heated and cooled space, ideal for conversion into a climate-controlled mini-storage facility. The existing layout allows for expansion to 77,300 square feet of heated and cooled space, and there's potential to add another 60,000 square feet of climate-controlled storage. Numerous spaces are suitable for dry storage. The property is zoned B-2 Highway Commercial and features a fee simple ownership. The asking price is $3,380,000 ($50/sq ft). High daytime workforce in the area.