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    Property profile & analytics

    1230 Westgate Pkwy Dothan, AL 36303-2182

    • Investment properties
    • 10,506 SF
    • 0.94 lot acres
    OFF-MARKET
    Value Estimations
    $1,550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1255009
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mike Miller - COUNTRY Financial Agent / Insurance Agency
    • Brightway Insurance, The Rachel Davidson Agency / Insurance Agency
    • PrimeLending / Loan Service / Bank
    • Cobra Cards / (Bike/Boat/Book/etc) Store
    • Wiregrass Living Magazine / Publishing House

    Property Details for 1230 Westgate Pkwy

    Year built
    1998
    Lot size
    0.94 lot acres
    Property size
    10,506 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    09-02-09-1-008-001-005
    APU
    902091008001005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,467,000
      Market price range: $323k - $1.62M
      AI Estimate
      $1,635,000
      Market price range: $323k - $1.66M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $950,000
      Current use
      MEDICAL BUILDING
      $1,855,000
      Change: +95% Conversion: Easy
      OFFICE BUILDING
      $985,000
      Change: +4% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.4349
    Latitude
    31.253
    CBSA code
    20020
    CBSA name
    DOTHAN, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,142
    $0.00
    $0.00
    $149,040
    -
    $261,500
    $483,700
    $745,200

    Comparable in this City

    • Value Estimation
      $1,370,000
      8,778 SF

      560 Westgate Pkwy

      OFFICE/RESIDENTIAL (MIXED USE) • 8,778 SF
      560 Westgate Pkwy, Dothan, AL 36303-3075
      View Details
    • Value Estimation
      $595,000
      3,825 SF

      1368 Westgate Pkwy

      OFFICE/RESIDENTIAL (MIXED USE) • 3,825 SF
      1368 Westgate Pkwy, Dothan, AL 36303-2152
      View Details
    • Value Estimation by Request
      3,420 SF

      218 Powell St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,420 SF
      218 Powell St, Dothan, AL 36303
      View Details
    • Value Estimation by Request
      1,672 SF

      1307 Reeves St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,672 SF
      1307 Reeves St, Dothan, AL 36303-3455
      View Details
    • Value Estimation by Request
      1,859 SF

      3111 Ross Clark Cir

      OFFICE/RESIDENTIAL (MIXED USE) • 1,859 SF
      3111 Ross Clark Cir, Dothan, AL 36303-3037
      View Details
    • Value Estimation by Request
      3,612 SF

      655 Headland Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,612 SF
      655 Headland Ave, Dothan, AL 36303-3438
      View Details

    Similar Nearby for Sale

    • $199,900
      5,000 SF

      Versatile Mixed-Use Property in Dothan

      Adaptable mixed-use property with residence, commercial space, or live-work potential.
      104 Herring St, Dothan, AL 36303
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    • $550,000
      2,788 SF

      Dothan Commercial Property on Hwy 431

      Over 2 acres with retail building and residential home.
      3546 Reeves St, Dothan, AL 36303
      View Details
    • New
      $259,900
      Pending

      Downtown Dothan Mixed-Use Building

      Two-story commercial building in downtown Dothan, move-in ready.
      127 Foster St, Dothan, AL 36303
      View Details
    • $2,300,000
      2.06 Acres

      West Dothan Commercial Investment Opportunity

      Dual-lot commercial site in West Dothan with high traffic exposure.
      203-205 Apple Ave, Dothan, AL 36303
      View Details
    • $36,000

      Residential Land in Saint Regis

      Residential lots in gated Saint Regis Subdivision with clubhouse.
      378 Grand Hbr Cir, Dothan, AL 36303
      View Details
    • $36,000

      Residential Land in Saint Regis

      Residential lots in gated Saint Regis Subdivision with clubhouse.
      391 Grand Hbr Cir, Dothan, AL 36303
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      1,100 SF

      Dothan Retail Space for Lease

      High-traffic retail space available now.
      5031 Montgomery Hwy | Dothan, AL 36303, Dothan, AL 36303
      View Details
    • Contact for pricing
      6,700 SF

      Freestanding Restaurant with Pick-Up Window

      Turn-key restaurant space built in 2019 with convenient access.
      1708 Westgate Pkwy, Dothan, AL 36303
      View Details
    • $15 SF/Yr
      1,225 SF

      Dothan Office Space Available

      Office space available for lease in Dothan, Alabama.
      188 N Foster St, Dothan, AL 36303
      View Details
    • $4 SF/Yr
      20,000 SF

      Versatile Warehouse/Manufacturing Space Available

      20,000 SF warehouse/manufacturing space with loading dock and drive-in door.
      300 Plant St, Dothan, AL 36303
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in High-Traffic Center

      Retail space available in Dothan's central retail corridor.
      3500 Ross Clark Cir, Dothan, AL 36303
      View Details
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    1230 Westgate Pkwy
    Dothan, AL 36303-2182
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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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