191 Foster St Dothan, AL 36303

Property Details for 191 Foster St

Year built

1989

Lot size

0.39 lot acres

Property size

26,522 SF

Property type

Investment properties

Property subtype

Live-work space

APN

09-06-24-2-102-003-000

APU

906242102003000

Description

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.

Location Insight

City

Dothan

County

Houston

State

Alabama

Longitude

-85.3927

Latitude

31.225

CBSA code

20020

CBSA name

DOTHAN, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments