191 Foster St Dothan, AL 36303

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.