668 S Oates St Dothan, AL 36303

Property Details for 668 S Oates St

Lot size

0.44 lot acres

Property size

3,468 SF

Property type

Retail properties

APN

09-06-24-3-006-023-000

APU

906243006023000

Description

This exceptional investment opportunity presents a 3,468 square foot, single-story industrial/retail building situated on a 0.44-acre lot in Dothan, Alabama. The property, located at 668 S Oates St, boasts a prime location, just half a mile from E. Main Street and two miles from Ross Clark Circle, placing it within easy reach of the city's burgeoning downtown revitalization. Currently operating at 100% occupancy under a Net Lease (NN+) agreement with a single tenant, Brian's Tire & Auto, the lease extends until November 5th, 2026, providing a secure, long-term income stream. The building, constructed in 1980, features a blend of warehouse and retail space, including 1,269 square feet of climate-controlled office/retail space, two garages with four roll-up doors, four offices with a lobby area, and two restrooms. Ample parking is provided with approximately 15 spaces. The property is zoned DTE and offers a compelling 9.09% cap rate based on a Net Operating Income (NOI) of $30,000 and an asking price of $330,000. This translates to a price per square foot of $95.16. The tenant has no credit rating. The property's strategic location benefits from proximity to significant ongoing city center developments, including a new amphitheater, opera house enhancements, a Wiregrass Arts & Innovation center, a new hotel/mixed-use development, and new green spaces. This presents a strong potential for future appreciation. This is a rare opportunity to acquire a high-yield, well-located commercial property with a stable tenant and significant upside potential.