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    714 Murray Rd Dothan, AL 36303
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    714 Murray Rd, Dothan, AL 36303

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    • Office buildings
    • 8,687 SF
    • 0.85 lot acres
    For Sale
    $600,000
    View Listing →
    Spacious Commercial Office Building For Sale
    $600,000
    8,500 SF

    Spacious Commercial Office Building

    8,500 sq ft office building with modern amenities.

    714 Murray Rd, Dothan, AL
    View Listing
    Property ID
    US03-1265459
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Courtney Love Mortgage Loan Originator / Loan Service / Bank
    • Prime Insurance AL / Insurance Agency
    • Consolidated Electrical Contractors & Engineers, Inc. / Electrical Service / General Contractor

    Property Details for 714 Murray Rd

    Year built
    1985
    Lot size
    0.85 lot acres
    Property type
    Office buildings
    APN
    09-01-01-3-000-005-000
    APU
    901013000005000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 21, 2025 $710,000 Tb Harris Properties LLC Delta Fox Capital 714 LLC Warranty Deed $816k · Hnb First Bank
    Jan 29, 2024 $600,000 Delta Fox Capital 714 LLC Pegrum Creek LLC Warranty Deed $450k · Midsouth Bank NA
    Jan 10, 2022 — Pegrum Creek LLC — Deed · related $582k · Smartbank
    Dec 15, 2021 $685,000 Pegrum Creek LLC Terry L Wallace Warranty Deed $582k · Smartbank

    Description

    This exceptional two-story commercial office building, located at 714 Murray Rd in Dothan, Alabama, presents a unique investment opportunity. Boasting a total of 8,502 square feet on a 0.9-acre lot, this property offers ample space for a variety of business needs. The ground floor encompasses 5,712 square feet and includes a welcoming lobby/reception area, ten individual offices, a dedicated conference room, open cubicles for collaborative workspaces, a fully equipped kitchen, a secure electrical/server room for essential IT infrastructure, and six restrooms for employee and visitor convenience. The second floor adds another 2,700 square feet of usable space, featuring seven additional offices and a large conference room, perfect for meetings and presentations. The building benefits from a highly desirable location, situated just off Ross Clark Circle and in close proximity to Highway 431 North, ensuring excellent accessibility and high visibility. Ample parking is provided with 35 spaces available for employees and clients. Furthermore, the property has undergone recent upgrades, with new HVAC units installed in 2022, ensuring energy efficiency and a comfortable working environment. Priced at $790,000, this property represents a compelling investment in a thriving Dothan commercial market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000
      ML approach
      $600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $826,000
      Market price range: $452k - $1.29M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $815,000
      Current use
      COMMERCIAL (GENERAL)
      $785,000
      Change: -3% Conversion: Easy
      RETAIL STORES
      $670,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.399
    Latitude
    31.2574
    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
    $4,318
    $0.00
    $0.00
    $125,160
    -
    $41,900
    $583,900
    $625,800

    Comparable in this City

    • Value Estimation by Request
      800 SF

      3246 Montgomery Hwy Ste, Unit 202

      OFFICE BUILDING
      3246 Montgomery Hwy Ste, Dothan, AL 36303-2102
      View Details
    • Value Estimation by Request
      800 SF

      3246 Montgomery Hwy Ste, Unit 208

      OFFICE BUILDING
      3246 Montgomery Hwy Ste, Dothan, AL 36303-2103
      View Details
    • Value Estimation by Request
      1,430 SF

      604 Adams St

      OFFICE BUILDING
      604 Adams St, Dothan, AL 36303
      View Details
    • Value Estimation by Request
      1,230 SF

      209 Adams St

      OFFICE BUILDING
      209 Adams St, Dothan, AL 36303
      View Details
    • Value Estimation
      $595,000
      4,115 SF

      Perry Ave

      OFFICE BUILDING
      Perry Ave, Dothan, AL 36303
      View Details
    • Value Estimation by Request
      1,498 SF

      490 Ross Clark Cir

      OFFICE BUILDING
      490 Ross Clark Cir, Dothan, AL 36303-5836
      View Details

    Similar Nearby for Sale

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      0.41 Acres

      Dothan Commercial Property For Sale

      Commercial property in Dothan, AL suitable for various business uses.
      2321 Montgomery Hwy, Dothan, AL 36303
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    • Contact for pricing
      8,500 SF

      Spacious Commercial Office Building

      8,500 sq ft office building with modern amenities.
      714 Murray Rd, Dothan, AL 36303
      View Details
    • $799,900
      1.27 Acres

      Dothan Commercial Property For Sale

      Heated and cooled office and warehouse space with loading dock.
      3665 Westgate Pkwy, Dothan, AL 36303
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      Versatile Office/Warehouse on Westgate Parkway

      6,500 SF building suited for office or office-warehouse use.
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      94,686 SF

      Dothan Commercial Building For Sale

      94,686 sqft building suitable for storage, entertainment, or office warehouse.
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    Similar Nearby for Lease

    • Contact for pricing

      Renovated Office Building on Ross Clark

      Freestanding office building near Southeast Health Medical Center.
      926 Ross Clark Cir, Dothan, AL 36303
      View Details
    • Contact for pricing

      Dothan Shop Building For Lease

      8,600 SF shop building with office space available for lease.
      704 Murray Rd, Dothan, AL 36303
      View Details
    • Contact for pricing
      1,225 SF

      Dothan Office Space Available

      Office space available for lease in Dothan, Alabama.
      188 N Foster St, Dothan, AL 36303
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail spaces available, ranging from 2,273 to 35,000 SqFt.
      3489 Ross Clark Cir, Dothan, AL 36303
      View Details
    • Contact for pricing

      Retail Space Near National Retailers

      Retail space in major corridor near US Route 231.
      900 Commons Dr, Dothan, AL 36303
      View Details
    View Listing
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    Dothan, AL 36303
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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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