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    Property profile & analytics

    Westgate Pkwy Dothan, AL 36303

    • Investment properties
    • 56,514 SF
    OFF-MARKET
    Value Estimations
    $6,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2091109
    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

    • Investment properties

    Property Details for Westgate Pkwy

    Year built
    1980
    Property size
    56,514 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    09-05-15-3-004-005-008-C
    APU
    0905153004005008C

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,453,000
      Market price range: $1.74M - $8.69M
      AI Estimate
      $7,188,000
      Market price range: $1.74M - $8.93M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,115,000
      Current use
      MEDICAL BUILDING
      $9,975,000
      Change: +95% Conversion: Easy
      OFFICE BUILDING
      $5,295,000
      Change: +4% Conversion: Easy
      RETAIL STORES
      $4,345,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dothan
    County
    Houston
    State
    Alabama
    Longitude
    -85.4077
    Latitude
    31.2525
    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
    $22,606
    $0.00
    $0.00
    $655,260
    -
    $0.00
    $3,276,300
    $3,276,300

    Comparable in this City

    • Value Estimation
      $650,000
      6,185 SF

      2497 Montgomery Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 6,185 SF
      2497 Montgomery Hwy, Dothan, AL 36303-2651
      View Details
    • Value Estimation by Request
      1,972 SF

      671 Range St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,972 SF
      671 Range St, Dothan, AL 36303-4718
      View Details
    • Value Estimation by Request
      1,140 SF

      1314 Westgate Pkwy Ste, Unit 5

      OFFICE/RESIDENTIAL (MIXED USE) • 1,140 SF
      1314 Westgate Pkwy Ste, Dothan, AL 36303-2154
      View Details
    • Value Estimation by Request
      5,826 SF

      1027 Blackshear St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,826 SF
      1027 Blackshear St, Dothan, AL 36303
      View Details
    • Value Estimation by Request
      920 SF

      836 Burdeshaw St

      OFFICE/RESIDENTIAL (MIXED USE) • 920 SF
      836 Burdeshaw St, Dothan, AL 36303-4912
      View Details
    • Value Estimation by Request
      11,667 SF

      1501 Columbia Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 11,667 SF
      1501 Columbia Hwy, Dothan, AL 36303-5413
      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.
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    • $550,000
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      Dothan Commercial Property on Hwy 431

      Over 2 acres with retail building and residential home.
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    • $429,000
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      Prime Commercial Land on Highway

      One-acre commercial land parcel with high traffic visibility.
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    • $36,000

      Residential Land in Saint Regis

      Residential lots in gated Saint Regis Subdivision with clubhouse.
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      Residential Land in Dothan, AL

      Residential land available in a desirable Dothan location.
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    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

      Prime Retail Space Near Mall

      High-visibility retail space with customizable layout and ample parking.
      200 Buyers Dr, Dothan, AL 36303
      View Details
    • 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

      Retail Space Next to ALDI

      Retail space available in Dothan's retail hub.
      1571 Westgate Pkwy, 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
    • Contact for pricing
      33,000 SF

      Retail Space in Dothan Corridor

      Retail space available in a busy Dothan shopping center.
      2841 Montgomery Hwy, Dothan, AL 36303
      View Details
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    Westgate Pkwy
    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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