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Shopping Strip

The Shops at South Oates

3341 S Oates St, Dothan, AL 36301

Listing Price: $4,735,000

Cap Rate
7.75%
Gross SF
33,900
Rentable SF
33,900
Price/Gross SF
$139.68
Lot Size
6.56 acres
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire The Shops at South Oates, a 33,900-square-foot, multi-tenant retail center located in Dothan, Alabama. The Shops at South Oates is currently 100 percent occupied, and all leases are triple-net. Anchored by a top-performing Dollar Tree and CSL Plasma locations, tenants are a complementary mix of internet-resistant and service-oriented tenants including T-Mobile, WSI Learning Center, Dothan Nail Spa, Panda Restaurant, and Sunshine Health. Additional income is derived from the double-sided billboard that faces South Oates Street and a donation bin located in the subject property's parking lot. Constructed in 2008, the building is situated on a large 6.56-acre lot with ample paved parking.

The Shops at South Oates is strategically located on South Oates Street. Traffic counts in front of the property exceed 27,700 vehicles per day. The subject property is shadow-anchored by a top-performing Walmart Supercenter, ranking in the 74th percentile based on annual visitors to all Walmart Supercenter stores in the state of Alabama. The Shops at South Oates is less than three miles south the dense retail trade area on Ross Clark Circle, also known as "The Circle," a route overlaid by US-84, US-231, and US-431 encircling Dothan.

Investment Highlights

  • Shadow-Anchored by a High-Traffic Walmart Supercenter Location | Approximately 255.5K Annual Visitors
  • Fully Stabilized Asset | 100% Occupied | All Leases are Triple-Net | Tenants are a Complementary Mix of National and Local Retailers
  • Anchored by Dollar Tree and CSL Plasma | Both Tenants at this Location Rank in the 97th Percentile and 92nd Percentile, Respectively, in the State Based on Consumer Traffic (Source: Placer.ai)
  • Traffic Counts in Front of the Property Exceed 27,700 Vehicles per Day
  • Priced at $140 Per Square Foot | Well Below Replacement Cost

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Shopping Strip

The Shops at South Oates

Listing Price: $4,735,000

Cap Rate
7.75%
Gross SF
33,900
Rentable SF
33,900
Price/Gross SF
$139.68
Lot Size
6.56 acres
Year Built
2008

Investment Highlights

  • Shadow-Anchored by a High-Traffic Walmart Supercenter Location | Approximately 255.5K Annual Visitors
  • Fully Stabilized Asset | 100% Occupied | All Leases are Triple-Net | Tenants are a Complementary Mix of National and Local Retailers
  • Anchored by Dollar Tree and CSL Plasma | Both Tenants at this Location Rank in the 97th Percentile and 92nd Percentile, Respectively, in the State Based on Consumer Traffic (Source: Placer.ai)
  • Traffic Counts in Front of the Property Exceed 27,700 Vehicles per Day
  • Priced at $140 Per Square Foot | Well Below Replacement Cost

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire The Shops at South Oates, a 33,900-square-foot, multi-tenant retail center located in Dothan, Alabama. The Shops at South Oates is currently 100 percent occupied, and all leases are triple-net. Anchored by a top-performing Dollar Tree and CSL Plasma locations, tenants are a complementary mix of internet-resistant and service-oriented tenants including T-Mobile, WSI Learning Center, Dothan Nail Spa, Panda Restaurant, and Sunshine Health. Additional income is derived from the double-sided billboard that faces South Oates Street and a donation bin located in the subject property's parking lot. Constructed in 2008, the building is situated on a large 6.56-acre lot with ample paved parking. The Shops at South Oates is strategically located on South Oates Street. Traffic counts in front of the property exceed 27,700 vehicles per day. The subject property is shadow-anchored by a top-performing Walmart Supercenter, ranking in the 74th percentile based on annual visitors to all Walmart Supercenter stores in the state of Alabama. The Shops at South Oates is less than three miles south the dense retail trade area on Ross Clark Circle, also known as "The Circle," a route overlaid by US-84, US-231, and US-431 encircling Dothan.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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