3801 Ross Clark CirDothan, AL 36303

This exceptional Class A shopping center, North Circle Plaza, presents a compelling investment opportunity in Dothan, Alabama. Located at 3801 Ross Clark Cir, 36303, this multi-tenant property boasts 82,000 square feet across two single-story buildings on a 7.4-acre lot. Built in 1980 and extensively renovated in 2023, the center features 300 parking spaces and is zoned B-12 Multi Use. Currently, the occupancy is 50%, with an occupancy date of August 1, 2024. The property includes four tenants, including an O'Reilly Auto Parts franchisee, with a multi-tenant lease structure. The Net Operating Income (NOI) is $498,420, resulting in a 5.86% cap rate. The asking price is $8,500,000, translating to $103.66 per square foot. The current lease terms average 15.1 years, with a lease commencement date of June 1, 2024, and expiration on July 1, 2039, leaving a remaining term of 14.6 years. Various rent bumps are included in the lease agreements. This owner-user investment opportunity offers significant upside potential with the addition of new tenants and the strong existing anchor tenant. The property's prime location and recent renovations make it an attractive asset for discerning investors seeking a stable, high-return investment in a thriving market. The property consists of 10 units.