The Shops at South Oates

Price: $4,735,000
Sq. Ft.: 33,900
Cap Rate: 7.85%
Built: 2008

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.

  • 33,900-Square-Foot, Multi-Tenant Retail Center
  • Shadow-Anchored by a High-Traffic Walmart Supercenter Location | Approximately 255.5K Annual Visitors and Ranked in the Top 74th Percentile Statewide as Compared to Other Walmart Stores, Based on Consumer Traffic (Source:
  • 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 of Alabama Based on Consumer Traffic (Source:  Placer Labs)
  • Additional Lease Income Provided From Double-Sided Billboard and Parking Lot Donation Box
  • Traffic Counts in Front of the Property Exceed 27,700 Vehicles per Day
  • Less Than Three Miles From Retail Trade Area Known As Ross Clark Circle or  “The Circle”, Which Encircles the City of Dothan, Alabama
  • Average Household Income is Approximately $71,334 and Population is 102,178 Residents within a 10-Mile Radius
  • Dothan is the County Seat of Houston County | Eighth-Largest City in Alabama | 20 Miles West of Georgia and 16 Miles East of Florida
  • Priced at $140 Per Square Foot | Well Below Replacement Cost