Others have correctly addressed the barrel issue. I'm not a fan of dot sights, but a low powered scope could be an asset. A fixed power 2X, 2.5X or 3X would be the least expensive and lightest. I'm a big fan of 1-4X20's for that sort of thing. Not because I can go up to 4X, but because I can use it on 1X which is no magnification at all. They are very fast, faster than dots or irons, up close and are a huge asset in poor light.
But there isn't a good way to mount optics on an 870. They are my preferred pump shotgun, but if I had to have optics I'd look around for something else drilled and tapped for mounts. Mossberg 500 comes to mind. You could buy one of those for about the same cost as just buying another barrel for what you have. Or just use the 870 with iron sights. I'm good for 4" groups with mine at 100 yards with the factory irons. I won't be shooting slugs any farther.