1226 Main StSouthaven, MS 38671

Property Details for 1226 Main St

Year built

1969

Construction

FRAME

Lot size

0.75 AC

Property size (Sq ft)

7,342 SF

Zone code

C-3

Property type

Retail properties

Property subtype

Turn key restaurants

APN

1-08-6-14-00-0-00005-00

APU

1086140000000500

Description

This exceptional restaurant opportunity in Southaven, Mississippi presents a unique chance to acquire a well-established business. Located at 1226 Main St, this 7,342 square foot, single-story building sits on a 1.34-acre lot (APN: 108614000 0000500 / 108614090 0000300) and is zoned C-3. Built in 1969 and renovated in April 2021, the property boasts a great working kitchen layout and equipment, perfect for a restaurant operator. The building's prime location ensures high visibility and traffic, with an average of 22,000 cars passing daily. The asking price is $799,000, translating to $108.83 per square foot. This turnkey operation includes the building, land, furniture, fixtures, and equipment, making it an ideal investment for a retail or restaurant investor looking to capitalize on a thriving Southaven location. The property's history as a destination restaurant for 56 years speaks to its enduring appeal and potential for continued success. This is a rare opportunity to own a well-established business in a high-traffic area with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,555,063

  6.5%

  $1,435,442

  7%

  $1,332,911

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,442,404

  Geo Method

  $1,442,404

• Alternative Use

  Use

  Valuation

  Residential

  $1,210,850

  Hospitality

  $1,109,132

  Educational

  $922,784

  Medical

  $954,520

  Retail

  $1,435,442

Location Insight

City

Southaven

County

Desoto

State

Mississippi

Latitude

34.9923

Longitude

-90.0117

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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