315 Magazine StTupelo, MS 38804

Property Details for 315 Magazine St

Year built

1975

Property size (Sq ft)

2,494 SF

Property type

Office properties

Property subtype

Office buildings

APN

089P-31-095-00

APU

089P3109500

Description

This 651-square-foot office space is located in the heart of Historic Downtown Tupelo, Mississippi, at 315 Magazine Street, one block from Main Street. The building, constructed in 1975 and renovated in 2022, offers a Class B office environment within a single-building, 2,748-square-foot complex (APN: 089P-31-095-00). The suite features a reception lobby, a spacious 12' x 16' office or conference room, a kitchen, a break area, and a private restroom. Utilities are included in the rent. The landlord is willing to make improvements for qualified tenants. The property benefits from a combination of public and private parking and is surrounded by city roads, including West Main Street, and enhanced sidewalks. Its prime location places it near financial institutions, legal offices, restaurants, retail businesses, and municipal services. It's also conveniently close to the Fairpark District, a successful urban redevelopment project and entertainment hub. This versatile space is suitable for executive, traditional, or medical office uses. The property is multi-tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $394,379

  6.5%

  $364,042

  7%

  $338,039

• Comparable approach

  Method

  Valuation

  Relative Method

  $181,531

  Geo Method

  $486,480

• Alternative Use

  Use

  Valuation

  Residential

  $451,412

  Hospitality

  $413,491

  Educational

  $344,020

  Medical

  $355,851

  Retail

  $535,142

Location Insight

City

Tupelo

County

Lee

State

Mississippi

Latitude

34.2556

Longitude

-88.7063

CBSA code

46180

CBSA name

TUPELO, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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