534 Main StTupelo, MS 38804
- Office properties
- 2,712 SF
Property Details for 534 Main St
- Year built
- 1900
- Lot size
- 0.30 AC
- Property size (Sq ft)
- 2,712 SF
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 089K-31-288-01
- APU
- 089K3128801
Description
This exceptional 4675-square-foot commercial property, the historic Rankin House, is ideally situated in downtown Tupelo, Mississippi. Named after US House Representative John E. Rankin, this building offers a unique blend of historical charm and modern functionality. The property boasts a fully equipped commercial kitchen, perfect for a restaurant or catering business. Multiple first-floor rooms provide ample space for various uses, with convenient front, back, and side entrances leading to outdoor areas. Upstairs, living quarters offer additional potential for residential use or expansion of the business. Recent updates ensure the property is move-in ready for its new owner. A large wrap-around deck is ideal for outdoor dining or events, complemented by a spacious back courtyard lawn area. The property's versatility makes it suitable for a combination of businesses, such as a restaurant, apartment, gift shop, or office space. Convenient street-front parking is available for customers and employees. A full basement provides additional storage or development opportunities. All information is subject to verification. This is a rare opportunity to own a piece of Tupelo's history and establish a thriving business in a prime downtown location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $428,851
- 6.5%
- $395,862
- 7%
- $367,586
-
Comparable approach
- Method
- Valuation
- Relative Method
- $197,399
- Geo Method
- $529,003
-
Alternative Use
- Use
- Valuation
- Residential
- $490,869
- Hospitality
- $449,634
- Educational
- $374,090
- Medical
- $386,955
- Retail
- $581,918
Location Insight
- City
- Tupelo
- County
- Lee
- State
- Mississippi
- Latitude
- 34.2577
- Longitude
- -88.7102
- CBSA code
- 46180
- CBSA name
- TUPELO, MS MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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