534 Main StTupelo, MS 38804

Property Details for 534 Main St

Year built

1900

Lot size

0.30 AC

Property size (Sq ft)

2,712 SF

Property type

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.

• 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

FAQs

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