1238 Main StTupelo, MS 38801

Property Details for 1238 Main St

Year built

1960

Construction

WOOD

Property size (Sq ft)

2,162 SF

Property type

Retail space

APN

077R-36-003-01

APU

077R3600301

Description

This exceptional commercial property, located at 1238 W Main St., Tupelo, MS, presents a unique investment opportunity. The 2300 square foot building currently features a flexible layout, divided into two distinct sides, but easily adaptable into a single, cohesive space. This allows for a variety of uses, catering to diverse business needs. The property sits on a 0.23-acre lot, providing ample space for potential expansion or outdoor amenities. Two bathrooms are currently under construction, adding to the property's functionality and appeal. A key advantage is its strategic location, boasting high visibility and accessibility. The Mississippi Department of Transportation (MDOT) reports an Annual Daily Traffic (ADT) of 20,000 vehicles at the nearest site (#410540), indicating significant foot and vehicle traffic, ideal for businesses seeking high exposure. This translates to substantial potential for customer reach and business growth. The asking price for this well-positioned commercial building is $325,000. Don't miss this chance to acquire a versatile and strategically located property in a thriving Tupelo market.

• CAP approach

  CAP return

  Valuation

  6%

  $502,559

  6.5%

  $463,900

  7%

  $430,765

• Comparable approach

  Method

  Valuation

  Relative Method

  $396,566

  Geo Method

  $1,062,734

• Alternative Use

  Use

  Valuation

  Residential

  $391,317

  Hospitality

  $358,445

  Educational

  $298,222

  Medical

  $308,478

  Retail

  $463,900

Location Insight

City

Tupelo

County

Lee

State

Mississippi

Latitude

34.2565

Longitude

-88.7274

CBSA code

46180

CBSA name

TUPELO, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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