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 properties

Property subtype

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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