1223 Main StTupelo, MS 38801

Property Details for 1223 Main St

Year built

1982

Lot size

0.61 AC

Property size (Sq ft)

5,151 SF

Property type

Office buildings

APN

077R-36-116-00

APU

077R3611600

Description

This 8,191 square foot Class B medical office building, constructed in 1982, is situated on a 0.65-acre lot in Tupelo, Mississippi. The property, zoned MUCC, is currently vacant and offers flexible space options, ranging from approximately 2,040 to 6,151 square feet. The building features a layout suitable for medical practices or retail businesses, including an office suite, two large retail showrooms (51' x 61' and 40' x 76'), and additional second-floor storage accessible via a freight elevator. Twelve parking spaces are conveniently located in front of the building. The property enjoys a prime location on West Main Street, a major retail thoroughfare with an average daily traffic count of 20,000 vehicles. Its strategic position offers excellent visibility and accessibility, with close proximity to downtown Tupelo, Gloster Street, and a variety of established businesses including O'Reilly's, Todd's Big Star Grocery, a new BP fueling station, Main Street Deli and Market, Atmos Gas, and other retail and business offices. The single-tenant building presents a unique opportunity for a business seeking a prominent location in a thriving commercial area. The property's size and layout allow for customization to meet specific tenant needs.

• CAP approach

  CAP return

  Valuation

  6%

  $814,527

  6.5%

  $751,871

  7%

  $698,166

• Comparable approach

  Method

  Valuation

  Relative Method

  $374,931

  Geo Method

  $1,004,754

• Alternative Use

  Use

  Valuation

  Residential

  $932,320

  Hospitality

  $854,000

  Educational

  $710,518

  Medical

  $734,954

  Retail

  $1,105,251

Location Insight

City

Tupelo

County

Lee

State

Mississippi

Latitude

34.2557

Longitude

-88.7268

CBSA code

46180

CBSA name

TUPELO, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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