1700 Main StTupelo, MS 38804

  • Hospitality properties
  • 4,130 SF
For Sale
$400,000 View listing

Property Details for 1700 Main St

Year built
1950
Lot size
0.58 AC
Property size (Sq ft)
4,130 SF
Property type
Hospitality properties
Property subtype
Motels
APN
088P-33-013-00
APU
088P3301300

Description

This exceptional commercial property, located at 1700 E Main St., Tupelo, MS, presents a unique investment opportunity. Situated just 1.5 miles from Tupelo's vibrant downtown area and conveniently close to the renowned Elvis Presley Birthplace (0.8 miles), this property boasts a prime location with high visibility and accessibility. The existing structure includes nine well-appointed hotel rooms, perfect for a boutique hotel operation, along with a spacious owner's suite offering comfortable living quarters. Ample parking is available on-site, catering to guests and staff alike. The property also features significant land, providing ample room for future expansion and creative development opportunities. This presents a rare chance to acquire a well-established property in a thriving location with potential for significant growth. The asking price is $400,000. A preapproval letter is required for showings. All information is subject to verification. This is an amazing opportunity to own a piece of Tupelo's rich history and vibrant future. The property is classified as General Commercial. The lot size is zero acres. The square footage is not specified.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $763,960
    6.5%
    $705,193
    7%
    $654,822
  • Comparable approach

    Method
    Valuation
    Relative Method
    $706,419
    Geo Method
    $1,893,155
  • Alternative Use

    Use
    Valuation
    Residential
    $769,866
    Hospitality
    $705,193
    Educational
    $586,713
    Medical
    $606,891
    Retail
    $912,664
1700 Main St, Tupelo, Mississippi

Location Insight

City
Tupelo
County
Lee
State
Mississippi
Latitude
34.2572
Longitude
-88.668
CBSA code
46180
CBSA name
TUPELO, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,631
-
-
$19,655
-
$50,000
$81,030
$131,030

FAQs

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