372 Road 1438Tupelo, MS 38804

  • Retail properties
  • 4,200 SF
For Sale
$355,000 View listing

Property Details for 372 Road 1438

Year built
2002
Lot size
1.00 AC
Property size (Sq ft)
4,200 SF
Property type
Retail properties
Property subtype
Retail space
APN
086V-24-033-01
APU
086V2403301

Description

This В±7100 square foot warehouse presents a unique investment opportunity in Tupelo, Mississippi. Situated on approximately one acre of land, this unzoned property boasts significant road frontage of roughly 205 feet, offering excellent visibility and accessibility. Located just one mile from the I-22 and Auburn Road interchange, this location provides convenient access to major transportation routes. The warehouse features a drive-in door, an existing office space, and a restroom, showcasing its adaptability to various uses. The property also benefits from installed electrical power boxes and access to a 3-phase power pole. Previous improvements by a tenant included interior renovations planned for a grower facility and office setup, suggesting potential for various commercial or industrial applications. The expansive space could easily accommodate a corporate office and warehouse, an automobile body shop, a private workshop, or even a residential barndominium, depending on future development and permitting. The property's location outside Tupelo city limits offers potential cost savings and flexibility in development plans. This versatile property is priced at $325,000 and presents a compelling opportunity for a wide range of businesses.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,005,480
    6.5%
    $928,136
    7%
    $861,840
  • Comparable approach

    Method
    Valuation
    Relative Method
    $770,348
    Geo Method
    $2,064,515
  • Alternative Use

    Use
    Valuation
    Residential
    $782,917
    Hospitality
    $717,148
    Educational
    $596,659
    Medical
    $617,179
    Retail
    $928,136
372 Road 1438, Tupelo, Mississippi

Location Insight

City
Tupelo
County
Lee
State
Mississippi
Latitude
34.2847
Longitude
-88.6311
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
$1,868
-
-
$17,411
-
$20,000
$96,070
$116,070

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