372 Road 1438Tupelo, MS 38804

Property Details for 372 Road 1438

Year built

2002

Lot size

1.00 AC

Property size (Sq ft)

4,200 SF

Property type

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.

• 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

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

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