1478 Veterans Memorial BlvdTupelo, MS 38804

Property Details for 1478 Veterans Memorial Blvd

Year built

1999

Lot size

3.70 AC

Property size (Sq ft)

1,300 SF

Property type

Retail properties

Property subtype

Retail space

APN

088A-28-042-00

APU

088A2804200

Description

This exceptional mixed-use commercial property, located at 1478 N Veterans Memorial Blvd in Tupelo, Mississippi, presents a unique investment opportunity. The 2,500 square foot building sits on a generous 4.1-acre lot, offering significant expansion potential. Built in 1995 and renovated in 2007, the property boasts a 100% occupancy rate and a strong pro-forma NOI of $44,000, translating to a 10.33% cap rate. The asking price is $426,000, or $170.40 per square foot. The single-story building features a 16-foot ceiling height, two loading docks, and one 12'x12' dock-high door, ideal for various industrial uses. The existing space includes a showroom, two restrooms, private offices/storage, and a heated/cooled break area. A substantial covered area of approximately 2,500 square feet on a concrete foundation provides additional space. The property's mixed-use zoning allows for diverse expansion possibilities, including additional warehouse space, apartments, or various service businesses. Its prime location on Veterans Boulevard near downtown Tupelo ensures high visibility and accessibility. The property is owned by an LLC and is currently for sale by owner. This is an owner/user investment opportunity with potential for carwash, equipment servicing, hotel, or mini-storage uses.

Location Insight

City

Tupelo

County

Lee

State

Mississippi

Latitude

34.2788

Longitude

-88.6793

CBSA code

46180

CBSA name

TUPELO, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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