Historic Mixed-Use Building with Living
For Sale
$436,000
106 W Main St, Baldwyn, MS 38824
Commercial Sale, Baldwyn, MS
Property Size4,000 SF
Lot Size0.09 Acres
Price / SF$109
Days on Market107
Property Features for 106 W Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Hwy 45 4-Lane, Baldwyn exit/Hwy 370 east to Fourth St. Turn left/North on Fourth st then turn Right onto Main St. 106 West Main will be on your left.
Subdivision
Prentiss County
Standard status
Active
Size
4,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
B 1594 P 1594
Tax Annual Amount
1040
Legal Description
B 1594 P 1594
Amenities
central heat/air
large storefront windows
booths
tables
counter seating
Building Details
Year built
1920
Floors in Building
2
Flooring type
Hardwood, Concrete
Building materials
Brick
Listing Agency:
ELITE REALTY · RE/MAX International
(662) 767-4700
Listed By:
Keith Henley · License #B-22473
(662) 213-5599
Added: May 22
Changed: Sep 5
Last Checked: Sep 5 at 3:06PM
MLS# 26-1938
Copyright © 2026 Northeast Mississippi Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this restored brick mixed-use property offers approximately 4,000 square feet across a restaurant-oriented first floor and finished second-floor living quarters. The commercial area includes large storefront windows, central heat and air, dining space with booths and tables, a sit-down counter, hardwood and concrete flooring, and strong natural light. The upper level provides a three-bedroom, two-bath residence with an open kitchen and living area, along with finished wood floors.
Located on West Main Street in downtown Baldwyn, the property occupies a 0.09-acre lot and retains a historic storefront character. The combination of commercial dining improvements and an existing residential component creates a distinctive mixed-use configuration within the city’s historic downtown setting.
Located on West Main Street in downtown Baldwyn, the property occupies a 0.09-acre lot and retains a historic storefront character. The combination of commercial dining improvements and an existing residential component creates a distinctive mixed-use configuration within the city’s historic downtown setting.
Key Highlights
- Approximately 4,000 square feet on a 0.09‑acre lot
- 1920‑built brick property with restored historic character
- Restaurant‑oriented first floor with booths, tables, counter, and storefront windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,204
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,080
$664.1K
Cap Rate 7%
$474,343
$474.3K
Cap Rate 9%
$368,933
$368.9K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.8K $12.96/SF
− Vacancy
−$4.4K −$1.10/SF
EGI
$47.4K $11.86/SF
− OpEx
−$14.2K −$3.56/SF
NOI
$33.2K $8.30/SF
Area
Lee County, MS
Vacancy
8.50%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,080
Cap Rate 7%
$474,343
Cap Rate 9%
$368,933
Alternative Uses
Best Use
Specialty Retail
$592.7K
$518.6K – $691.5K
NOI $41,490 @ 7.0% cap · market cap 9.52%
Second Best
Retail
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$751.2K
$657.3K – $876.4K
NOI $52,585 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chevron
Shops & Services
3,017 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
1,236 visits/mo
0.1 miles
Demographics for 38824, MS
7,788
Population
3,642
Households
2.1
Avg Household Size
42
Median Age
13%
College-Educated
80%
High-School Grad
146.8 sq mi
ZIP Area
53
Density / Sq Mi
$46,753
Median Household Income
$36,482
Median Earnings
$598
Median Rent
$94,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restored downtown property combines a restaurant setting with finished residential space on the upper floor.
Where is this mixed-use property located?
The property is located at 106 W Main St Baldwyn, MS.
What is the asking price?
The asking price for this property is $436,000.
What are key features of this property?
This property features: Approximately 4,000 square feet on a 0.09‑acre lot; 1920‑built brick property with restored historic character; Restaurant‑oriented first floor with booths, tables, counter, and storefront windows
