Church & Religious
For Sale
$180,000
1209 Nelle, Tupelo, MS 38801
Commercial Sale, Tupelo, MS
Property Size2,800 SF
Lot Size0.28 Acres
Price / SF$64.29
Days on Market365
Property Features for 1209 Nelle
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
West Main St to Nelle St, property will be on the left. Coordinates: 34.2577, -88.7239
Subdivision
Northwest Tupelo
Standard status
Active
Size
2,800 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
B 0206 P 589
Tax Annual Amount
2682
Legal Description
B 0206 P 589
Building Details
Floors in Building
1
Listing Agency:
Wesley Webb Real Estate
(662) 844-1681
Listed By:
Jerel Baughman · License #S-60854
(662) 871-8274
Added: Sep 9, 2025
Changed: Aug 19
Last Checked: Sep 8 at 4:06AM
MLS# 25-3208
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.
Located at 1209 Nelle in Tupelo, this 2,800-square-foot church and religious facility occupies a 0.28-acre parcel. The property carries mixed-use commercial zoning and is currently leased on a month-to-month basis.
The site is positioned just off West Main St in Tupelo, Mississippi. Its existing lease structure and commercial zoning provide clear, documented characteristics for evaluating the property as a specialty commercial asset.
The site is positioned just off West Main St in Tupelo, Mississippi. Its existing lease structure and commercial zoning provide clear, documented characteristics for evaluating the property as a specialty commercial asset.
Key Highlights
- 2,800‑square‑foot church and religious facility
- 0.28‑acre parcel
- Mixed‑use commercial zoning
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
$15,473
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
8.60%
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%
$309,460
$309.5K
Cap Rate 7%
$221,043
$221.0K
Cap Rate 9%
$171,922
$171.9K
Market Conditions
NOI Build-Up for 2,800 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
$26.9K $9.60/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$24.8K $8.84/SF
− OpEx
−$9.3K −$3.32/SF
NOI
$15.5K $5.53/SF
Area
Lee County, MS
Vacancy
7.90%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
37.50%
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%
$309,460
Cap Rate 7%
$221,043
Cap Rate 9%
$171,922
Alternative Uses
Best Use
Mixed Use
$221.0K
$193.4K – $257.9K
NOI $15,473 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$525.8K
$460.1K – $613.5K
NOI $36,809 @ 7.0% cap · market cap 20.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 38801, MS
29,795
Population
13,717
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
86%
High-School Grad
73.0 sq mi
ZIP Area
408
Density / Sq Mi
$63,447
Median Household Income
$35,596
Median Earnings
$954
Median Rent
$187,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Church & religious facility - The property is leased month to month and carries mixed-use commercial zoning.
Where is this church & religious facility located?
The property is located at 1209 Nelle Tupelo, MS.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 2,800‑square‑foot church and religious facility; 0.28‑acre parcel; Mixed‑use commercial zoning
