Building Details

Year built 2002

Floors in Building 1

Building materials Brick/Wood

Listing Agency: JASON WARREN AND ASSOCIATES, INC j***@jasonwarrentupelo.com Show Phone

Listed By: Premier Home Team · License #B-21057 Show Phone

Added: Sep 14 Changed: Oct 8 Last Checked: Oct 9 at 1:06PM

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MLS# 26-3459

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.

This storefront property includes an approximately 1,818-square-foot brick-and-wood building constructed in 2002. Electric heat serves the structure, which was most recently operated as an automotive dealership. The property is positioned on 2.3 acres and carries C-2 zoning.

The site fronts Hwy 45 in Saltillo and connects directly with the Hwy 45 bypass. On-site parking and highway exposure support a range of commercial site functions, while the existing building provides a compact footprint for an owner-user or other commercial operation.

Key Highlights

• Approximately 1,818 SF building on 2.3 acres
• C‑2 zoning
• Frontage on Hwy 45 with direct access to the Hwy 45 bypass

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,091

Cap Rate

3.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$301,820 $301.8K

Cap Rate 7%

$215,586 $215.6K

Cap Rate 9%

$167,678 $167.7K

Market Conditions

NOI Build-Up for 1,818 SF

Gross rent

$23.6K $12.96/SF

− Vacancy

−$2.0K −$1.10/SF

EGI

$21.6K $11.86/SF

− OpEx

−$6.5K −$3.56/SF

NOI

$15.1K $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 Rate 5%

$301,820

Cap Rate 7%

$215,586

Cap Rate 9%

$167,678

Alternative Uses

Best Use

Retail

$215.6K

$188.6K – $251.5K (±1% cap)

NOI $15,091 @ 7.0% cap · market cap 3.55%

Second Best

Industrial

$160.6K

$140.6K – $187.4K (±1% cap)

NOI $11,244 @ 7.0% cap · market cap 2.65%

Theoretical Best

Office A

$341.4K

$298.8K – $398.3K (±1% cap)

NOI $23,900 @ 7.0% cap · market cap 5.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Auto Parts Store Building Supply (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Barber Shop Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

39

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 38866, MS

12,556

Population

5,399

Households

2.3

Avg Household Size

40

Median Age

28%

College-Educated

89%

High-School Grad

75.4 sq mi

ZIP Area

167

Density / Sq Mi

$69,971

Median Household Income

$40,926

Median Earnings

$870

Median Rent

$216,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Brick-and-wood commercial building with highway access, on-site parking, and a prior automotive dealership use.

Where is this storefront property located?

The property is located at 1661 Hwy 45 Saltillo, MS.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Approximately 1,818 SF building on 2.3 acres; C‑2 zoning; Frontage on Hwy 45 with direct access to the Hwy 45 bypass