Mixed-Use
For Sale
$175,000
511 S Green St, Tupelo, MS 38804
Commercial Sale, Tupelo, MS
Property Size1,268 SF
Lot Size1.29 Acres
Price / SF$138.01
Days on Market150
Property Features for 511 S Green St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Main St. in Tupelo to S. Green St. corner of Chestnut and S. Green St.
Subdivision
Southeast Tupelo
Standard status
Active
Size
1,268 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Description
Inst# 2025011291
Tax Annual Amount
1405
Legal Description
Inst# 2025011291
Building Details
Floors in Building
1
Listing Agency:
COLDWELL BANKER SOUTHERN REAL ESTATE · Coldwell Banker Real Estate
(662) 620-2232
Listed By:
Brenda Estes Blair Finley · License #B-23487
(662) 620-2214
Added: Apr 15
Changed: Aug 19
Last Checked: Sep 11 at 10:06AM
MLS# 26-1327
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 mixed-use property encompasses 1,268 square feet on a 1.2913-acre parcel in Tupelo’s Historic Mill Village. The site is designated Mixed-Use Residential, with applicable uses identified in the listing documentation.
The property is located at 511 S Green St in Tupelo, Mississippi, within Lee County. It is being offered as part of a package deal that references MLS# 26-1502.
The property is located at 511 S Green St in Tupelo, Mississippi, within Lee County. It is being offered as part of a package deal that references MLS# 26-1502.
Key Highlights
- 1.2913‑acre parcel in Tupelo’s Historic Mill Village
- 1,268 square feet of property size
- Mixed‑Use Residential 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
$10,526
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
6.01%
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%
$210,520
$210.5K
Cap Rate 7%
$150,371
$150.4K
Cap Rate 9%
$116,956
$117.0K
Market Conditions
NOI Build-Up for 1,268 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
$16.4K $12.96/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$15.0K $11.86/SF
− OpEx
−$4.5K −$3.56/SF
NOI
$10.5K $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%
$210,520
Cap Rate 7%
$150,371
Cap Rate 9%
$116,956
Alternative Uses
Best Use
Retail
$150.4K
$131.6K – $175.4K
NOI $10,526 @ 7.0% cap · market cap 6.01%
Second Best
Mixed Use
$100.1K
$87.6K – $116.8K
NOI $7,007 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$238.1K
$208.4K – $277.8K
NOI $16,669 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 38804, MS
17,314
Population
7,978
Households
2.2
Avg Household Size
40
Median Age
30%
College-Educated
87%
High-School Grad
78.5 sq mi
ZIP Area
221
Density / Sq Mi
$63,837
Median Household Income
$37,416
Median Earnings
$858
Median Rent
$201,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Mixed-Use Residential zoning places this property within Tupelo’s Historic Mill Village.
Where is this mixed-use property located?
The property is located at 511 S Green St Tupelo, MS.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1.2913‑acre parcel in Tupelo’s Historic Mill Village; 1,268 square feet of property size; Mixed‑Use Residential zoning
