Flex Space With Warehouse
For Sale
$425,000
520 Pegram Dr, Tupelo, MS 38801
Commercial Sale, Tupelo, MS
Property Size4,000 SF
Lot Size0.60 Acres
Price / SF$106.25
Days on Market101
Property Features for 520 Pegram Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From W Main St turn onto S Green St. Turn right onto Pegram Dr. Building will be on the corner of Pegram and S Madison.
Subdivision
Southeast Tupelo
Standard status
Active
Size
4,000 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Description
Instrument #: 2018001471
Tax Annual Amount
4450
Legal Description
Instrument #: 2018001471
Building Details
Year built
1965
Floors in Building
1
Listing Agency:
JASON WARREN AND ASSOCIATES, INC
(662) 842-2710
Listed By:
Premier Home Team · License #B-21057
(662) 678-3033
Added: Jul 1
Changed: Oct 8
Last Checked: Oct 9 at 1:06PM
MLS# 26-2385
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 flex-space property at 520 Pegram Dr. provides approximately 4,000 square feet within a functional commercial layout. The interior includes a waiting room, reception area, three private offices, two bathrooms, and a large warehouse component. The configuration supports medical, professional, office, service-based, storage, and light industrial uses identified for the property.
The site contains 0.6015 acres and includes on-site parking for clients and employees. Built in 1965, the property is located in Tupelo's Medical District and carries a 38801 postal designation.
The site contains 0.6015 acres and includes on-site parking for clients and employees. Built in 1965, the property is located in Tupelo's Medical District and carries a 38801 postal designation.
Key Highlights
- Approximately 4,000 square feet of commercial space
- Three dedicated private offices and two bathrooms
- Warehouse area included within the building layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,100
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,000
$702.0K
Cap Rate 7%
$501,429
$501.4K
Cap Rate 9%
$390,000
$390.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$60.0K $15.00/SF
− Vacancy
−$13.2K −$3.30/SF
EGI
$46.8K $11.70/SF
− OpEx
−$11.7K −$2.93/SF
NOI
$35.1K $8.78/SF
Area
Lee County, MS
Vacancy
22.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,000
Cap Rate 7%
$501,429
Cap Rate 9%
$390,000
Alternative Uses
Best Use
Office B
$501.4K
$438.8K – $585.0K
NOI $35,100 @ 7.0% cap · market cap 8.26%
Second Best
Flex RnD
$450.1K
$393.8K – $525.1K
NOI $31,506 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$751.2K
$657.3K – $876.4K
NOI $52,585 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Polar Bear ICE — 966 S Gloster St, Tupelo, MS 38801
- Jay Cater — 813 Varsity Dr, Tupelo, MS 38801
Frequently Asked Questions
What type of property is this?
Flex space - The property combines reception space, private offices, restrooms, and a sizable warehouse area for adaptable business operations.
Where is this flex space located?
The property is located at 520 Pegram Dr Tupelo, 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 4,000 square feet of commercial space; Three dedicated private offices and two bathrooms; Warehouse area included within the building layout
