Renovated Retail Space with
For Sale
$699,900
794 E Main, Tupelo, MS 38804
Commercial Sale, Tupelo, MS
Property Size5,800 SF
Lot Size0.48 Acres
Price / SF$120.67
Days on Market229
Property Features for 794 E Main
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From downtown, head E on Main St, property on Right.
Subdivision
Northeast Tupelo
Standard status
Active
Size
5,800 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
Bk 2022 Page 012685
Tax Annual Amount
15016
Legal Description
Bk 2022 Page 012685
Amenities
retail showing
lobby
multiple offices
storage room/warehouse
4 restrooms
full kitchen/laundry
Building Details
Year built
2000
Floors in Building
1
Listing Agency:
TM REALTORS
(662) 842-3844
Listed By:
Kevin Knight · License #S48856
(662) 401-2913
Added: Jan 19
Changed: Aug 19
Last Checked: Sep 5 at 8:06PM
MLS# 26-242
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 5,800-square-foot retail property provides a broad commercial layout within a 2000-built structure. The interior includes a customer-facing showroom, lobby, multiple offices, a storage and warehouse area, four restrooms, a full kitchen, and laundry facilities. The building has also been configured with furnishings, display fixtures, security equipment, and safes, allowing those improvements to remain in place for a future operator.
Positioned at 794 E Main in East Tupelo, the property occupies 0.4821 acres. Its combination of retail presentation areas, administrative rooms, storage capacity, and support facilities accommodates a range of storefront-oriented commercial operations. The premises were most recently operated as a licensed dispensary from 2022 through the current period.
Positioned at 794 E Main in East Tupelo, the property occupies 0.4821 acres. Its combination of retail presentation areas, administrative rooms, storage capacity, and support facilities accommodates a range of storefront-oriented commercial operations. The premises were most recently operated as a licensed dispensary from 2022 through the current period.
Key Highlights
- 5,800 square feet of retail property on 0.4821 acres
- Showroom, lobby, multiple offices, storage and warehouse area
- Four restrooms plus full kitchen and laundry facilities
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
$48,145
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
6.88%
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%
$962,900
$962.9K
Cap Rate 7%
$687,786
$687.8K
Cap Rate 9%
$534,944
$534.9K
Market Conditions
NOI Build-Up for 5,800 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
$75.2K $12.96/SF
− Vacancy
−$6.4K −$1.10/SF
EGI
$68.8K $11.86/SF
− OpEx
−$20.6K −$3.56/SF
NOI
$48.1K $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 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%
$962,900
Cap Rate 7%
$687,786
Cap Rate 9%
$534,944
Alternative Uses
Best Use
Retail
$687.8K
$601.8K – $802.4K
NOI $48,145 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$953.1K – $1.27M
NOI $76,248 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 13%
Hotels & Casinos 3%
Dollar Tree
Shops & Services
13,257 visits/mo
0.4 miles
Dollar General
Shops & Services
9,316 visits/mo
0.5 miles
SUBWAY
Dining
4,824 visits/mo
0.1 miles
Renasant Bank
Shops & Services
4,821 visits/mo
0.3 miles
Shell
Shops & Services
3,698 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Flexible commercial layout combines customer-facing retail areas with offices, storage, restrooms, and back-of-house support space.
Where is this retail space located?
The property is located at 794 E Main Tupelo, MS.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 5,800 square feet of retail property on 0.4821 acres; Showroom, lobby, multiple offices, storage and warehouse area; Four restrooms plus full kitchen and laundry facilities
