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    534 Main St Tupelo, MS 38804

    For Sale
    $555,000

    Historic Rankin House, 4675 sq ft

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional 4675-square-foot commercial property, the historic Rankin House, is ideally situated in downtown Tupelo, Mississippi. Named after US House Representative John E. Rankin, this building offers a unique blend of historical charm and modern functionality. The property boasts a fully equipped commercial kitchen, perfect for a restaurant or catering business. Multiple first-floor rooms provide ample space for various uses, with convenient front, back, and side entrances leading to outdoor areas. Upstairs, living quarters offer additional potential for residential use or expansion of the business. Recent updates ensure the property is move-in ready for its new owner. A large wrap-around deck is ideal for outdoor dining or events, complemented by a spacious back courtyard lawn area. The property's versatility makes it suitable for a combination of businesses, such as a restaurant, apartment, gift shop, or office space. Convenient street-front parking is available for customers and employees. A full basement provides additional storage or development opportunities. All information is subject to verification. This is a rare opportunity to own a piece of Tupelo's history and establish a thriving business in a prime downtown location.

    Property Features for 534 Main St

    General Information

    Property type
    Other commercial real estate
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Law Firm Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tupelo
    County
    Lee
    State
    Mississippi
    Longitude
    -88.71021
    Latitude
    34.25766

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    FAQs

    What type of property is this?
    Commercial real estate - Historic Rankin House, 4675 sq ft
    Where is this commercial real estate located?
    The property is located at 534 Main St Tupelo, MS.
    What is the asking price?
    The asking price for this property is $555,000.
    (662) 842-3844
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    534 Main St Tupelo, MS 38804
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    534 Main St Tupelo, MS 38804
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