Historic Downtown Retail/Office
For Sale
$225,000
104 W Main St, Baldwyn, MS 38824
COMMERCIAL - Baldwyn, MS
Property Size1,800 SF
Lot Size0.09 Acres
Price / SF$125
Days on Market71
Property Features for 104 W Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Hwy 45 4-Lane to Baldwyn Exit (Hwy 370 east) turn left onto FOURTH St then right onto Main St #104 on Left
Subdivision
Prentiss County
Standard status
Active
Size
1,800 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
Book 2013 Page 1594
Tax Annual Amount
1040
Legal Description
Book 2013 Page 1594
Amenities
central heat/air
ample natural light
large storefront windows
tall interior ceilings
period architectural features
Building Details
Year built
1920
Floors in Building
2
Flooring type
Wood
Building materials
Brick
Listing Agency:
ELITE REALTY · RE/MAX International
(662) 767-4700
Listed By:
Keith Henley · License #B-22473
(662) 767-4700
Added: May 29
Changed: Aug 4
Last Checked: Aug 7 at 7:06AM
MLS# 26-1937
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 restored historic downtown building offers flexible indoor space with central heat/air, ample natural light through large storefront windows, tall interior ceilings, and period architectural features. The property is currently set up as an entertainment venue, and it also supports retail or professional office use based on the existing storefront configuration. A second-floor level provides an unfinished, blank-canvas area for additional commercial space or other projects.
The building is located at 104 W Main St in Baldwyn, Mississippi, in Prentiss County. The listing notes an adjacent property (MLS 26-1938) that may be available as part of a package purchase.
While the space is described as versatile, the key practical takeaway is that the ground level includes prominent storefront windows and interior architectural character, with the upper level offering room to expand or reimagine the layout. Amenities and improvements are available through the listing agent.
The building is located at 104 W Main St in Baldwyn, Mississippi, in Prentiss County. The listing notes an adjacent property (MLS 26-1938) that may be available as part of a package purchase.
While the space is described as versatile, the key practical takeaway is that the ground level includes prominent storefront windows and interior architectural character, with the upper level offering room to expand or reimagine the layout. Amenities and improvements are available through the listing agent.
Key Highlights
- Historic downtown Baldwyn, MS building built in 1920
- Brick construction with wood flooring and period architectural features throughout
- Central heat/air and large storefront windows for ample natural light
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
$15,795
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
7.02%
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%
$315,900
$315.9K
Cap Rate 7%
$225,643
$225.6K
Cap Rate 9%
$175,500
$175.5K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$5.9K −$3.30/SF
EGI
$21.1K $11.70/SF
− OpEx
−$5.3K −$2.93/SF
NOI
$15.8K $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 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%
$315,900
Cap Rate 7%
$225,643
Cap Rate 9%
$175,500
Alternative Uses
Best Use
Office B
$225.6K
$197.4K – $263.3K
NOI $15,795 @ 7.0% cap · market cap 7.02%
Second Best
Retail
$213.5K
$186.8K – $249.0K
NOI $14,942 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$338.0K
$295.8K – $394.4K
NOI $23,663 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38824, MS
7,788
Population
3,642
Households
2.1
Avg Household Size
42
Median Age
13%
College-Educated
80%
High-School Grad
146.8 sq mi
ZIP Area
53
Density / Sq Mi
$46,753
Median Household Income
$36,482
Median Earnings
$598
Median Rent
$94,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Belle's & Bows Flower Shop — 200 E Clayton St, Baldwyn, MS 38824
- Susan's Flowers & Gifts — 103 S 2nd St, Baldwyn, MS 38824
- The Vintage Vine Floral & Gifts, LLC — 111 W Main St, Baldwyn, MS 38824
Frequently Asked Questions
What type of property is this?
Storefront property - Restored storefront building with central heat/air, large display windows, and tall ceilings; second floor is ready for customization.
Where is this storefront property located?
The property is located at 104 W Main St Baldwyn, MS.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Historic downtown Baldwyn, MS building built in 1920; Brick construction with wood flooring and period architectural features throughout; Central heat/air and large storefront windows for ample natural light
