Building Details

Year built 1920

Floors in Building 2

Flooring type Concrete, Hardwood

Building materials Brick

Buildings 1

Listing Agency: ELITE REALTY · RE/MAX International k***@henleyproperties.com

Listed By: Keith Henley · License #B-22473 Show Phone

Added: May 22 Changed: Oct 28 Last Checked: Nov 6 at 10:06AM

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MLS# 26-1938

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.

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Investment Insights

Based on property information with market context.

Built in 1920, this restored brick mixed-use property offers approximately 4,000 square feet across a restaurant-oriented first floor and finished second-floor living quarters. The commercial area includes large storefront windows, central heat and air, dining space with booths and tables, a sit-down counter, hardwood and concrete flooring, and strong natural light. The upper level provides a three-bedroom, two-bath residence with an open kitchen and living area, along with finished wood floors.

Located on West Main Street in downtown Baldwyn, the property occupies a 0.09-acre lot and retains a historic storefront character. The combination of commercial dining improvements and an existing residential component creates a distinctive mixed-use configuration within the city’s historic downtown setting.

Key Highlights

• Approximately 4,000 square feet on a 0.09‑acre lot
• 1920‑built brick property with restored historic character
• Restaurant‑oriented first floor with booths, tables, counter, and storefront windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,204

Cap Rate

7.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$664,080 $664.1K

Cap Rate 7%

$474,343 $474.3K

Cap Rate 9%

$368,933 $368.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$51.8K $12.96/SF

− Vacancy

−$4.4K −$1.10/SF

EGI

$47.4K $11.86/SF

− OpEx

−$14.2K −$3.56/SF

NOI

$33.2K $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 Rate 5%

$664,080

Cap Rate 7%

$474,343

Cap Rate 9%

$368,933

Alternative Uses

Best Use

Specialty Retail

$592.7K

$518.6K – $691.5K (±1% cap)

NOI $41,490 @ 7.0% cap · market cap 9.52%

Second Best

Retail

$474.3K

$415.1K – $553.4K (±1% cap)

NOI $33,204 @ 7.0% cap · market cap 7.62%

Theoretical Best

Office A

$751.2K

$657.3K – $876.4K (±1% cap)

NOI $52,585 @ 7.0% cap · market cap 12.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Building Supply Law Firm Big Box & Wholesale Store Dental Office Electrical Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

190

Businesses Nearby

4k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Chevron Shops & Services

3,017 visits/mo 0.1 miles

Napa Auto Parts Shops & Services

1,236 visits/mo 0.1 miles

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Restored downtown property combines a restaurant setting with finished residential space on the upper floor.

Where is this mixed-use property located?

The property is located at 106 W Main St Baldwyn, MS.

What is the asking price?

The asking price for this property is $436,000.

What are key features of this property?

This property features: Approximately 4,000 square feet on a 0.09‑acre lot; 1920‑built brick property with restored historic character; Restaurant‑oriented first floor with booths, tables, counter, and storefront windows