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    1345 Palmetto Road Tupelo, MS 38801

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    Claim this Listing
    For Sale
    $389,900

    COMMERCIAL - Tupelo, MS

    Property size:
    4,500 SF
    Lot size:
    0.78 Acres
    Price / SF:
    $86/SF
    Added:
    Jan 15, 2026
    Days on Market:
    103
    Last Refresh:
    Apr 28 at 1:06 pm

    Property Features for 1345 Palmetto Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Standard status
    Active
    APN
    107d-25-062-00
    Size
    4,500 SF
    Lot size
    0.78 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT PT NW1/4 NE1/4 SD 7000 VERONA ORIGINAL SURVE BK 1859 PG 54107/01/1999
    Tax Annual Amount
    5498

    Building Details

    Year built
    1970
    Floors in Building
    1

    We can help!

    Listing Contact
    Clint Bolton
    Clint Bolton

    Listing agent Clint Bolton License #B-18917

    Listing office RE/MAX Realty Group 1576 Monteith Ave. Suite C, Hernando, MS

    Listing date Jan 15, 2026

    MLS# 4136357

    Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Tupelo Automotive Business Opportunity

    This commercial property in Tupelo, MS, presents a business opportunity for those in the automotive industry. The sale includes real estate consisting of two buildings: a shop, a warehouse, and an office. The property also features an air compressor, tire machine, balancer, two four-post lifts, one two-post lift, one blast machine, one stone machine, one lathe, one press, and three testers, along with other tools and a substantial inventory of starters, alternators, and a drill press. The property is a fully operational automotive repair business, though the business name is not included in the sale. The property has a size of 4500 square feet and is situated on a 0.78-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Krosh Automotive & Re-builders ... Auto Repair Shop Jerry's Rebuilders Auto Parts Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Krosh Automotive & Re-builders Alternators & Starters — 1345 Palmetto Rd, Tupelo, MS 38801
    • Wheel City — 4990 N Raymond Ave, Tupelo, MS 38801
    • Verona Auto Repair — 5182 Raymond Ave, Tupelo, MS 38801
    • Barber Wrecker Service — 4910 Raymond Ave, Tupelo, MS 38801

    Location Insight

    • Map
    • Local Demand
    City
    Tupelo
    County
    Lee
    State
    Mississippi
    Longitude
    -88.725728
    Latitude
    34.191474

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    FAQs

    What type of property is this?
    Auto shop - Fully operational automotive repair business with equipment and inventory included.
    Where is this auto shop located?
    The property is located at 1345 Palmetto Road Tupelo, MS.
    What is the asking price?
    The asking price for this property is $389,900.
    What are key features of this property?
    This property features: Fully operational automotive repair business with real estate included (shop, warehouse, and office).; Extensive inventory of starters, alternators, and drill press included.; Includes a comprehensive set of equipment: air compressor, tire machine, balancer, multiple lifts, blast machine, stone machine, lathe, press, and testers.
    (662) 934-9376
    We can help!
    Listing Contact
    Clint Bolton
    Clint Bolton
    Real Estate License ID: B-18917
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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