Medical Office Building with Exam
For Sale
$795,000
1464 Medical Park Cr, Tupelo, MS 38801
Commercial Sale, Tupelo, MS
Property Size5,456 SF
Lot Size0.90 Acres
Price / SF$145.71
Days on Market538
Property Features for 1464 Medical Park Cr
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Take Eason Boulevard past South Madison to the next right which is Medical Park Circle, The building is in the cul de sac at the end of the street.
Subdivision
Southeast Tupelo
Standard status
Active
Size
5,456 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Description
Parcel in SW1/4 of Medical Center II in Section 6, Township 10 S., Range 6 E.
Tax Annual Amount
16849
Legal Description
Parcel in SW1/4 of Medical Center II in Section 6, Township 10 S., Range 6 E.
Utilities
Heating system
Central, Natural Gas
Amenities
large waiting room
separate kids playroom
breakrooms
corner conference room
laundry room
storage rooms
water fountain
landscaped
street-side sign
Building Details
Year built
2007
Floors in Building
1
Building materials
Brick/Stone
Listing Agency:
COLDWELL BANKER SOUTHERN REAL ESTATE · Coldwell Banker Real Estate
(662) 620-2232
Listed By:
DUKE LODEN · License #B-13789
(662) 620-2214
Added: Mar 5, 2025
Changed: Aug 24
Last Checked: Aug 25 at 3:06AM
MLS# 25-782
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 5,456-square-foot medical office property occupies 0.9 acres and was remodeled in 2007. The building includes a spacious reception area, four exam rooms, four standard offices, two executive offices, an X-ray room with equipment, three additional large rooms, a conference room, storage areas, two breakrooms, laundry facilities, and three restrooms, including two handicap-size restrooms. Several rooms contain sinks and built-in cabinetry. Interior finishes include sheetrock walls, suspended tile ceilings ranging from 8 to 9 feet, vinyl and carpet flooring, and full air conditioning. Brick and stone masonry construction, landscaping, roof gutters, a street-facing sign, and windows on four sides are also present.
The property is located in Tupelo, Mississippi, approximately 1/2 mile from NMMC Hospital. Natural gas and central heating serve the building, which is identified with brick and stone construction.
The property is located in Tupelo, Mississippi, approximately 1/2 mile from NMMC Hospital. Natural gas and central heating serve the building, which is identified with brick and stone construction.
Key Highlights
- 5,456‑square‑foot medical office building on 0.9 acres
- Remodeled in 2007 with four exam rooms and multiple private offices
- X‑ray room with equipment, handwashing sinks, and built‑in cabinets in several rooms
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
$50,980
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
6.41%
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%
$1,019,600
$1.0M
Cap Rate 7%
$728,286
$728.3K
Cap Rate 9%
$566,444
$566.4K
Market Conditions
NOI Build-Up for 5,456 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
$94.9K $17.40/SF
− Vacancy
−$10.0K −$1.83/SF
EGI
$85.0K $15.57/SF
− OpEx
−$34.0K −$6.23/SF
NOI
$51.0K $9.34/SF
Area
Lee County, MS
Vacancy
10.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,019,600
Cap Rate 7%
$728,286
Cap Rate 9%
$566,444
Alternative Uses
Best Use
Healthcare Medical
$728.3K
$637.3K – $849.7K
NOI $50,980 @ 7.0% cap · market cap 6.41%
Second Best
Office B
$683.9K
$598.5K – $797.9K
NOI $47,876 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.02M
$896.6K – $1.20M
NOI $71,726 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 38801, MS
29,795
Population
13,717
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
86%
High-School Grad
73.0 sq mi
ZIP Area
408
Density / Sq Mi
$63,447
Median Household Income
$35,596
Median Earnings
$954
Median Rent
$187,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled medical facility with multiple offices, treatment rooms, support areas, and full air conditioning.
Where is this medical office space located?
The property is located at 1464 Medical Park Cr Tupelo, MS.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 5,456‑square‑foot medical office building on 0.9 acres; Remodeled in 2007 with four exam rooms and multiple private offices; X‑ray room with equipment, handwashing sinks, and built‑in cabinets in several rooms
