Remodeled Retail
For Sale
$275,000
1906 Main St., Tupelo, MS 38801
Existing salon buildout includes service stations and dedicated support rooms.
Property Size1,989 SF
Price / SF$138.26
Days on Market12
Property Features for 1906 Main St.
General Information
Standard status
Active
Size
1,989 SF
Property subtype
General Commercial
Amenities
1/2 bath
7 workstations
nail tech room
4 wash sinks
storage room
kitchenette
laundry room
100x138
Building Details
Year Built
1930
Listing Agency:
Crye-Leike Realtors
(662) 321-1674
Listed By:
Shirley Curry · License #S-28348
(662) 321-1674
Source:
Xome
Added: Aug 13
Changed: Aug 24
Last Checked: Aug 24 at 3:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crye-Leike Realtors
Investment Insights
Based on property information with market context.
Built in 1930, the retail property currently features a remodeled hair salon layout. The interior includes 7 workstations, 4 wash sinks, a nail tech room, and a 1/2 bath. Additional support areas include a storage room, kitchenette, and laundry room.
The offering includes 2 lots with the existing retail building. Its current configuration combines dedicated salon service areas with practical storage, food-preparation, and laundry spaces.
The offering includes 2 lots with the existing retail building. Its current configuration combines dedicated salon service areas with practical storage, food-preparation, and laundry spaces.
Key Highlights
- Remodeled hair salon interior
- 7 workstations and 4 wash sinks
- Dedicated nail tech room and 1/2 bath
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
$16,510
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
6.00%
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%
$330,200
$330.2K
Cap Rate 7%
$235,857
$235.9K
Cap Rate 9%
$183,444
$183.4K
Market Conditions
NOI Build-Up for 1,989 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
$25.8K $12.96/SF
− Vacancy
−$2.2K −$1.10/SF
EGI
$23.6K $11.86/SF
− OpEx
−$7.1K −$3.56/SF
NOI
$16.5K $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 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%
$330,200
Cap Rate 7%
$235,857
Cap Rate 9%
$183,444
Alternative Uses
Best Use
Retail
$235.9K
$206.4K – $275.2K
NOI $16,510 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.5K
$326.9K – $435.8K
NOI $26,148 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Existing salon buildout includes service stations and dedicated support rooms.
Where is this retail space located?
The property is located at 1906 Main St. Tupelo, MS.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Remodeled hair salon interior; 7 workstations and 4 wash sinks; Dedicated nail tech room and 1/2 bath
