Former Restaurant
For Sale
$350,000
203 Commerce St, Tupelo, MS 38804
The space occupies a downtown Tupelo location beside Cadence Arena and near Fairpark.
Property Size2,022 SF
Price / SF$173.10
Days on Market31
Property Features for 203 Commerce St
General Information
Standard status
Active
Size
2,022 SF
Property subtype
Commercial
Listing Agency:
TM REALTORS
Listed By:
Kevin Knight · License #S48856
(662) 401-2913
Source:
Propertiesnorthms
Added: Sep 22
Changed: Oct 19
Last Checked: Oct 20 at 9:47PM
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 TM REALTORS
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Investment Insights
Based on property information with market context.
This 2,022-square-foot property in Tupelo was previously used as a restaurant. It is located at 203 Commerce St, next to Cadence Arena and one block off Main St near Fairpark.
Key Highlights
- 2,022‑square‑foot former restaurant space
- Located next to Cadence Arena
- One block off Main St near Fairpark
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,973
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,460
$419.5K
Cap Rate 7%
$299,614
$299.6K
Cap Rate 9%
$233,033
$233.0K
Market Conditions
NOI Build-Up for 2,022 SF
Gross rent
$30.3K $15.00/SF
− Vacancy
−$2.4K −$1.17/SF
EGI
$28.0K $13.83/SF
− OpEx
−$7.0K −$3.46/SF
NOI
$21.0K $10.37/SF
Area
Lee County, MS
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,460
Cap Rate 7%
$299,614
Cap Rate 9%
$233,033
Alternative Uses
Best Use
Specialty Retail
$299.6K
$262.2K – $349.6K
NOI $20,973 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.7K
$332.3K – $443.0K
NOI $26,582 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,055
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 38804, MS
17,314
Population
7,978
Households
2.2
Avg Household Size
40
Median Age
30%
College-Educated
87%
High-School Grad
78.5 sq mi
ZIP Area
221
Density / Sq Mi
$63,837
Median Household Income
$37,416
Median Earnings
$858
Median Rent
$201,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The space occupies a downtown Tupelo location beside Cadence Arena and near Fairpark.
Where is this conventional restaurant located?
The property is located at 203 Commerce St Tupelo, MS.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,022‑square‑foot former restaurant space; Located next to Cadence Arena; One block off Main St near Fairpark
