Mixed-Use Property with Large
For Sale
$175,000
511 S Green St, Tupelo, MS 38804
COMMERCIAL - Tupelo, MS
Property Size1,268 SF
Lot Size1.29 Acres
Price / SF$138.01
Days on Market115
Property Features for 511 S Green St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Main St. in Tupelo to S. Green St. corner of Chestnut and S. Green St.
Subdivision
Southeast Tupelo
Standard status
Active
Size
1,268 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Description
Inst# 2025011291
Tax Annual Amount
1405
Legal Description
Inst# 2025011291
Building Details
Floors in Building
1
Listing Agency:
COLDWELL BANKER SOUTHERN REAL ESTATE · Coldwell Banker Real Estate
(662) 620-2232
Listed By:
Brenda Estes Blair Finley · License #B-23487
(662) 620-2214
Added: Apr 15
Changed: Aug 4
Last Checked: Aug 7 at 8:06AM
MLS# 26-1327
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.
Located at 511 S Green St in Tupelo’s Historic Mill Village, this mixed-use property includes a 1,268-square-foot structure on 1.2913 acres. The site is zoned Mixed-Use Residential, and the applicable uses are identified in the listing documents.
The property is offered as part of a package deal that also references MLS# 26-1502. Its address is in Lee County, within the 38804 postal area.
The property is offered as part of a package deal that also references MLS# 26-1502. Its address is in Lee County, within the 38804 postal area.
Key Highlights
- 1.2913‑acre site in Tupelo’s Historic Mill Village
- 1,268‑square‑foot mixed‑use property
- Zoned Mixed‑Use Residential
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
$10,526
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
6.01%
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%
$210,520
$210.5K
Cap Rate 7%
$150,371
$150.4K
Cap Rate 9%
$116,956
$117.0K
Market Conditions
NOI Build-Up for 1,268 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
$16.4K $12.96/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$15.0K $11.86/SF
− OpEx
−$4.5K −$3.56/SF
NOI
$10.5K $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%
$210,520
Cap Rate 7%
$150,371
Cap Rate 9%
$116,956
Alternative Uses
Best Use
Retail
$150.4K
$131.6K – $175.4K
NOI $10,526 @ 7.0% cap · market cap 6.01%
Second Best
Mixed Use
$100.1K
$87.6K – $116.8K
NOI $7,007 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$238.1K
$208.4K – $277.8K
NOI $16,669 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property carries Mixed-Use Residential zoning, with applicable uses identified in the listing documents.
Where is this mixed-use property located?
The property is located at 511 S Green St Tupelo, MS.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1.2913‑acre site in Tupelo’s Historic Mill Village; 1,268‑square‑foot mixed‑use property; Zoned Mixed‑Use Residential
