Professional Office
For Sale
$494,900
806 Garfield St, Tupelo, MS 38801
Commercial Sale, Tupelo, MS
Property Size3,305 SF
Lot Size0.27 Acres
Price / SF$149.74
Days on Market98
Property Features for 806 Garfield St
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
South Gloster to Garfield. West on Garfield, building is on the right.
Subdivision
Southwest Tupelo
Standard status
Active
Size
3,305 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
Book 0405 Page 556
Tax Annual Amount
7571
Legal Description
Book 0405 Page 556
Building Details
Year built
1972
Floors in Building
1
Listing Agency:
TM REALTORS
(662) 842-3844
Listed By:
Mikey Hunter · License #S-56843
(662) 871-0996
Added: Jul 10
Changed: Oct 8
Last Checked: Oct 15 at 11:06AM
MLS# 26-2501
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 3,305-square-foot office building, constructed in 1972, offers a functional configuration for professional, medical, dental, or administrative operations. The property sits on a 0.27-acre lot and is suited to an owner-user or investor seeking an established office asset.
The building is located in Tupelo’s medical corridor at 806 Garfield St, with access to major thoroughfares. Its office format and stated use potential support a range of professional and healthcare-related occupancy needs.
The building is located in Tupelo’s medical corridor at 806 Garfield St, with access to major thoroughfares. Its office format and stated use potential support a range of professional and healthcare-related occupancy needs.
Key Highlights
- 3,305‑square‑foot office building
- 0.27‑acre lot
- Built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,881
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,620
$617.6K
Cap Rate 7%
$441,157
$441.2K
Cap Rate 9%
$343,122
$343.1K
Market Conditions
NOI Build-Up for 3,305 SF
Gross rent
$57.5K $17.40/SF
− Vacancy
−$6.0K −$1.83/SF
EGI
$51.5K $15.57/SF
− OpEx
−$20.6K −$6.23/SF
NOI
$30.9K $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 Rate 5%
$617,620
Cap Rate 7%
$441,157
Cap Rate 9%
$343,122
Alternative Uses
Best Use
Healthcare Medical
$441.2K
$386.0K – $514.7K
NOI $30,881 @ 7.0% cap · market cap 6.24%
Second Best
Office B
$414.3K
$362.5K – $483.4K
NOI $29,001 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$620.7K
$543.1K – $724.1K
NOI $43,448 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,259
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Functional office layout on a 0.27-acre site within Tupelo’s medical corridor.
Where is this office building located?
The property is located at 806 Garfield St Tupelo, MS.
What is the asking price?
The asking price for this property is $494,900.
What are key features of this property?
This property features: 3,305‑square‑foot office building; 0.27‑acre lot; Built in 1972
