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    111 Spring St Tupelo, MS 38804

    For Lease
    $16 SF/Yr ($7,366 /Mo)

    Historic building, flexible space, great location

    Lot size:
    5,525 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional office space, located in Tupelo's historic downtown central business district, offers flexible lease options. Situated above the renowned Reed's Department Store, this Class B building boasts 5,525 square feet, divisible into 2,300 or 3,225 square foot suites, or leased as a whole. The property, built in 1920 and renovated in 2000, is a two-story landmark. The asking rent is a competitive $16.00 per square foot annually, modified gross. Landlords are willing to offer tenant improvement allowances for qualified tenants. Parking is shared public, typical for the area. The building enjoys a prime location surrounded by a vibrant mix of restaurants, retailers, and other professional offices, including prominent businesses such as Cadence and Renasant banks, Vanelli's Deli, and the Mitchell McNutt and Sams law firm. This presents a unique opportunity for businesses seeking high-visibility, modestly-priced office space in a thriving downtown environment.

    Property Features for 111 Spring St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,525 SF
    Class
    B
    Total Rate
    7366.67

    Building Details

    Year Built/Renovated
    1920/2020
    Stories
    2

    Unit(s) available at that property

    Space
    Available Space 2
    Size
    3,225 SF
    Rate per SF
    $16
    Space
    Available Space 1
    Size
    2,300 SF
    Rate per SF
    $16

    HighLights

    • 5,525 SF of Class B office space available for lease in Tupelo's historic downtown CBD.
    • Located directly above the renowned Reed's Department Store.
    • Shared public parking is available, typical for the downtown area.
    • Excellent location surrounded by restaurants, retailers, and other professional offices.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tupelo 2 Go Delivery Service Arise Psychiatry Mental Health Service Ruth Bibeau Nurse Practitioner

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tupelo
    County
    Lee
    State
    Mississippi
    Longitude
    -88.704411450883
    Latitude
    34.256733255235

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    FAQs

    What type of property is this?
    Office Property / Space - Historic building, flexible space, great location
    Where is this office property / space located?
    The property is located at 111 Spring St Tupelo, MS.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 5,525 SF of Class B office space available for lease in Tupelo's historic downtown CBD.; Located directly above the renowned Reed's Department Store.; Shared public parking is available, typical for the downtown area.
    Request Owner's contact information
    111 Spring St Tupelo, MS 38804
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    111 Spring St Tupelo, MS 38804
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