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    979 N Gloster St Tupelo, MS 38804
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    979 N Gloster St Tupelo, MS 38804

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    • Motels
    • 11,618 SF
    For Sale
    View Listing →
    79-Room Candlewood Suites Hotel For Sale
    Contact for pricing
    41,996 SF

    79-Room Candlewood Suites Hotel

    79-room hotel with amenities in Tupelo, Mississippi.

    979 N Gloster St, Tupelo, MS 38804
    View Listing
    Property ID
    US50-0903489
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Candlewood Suites Tupelo North, an IHG Hotel / Hotel & Motel
    • Grata Grille & Bar / Bar & Pub / Restaurant

    Property Details for 979 N Gloster St

    Year built
    2013
    Property size
    11,618 SF
    Property type
    Motels
    APN
    089A-30-117-00
    APU
    089A3011700

    Description

    This exceptional 79-key hospitality investment presents a unique opportunity. The four-story, 41,996 square foot Candlewood Suites hotel, built in 2013, sits on a 1.58-acre lot in Tupelo, Mississippi. Strategically located at the intersection of Gloster Street and McCullough Boulevard, this property enjoys high visibility and easy access. The hotel boasts a range of amenities designed for guest comfort and convenience, including a fitness center, guest laundry services, and fully equipped kitchens in each room. Additional features include an indoor pool, business center, outdoor gazebo with grill area. Its proximity to Tupelo's key attractions—Tupelo Buffalo Park & Zoo, Tupelo National Battlefield, BancorpSouth Arena, and Elvis Presley's birthplace—further enhances its appeal. The hotel's location in Northeast Mississippi, a region known as the Hils, places it within convenient driving distance of major cities like Memphis, Tennessee (90 miles) and Birmingham, Alabama (135 miles), serving as a regional hub. This institutional-grade investment offers significant potential for growth and return. The property's strong location and comprehensive amenities make it an attractive option for investors seeking a well-established hospitality asset in a thriving market. The single building structure simplifies management and maintenance.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tupelo
    County
    Lee
    State
    Mississippi
    Longitude
    -88.7168
    Latitude
    34.2719
    CBSA code
    46180
    CBSA name
    TUPELO, MS MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $82,668
    $0.00
    $0.00
    $617,666
    -
    $125,000
    $3,992,770
    $4,117,770

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      Home2 Suites by Hilton

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      41,996 SF

      79-Room Candlewood Suites Hotel

      79-room hotel with amenities in Tupelo, Mississippi.
      979 N Gloster St, Tupelo, MS 38804
      View Details
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      Tru by Hilton Hotel

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      121-Key Holiday Inn & Suites

      121-key hotel with restaurant, pool, and conference space in Tupelo.
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      Newly Built Home2 Suites Hotel

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      Newly Constructed Tupelo Hotel

      90-room hotel near Tupelo attractions, built in 2021.
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    Similar Nearby for Lease

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      Retail Space in Tupelo Center

      Retail spaces available in a busy shopping center.
      3875 N Gloster St, Tupelo, MS 38804
      View Details
    • $18 SF/Yr
      2,100 SF

      Office Space Available For Rent

      Office space available for rent, totaling 2,100 square feet.
      114 S Broadway St, Tupelo, MS 38804
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    • $12 SF/Yr
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      Retail Space in Tupelo, MS

      Retail space available for lease in Tupelo, Mississippi.
      218 S Gloster St, Tupelo, MS 38804
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      Retail Space in Tupelo, MS

      Retail space available for lease in Tupelo, Mississippi.
      3929 N Gloster St, Tupelo, MS 38804
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      175,000 SF

      Tupelo Industrial Facility with Rail

      175,000 SF industrial facility with rail access in Tupelo, MS.
      1867 South Veterans Memorial Blvd, Tupelo, MS 38804
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      Upscale Office Space Available

      Professional office building in the heart of the CBD.
      431 W Main St, Tupelo, MS 38804
      View Details
    View Listing
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    Tupelo, MS 38804
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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