417 - 431 West Main Professional Building Listing Details & Market Data

Located on Main Street at a signalized intersection in the central business district in Tupelo MS. Property is bordered on 3 sides with public roads and sidewalks, and is one of the few downtown Tupelo properties with a large private parking lot. Adjacent street parking is also availableMulti-level, professional office building stabilized with a strong tenant mix. The roster includes professionals from architecture, construction, & engineering; governmental services (GSA), and legal & financial industries (rent roll included), and is anchored by First American National Bank. All typical CDB occupants including legal services of all kinds, four major banks, many restaurants, and diverse retail shopping can all be found within 1 mile of the property. Residential neighborhoods of various price points lay immediately on the borders of the CBD, surrounding the area. The current rent rates for the tenancy is considered mid-range for the market, which could result in a value-add play for the investor. The building is generally considered to be a landmark in the marketplace. Current NOI = $311,835 with mostly mod gross leases. Profit / Loss Statement included. Occupancy typically varies between 92% - 95%Various spaces available in this professional building which is stabilized by its strong tenant mix. The roster includes professionals from architecture, construction, & engineering; governmental services (GSA), and legal & financial industries. The building is anchored by First American National Bank. This space is modernized, and well-designed. A full-service post office, four major banks, many restaurants and diverse retail shopping are within close proximity of this property. The parking lot is one of few private lots in the CBD. Finish-to-suit and TIA is available for strong prospects.