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Arena Venue and Restaurant 203 Commerce St

5,669 SF Retail Building Tupelo, MS 38804 $1,100,000 ($194/SF)

Investment Highlights

  • Downtown Tupelo is a pedestrian-friendly environment featuring design elements designed to encourage walking and bike traffic.

Executive Summary

Great turn-key restaurant (2,936 SF) and meeting/party venue (2,733 SF). Both buildings were renovated in 2017. The property has been home to the BBQ-by-Jim restaurant, which has been a staple and landmark Tupelo business for decades. The private parking lot offers 32 parking spaces, with overflow parking into several public parking areas. Downtown Tupelo is a pedestrian-friendly environment featuring design elements designed to encourage walking and bike traffic. Neighbors include professional office users of every kind, restaurants, and retailers; as well as several residential projects for owners and tenants.
Located in the Tupelo Central Business District across the street from the Cadence Arena and Conference Center, a nationally-recognized event venue which regularly accommodates 8,000 to 10,000 attendees for sporting events and concerts among other events. The property is visible from Main Street which is one of Tupelo's primary commercial corridors, and lies within .25 mile of US Hwy 45 providing N and S traffic throughout the State and beyond.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,669 SF
Year Built/Renovated
1975/2019
Price
$1,100,000
Price Per SF
$194
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Land Acres
1.00 AC
Opportunity Zone
Yes
Zoning
MUD - Mixed Use Downtown
Parking
32 Spaces (5.64 Spaces per 1,000 SF Leased)
Frontage
59 FT on Commerce Street

Nearby Major Retailers

Grill
BankPlus
Regions Bank
Walmart Neighborhood Market
McAlister's Deli
HOTWORX
Kroger
Renasant Bank
Checkers
Cadence Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
089L-32-013-01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$18,144
  • Listing ID: 29307716

  • Date on Market: 8/18/2023

  • Last Updated:

  • Address: 203 Commerce St, Tupelo, MS 38804

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