The Crossings Of Tupelo Photo Gallery

Tupelo, MS, has a 2024 population of 37,775 in the city proper, within the Tupelo Micropolitan Statistical Area of 140,000 residents across Lee County. Demographic profile includes 52.7% White, 38.4% Black or African American, 1.1% Asian, with a median age of 38.5 years and 62.7% owner-occupied housing. Median household income stands at $52,335, supporting middle-class spending on healthcare, dining, and convenience retail. The trade area extends to 200,000 people and 85,000 households, bolstered by regional draw from I-22 corridor between Memphis and Birmingham, favoring everyday service tenants but sensitive to employment fluctuations in manufacturing and healthcare sectors.

The Crossings of Tupelo faces significant competition from the adjacent Mall at Barnes Crossing, a super-regional center with 93% occupancy, 13 million annual visitors, and diverse tenant mix including department stores, apparel, and entertainment. Nearby Big Oaks Crossing, anchored by Walmart (200,000 SF), adds grocery and general merchandise pressure, while Tupelo Commons hosts Lowes, Best Buy, and dining options. This saturation in 1.5+ million SF of nearby GLA risks diverting footfall, particularly for dining tenants amid 20+ casual eateries in the district. However, niche service providers like dental and specialty Asian cuisine experience lower direct rivalry, with market reports noting stable small-shop demand despite overall retail vacancy risks from e-commerce shifts.

Leases at The Crossings of Tupelo are structured as triple net (NNN), with tenants responsible for taxes, insurance, and maintenance, minimizing owner expenses. All four spaces feature long-term agreements (5-10 years typical) with scheduled annual rent increases of 2-3%, ensuring income growth amid 3.1% regional rent escalation in 2025. Estimated base rents range $18-25 per square foot NNN, competitive for high-traffic pads, yielding cap rates around 6-7% for investors. Risks include renewal challenges in a saturated market, but 100% occupancy and traffic (38,000 VPD) support premium positioning. Operational costs are low, though aging infrastructure in broader district could indirectly impact accessibility.