1416 Memphis St, Hernando, MS 38632

FOR SALE BY OWNER — Residential/Office Zoned Property — Hernando, MS 1,300 sq ft permitted home on 0.50 acre lot with Residential/Office zoning. Located directly across from commercial buildings — ideal for office, salon, boutique, studio, or small business use. Property sold AS-IS. Additional 300 sq ft bonus area is unpermitted and not included in the official square footage. This property offers both a home and office/business space in one location, with strong future commercial potential. --- Why the Asking Price Is $500,000 Commercial properties in this area with similar visibility, lot size, and zoning potential routinely sell for $450,000 to $600,000. This property sits directly across from established commercial buildings and already carries Residential/Office zoning, making it uniquely positioned for future commercial conversion. A buyer is not just purchasing a residence — they are purchasing: - A home - An office - A business location - A half-acre lot in a commercial corridor - A property with $450k–$600k commercial upside The asking price reflects the true market value of the location and its commercial potential. --- Key Features - Zoned Residential/Office (commercial potential) - Half-acre lot in a high-visibility corridor - Ideal for home-based business or full office use - Additional unpermitted 300 sq ft bonus area - Owner financing available with acceptable down payment - Buyer may NOT apply for commercial zoning until loan is paid in full - No occupancy or alterations before closing - Property sold AS-IS --- Price & Terms Asking Price: $500,000 Down Payment: $50,000 – $75,000 (10–15%) Interest Rate: 8.5% – 9.5% Loan Term: 30 years Estimated Monthly Payment: $3,300 – $3,900 These terms reflect the fact that the buyer is acquiring a home, an office, and a property with significant commercial value. --- Buyer Requirements - Serious inquiries only - Proof of funds or pre-approval required - Must agree to zoning restriction clause until loan is paid in full