512 12Th StMurray, KY 42071

Property Details for 512 12Th St

Property size (Sq ft)

12,060 SF

Property type

Retail space

APN

005-0-0019-00003

APU

50001900003

Description

This exceptional 12,060 square foot commercial property at 512 S 12th Street, Murray, KY, presents a compelling investment opportunity. Situated in a high-traffic area on Murray's south side, this property benefits from its proximity to a variety of established businesses, including retail stores, lodging facilities, and restaurants. Currently occupied by a tenant with a lease expiring December 25th, the property offers immediate income potential. Beyond the main building, a valuable asset is the inclusion of a two-bay garage located on the south side, currently utilized for storage. This versatile space offers additional income potential or could be adapted to suit a variety of needs. The property boasts a recently installed roof (2021), ensuring long-term cost savings and peace of mind. Three-phase electric power is readily available, catering to a wide range of commercial uses. Access is facilitated by a shared drive easement with an adjacent carwash, ensuring convenient ingress and egress. This property is ideally suited for investors seeking a strong return on investment in a thriving commercial district. The combination of existing tenancy, versatile space, and prime location makes this an exceptional opportunity not to be missed.

• CAP approach

  CAP return

  Valuation

  6%

  $3,150,070

  6.5%

  $2,907,750

  7%

  $2,700,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $977,806

  Geo Method

  $977,806

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,665,880

  Mixed-Use / Specialty

  $2,899,210

  Hospitality / Lodging

  $2,129,440

  Office

  $2,883,890

  Institutional / Educational

  $3,014,660

  Residential Income

  $3,527,160

  Multifamily

  $4,220,160

  Automotive / Energy

  $2,584,000

  Parking / Income-Based Land

  $889,902

  Restaurant / Food Service

  $1,511,800

  Healthcare / Senior Housing

  $2,971,220

Location Insight

City

Murray

County

Calloway

State

Kentucky

Latitude

36.6014

Longitude

-88.3157

CBSA code

34660

CBSA name

MURRAY, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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