408 12Th StMurray, KY 42071

Property Details for 408 12Th St

Property size (Sq ft)

1,600 SF

Property type

Retail space

APN

004-0-0014-00012

APU

40001400012

Description

This exceptional 5,088 square foot commercial property, located at 408 N 12th Street in Murray, Kentucky, presents a rare investment opportunity. Situated on a prominent corner lot at the intersection of 12th Street (US 641) and Chestnut Street, this location boasts unparalleled visibility and high traffic counts, benefiting from its proximity to Murray State University and its position along a major artery. The property's history as a long-standing restaurant (over 40 years as Pizza Hut and Cash Express) speaks to its proven viability and established customer base. Its B-2 Highway Business zoning allows for a wide range of commercial uses. The central location within Murray places it conveniently near numerous retail stores, restaurants, residential areas, city parks, and the university, ensuring a consistent flow of potential customers. This is a chance to acquire a well-established, high-visibility commercial property in a thriving Kentucky community. The asking price is $1,150,000. Don't miss this opportunity to own one of Murray's most recognizable commercial properties.

• CAP approach

  CAP return

  Valuation

  6%

  $537,617

  6.5%

  $496,262

  7%

  $460,815

• Comparable approach

  Method

  Valuation

  Relative Method

  $314,335

  Geo Method

  $314,335

• Alternative Use

  Use

  Valuation

  Residential

  $418,616

  Hospitality

  $383,450

  Educational

  $319,026

  Medical

  $329,997

  Retail

  $496,262

Location Insight

City

Murray

County

Calloway

State

Kentucky

Latitude

36.6037

Longitude

-88.3156

CBSA code

34660

CBSA name

MURRAY, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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