904 Coldwater RdMurray, KY 42071

Property Details for 904 Coldwater Rd

Property size (Sq ft)

864 SF

Property type

Retail space

APN

001-0-0017-00003

APU

10001700003

Description

Exceptional investment opportunity awaits with this nine-unit apartment building located at 904 Coldwater Road, Murray, Kentucky, 42071. This property presents a compelling opportunity for investors seeking a strong return in a desirable location. The property consists of two buildings, each two stories high, situated on a half-acre lot (0.5 acres) with significant street frontage – 252 feet on Coldwater Road and 129 feet on Park Street. The convenient location offers close proximity to Murray State University, ensuring consistent tenant demand. The property features a mix of nine units, including five two-bedroom, one-bathroom units; two one-bedroom, one-bathroom units; and two studio units. The property is zoned B-2, providing flexibility for future development or expansion. The asking price for this multifamily investment is $545,000. This represents a rare chance to acquire a well-situated, established multifamily property in a thriving Kentucky market. The property's strong location and diverse unit mix make it an attractive investment for both seasoned and new investors. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $290,313

  6.5%

  $267,982

  7%

  $248,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $169,741

  Geo Method

  $169,741

• Alternative Use

  Use

  Valuation

  Residential

  $226,052

  Hospitality

  $207,063

  Educational

  $172,274

  Medical

  $178,199

  Retail

  $267,982

Location Insight

City

Murray

County

Calloway

State

Kentucky

Latitude

36.6199

Longitude

-88.3278

CBSA code

34660

CBSA name

MURRAY, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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