904 Coldwater RdMurray, KY 42071

  • Retail properties
  • 864 SF
For Sale
$545,000 View listing

Property Details for 904 Coldwater Rd

Property size (Sq ft)
864 SF
Property type
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
904 Coldwater Rd, Murray, Kentucky

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$1,070
-
-
$200,000
-
-
-
$200,000

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