City-Limits Commercial Development
For Sale
$1,485,000
402 Chestnut St, Murray, KY 42071
Lots/Land, Murray, KY
Property SizeContact for details
Lot Size16.00 Acres
Days on Market185
Property Features for 402 Chestnut St
General Information
Property type
Land
Property subtype
Other
Lot features
In City Limits
Elementary school
Calloway/Murray-VERIFY
Middle school
Calloway/Murray-VERIFY
High school
Calloway/Murray-VERIFY
Directions
From Main and 641 continue on 641 toward 641S. Turn right on Chestnut, the property will be on the left.
Subdivision
Calloway
Standard status
Active
Lot size
16.00 Acres
Utilities
Water source
Public
Listing Agency:
Markethouse Realty, PLLC
(270) 753-4870
Listed By:
Rebecca Johnson · License #247755
(270) 293-2291
Added: Feb 26
Changed: Aug 21
Last Checked: Aug 30 at 5:06PM
MLS# 135579
Copyright © 2026 Western Kentucky Regional MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a 16+/- acre parcel within city limits, currently zoned R2. The land is partially cleared and positioned for development, with the remaining work dependent on the intended site plan and construction approach.
Located in Murray, KY, the property fronts a high-traffic thoroughfare and is described as having strong visibility and access. Any move from residential zoning to a commercial designation would require city planning and zoning approval, subject to the governing process.
For buyers and developers, this site is best suited for projects that can accommodate the existing R2 zoning or pursue a commercial rezoning path. The partially cleared condition can help reduce early site-prep steps, while the high-visibility, through-street setting supports a wide range of development concepts that align with the approvals ultimately granted by the city.
Located in Murray, KY, the property fronts a high-traffic thoroughfare and is described as having strong visibility and access. Any move from residential zoning to a commercial designation would require city planning and zoning approval, subject to the governing process.
For buyers and developers, this site is best suited for projects that can accommodate the existing R2 zoning or pursue a commercial rezoning path. The partially cleared condition can help reduce early site-prep steps, while the high-visibility, through-street setting supports a wide range of development concepts that align with the approvals ultimately granted by the city.
Key Highlights
- 16+/- acres within city limits on a high‑traffic thoroughfare
- Currently zoned R2, with potential for commercial rezoning subject to city planning and zoning approval
- Partially cleared and ready for development
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 42071, KY
29,703
Population
14,174
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
92%
High-School Grad
209.0 sq mi
ZIP Area
142
Density / Sq Mi
$48,976
Median Household Income
$29,805
Median Earnings
$841
Median Rent
$188,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Partially cleared 16+ acres on a high-traffic thoroughfare, zoned R2 with potential commercial rezoning subject to approvals.
Where is this residential land & home lot located?
The property is located at 402 Chestnut St Murray, KY.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: 16+/- acres within city limits on a high‑traffic thoroughfare; Currently zoned R2, with potential for commercial rezoning subject to city planning and zoning approval; Partially cleared and ready for development
