Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    94 Chestnut St. Murray, KY 42071

    View on Map
    Claim this Listing
    New
    For Lease
    $1,500 /Mo

    Industrial - Murray, KY

    Type:Industrial
    Property size:
    4,000 SF
    Added:
    Apr 21, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 21 at 10:06 pm

    Property Features for 94 Chestnut St.

    General Information

    Property type
    Commercial Lease
    Property subtype
    Industrial
    Parking features
    Assigned
    Standard status
    Active
    Size
    4,000 SF

    Utilities

    Heating system
    Natural Gas

    Building Details

    Floors in Building
    1
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Whitney Klaas

    Listing agent Whitney Klaas License #298904

    Listing office Keller Williams Experience Realty 105 N 6th St, Murray, KY

    Listing date Apr 21, 2026

    MLS# 136574 Listing URL

    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.

    Overview

    Versatile Commercial Space in Murray

    This 4,000 sq ft commercial space is available for lease in Murray, KY. Situated in a high-visibility location on a high-traffic road within an industrial corridor, the property is zoned Industrial District, allowing for flexible use. The layout features six separate rooms or office spaces, two bathrooms, and a 49' x 49' auditorium equipped with a stage or platform and a sound booth. This makes it suitable for a variety of business uses. Parking is available in both the front and back of the property. The owner allows tenants to customize the interior to fit their specific needs. The owner remains responsible for all exterior maintenance and upkeep. A minimum one-year lease is preferred for this move-in ready space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Murray
    County
    Calloway
    State
    Kentucky
    Longitude
    -88.301375
    Latitude
    36.617501

    Nearby Similar for Lease

    • Contact for pricing

      Industrial Facility with Office Space

      5,000 sq ft industrial facility with office space.
      95 Spruce Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Professional Office Suite in Murray

      Functional 1,150 sq ft suite ideal for medical or office.
      1210 Johnson Blvd, Murray, KY 42071
      View Details
    • Contact for pricing

      Downtown Murray Office Space Available

      Turn-key office space for lease in downtown Murray.
      118 S 5th Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Turnkey Restaurant in Murray, KY

      Prime commercial building, currently a pizza restaurant, for lease.
      317 Chestnut Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Prime Commercial Space in Murray

      2,000 Sq Ft retail/office space near Walmart.
      811 N 12th Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Restaurant/Retail Space in Murray, KY

      Restaurant or retail property for lease in Murray, Kentucky.
      1310 Main Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Prime Retail Space in Murray

      4,000 SF commercial space in front of Walmart SuperCenter.
      815 N 12th Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Warehouse Space in Murray, KY

      5,000 sq ft warehouse space for lease in Murray.
      90 Spruce Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Retail Space in Olive Plaza

      Highly visible retail space available in Murray, Kentucky.
      201 N 12th, Murray, KY 42071
      View Details
    • $15/mo

      Retail Space in High-Traffic Area

      Over 6,900 sqft retail space in Murray, KY's retail district.
      616 N 12th Street, Murray, KY 42071
      View Details
    • Contact for pricing

      Downtown Murray Turn Key Office

      Turn key office space in Murray's Historic Court Square.
      118 S 5th Street, Murray, KY 42071
      View Details
    • $32/mo

      Retail Space Near Murray State

      Retail spaces available in shopping center near Murray State University.
      1300 KY-121, Murray, KY 42071
      View Details

    FAQs

    What type of property is this?
    Flex space - 4,000 sq ft space with flexible layout for lease.
    Where is this flex space located?
    The property is located at 94 Chestnut St. Murray, KY.
    What is the lease rate?
    The lease rate is $1,500 /Mo.
    What are key features of this property?
    This property features: High‑visibility location on a high‑traffic road in an industrial corridor.; Versatile 4,000 sq ft space suitable for various business uses.; Large 49' x 49' auditorium with stage/platform and sound booth.
    (270) 205-6236
    We can help!
    Listing Contact
    Whitney Klaas
    Real Estate License ID: 298904
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!