Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    317 Chestnut Street Murray, KY 42071

    View on Map
    Claim this Listing
    For Sale
    $374,900

    Restaurant, 1 Story - Murray, KY

    Added:
    Feb 27, 2026
    Days on Market:
    68
    Last Refresh:
    May 6 at 3:06 pm

    Property Features for 317 Chestnut Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Block
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Patricia Cherry

    Listing agent Patricia Cherry License #207328

    Listing office Re/Max Real Estate Associates Murray 1625 Hwy121 By Pass N, Murray, KY

    Listing date Feb 27, 2026

    MLS# 135776 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.

    HighLights

    • Turnkey pizza restaurant opportunity: Option to purchase furniture, fixtures, and equipment.
    • High‑visibility location: Situated in an accessible area near an industrial corridor.
    • Move‑in ready space: Well‑maintained and equipped for immediate operation.
    • Equipped with essential commercial features: Including a 4 x 18 walk‑in freezer/cooler, Ansul fire suppression system, and commercial hot water heater.
    • Patio seating: Offers exterior access and enhances dining experience.
    • Existing lease holders willing to train: Providing support for a smooth transition.

    Overview

    Turnkey Restaurant in Murray, KY

    This prime commercial building, currently operating as a pizza restaurant, is available for sale. It presents a turnkey opportunity, with the option to purchase furniture, fixtures, and equipment. The property is situated in a high-visibility, accessible area near an industrial corridor, making it move-in ready. Key features include two HVAC units, a 4 x 18 walk-in freezer/cooler, an Ansul fire suppression system, a fresh intake & circulation system, and a commercial hot water heater. The interior boasts stained concrete floors and plumbing for a commercial dishwasher. The property also includes patio seating with exterior access, a kitchen, a dining area, and a service counter. The current operator runs limited hours from 3-9 pm and is closed on Mondays. The current leaseholders are willing to provide training, and showing times are negotiable. The pizza restaurant is still operational and maintained.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    GOFOR Pizza Restaurant Hop Hound Brew ... Bar & Pub

    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
    -88.301224
    Latitude
    36.617396

    Nearby Similar for Sale

    • $349,500

      Commercial Property in Murray, KY

      3844 sq ft commercial building with multiple opportunities.
      206 Maple Street, Murray, KY 42071
      View Details
    • $699,500

      Commercial Building Near University

      Highway Business District property suitable for various commercial uses.
      1301 Chestnut Street, Murray, KY 42071
      View Details
    • $85,000

      Versatile Commercial Building Near Court

      3,400 SF commercial building near Murray's court square.
      106 N 4th Street, Murray, KY 42071
      View Details
    • $674,900

      Commercial Building Near Murray State

      Commercial building with flexible layout near Murray State University.
      109 S 15th St, Murray, KY 42071
      View Details
    • $1,449,000

      Murray Commercial Office Building For Sale

      3,642 sqft office building on an acre in Murray, KY.
      1105 Octane Dr., Murray, KY 42071
      View Details
    • $715,000

      Murray, KY Warehouse Opportunity

      Two warehouses totaling 19,000+ sq ft on 2.47 acres.
      40 Neale Trail, Murray, KY 42071
      View Details
    • $1,199,000

      Fully Leased Shopping Center Investment

      Prime location shopping center with immediate income and growth potential.
      808 Chestnut Street, Murray, KY 42071
      View Details
    • $295,000

      Retail Building in Murray, KY

      3200 SF retail building with high visibility and ample parking.
      506 S 4th, Murray, KY 42071
      View Details
    • $308,000

      Spacious Murray Home with Income

      Updated 4/3 home with income potential near hospital.
      507 S 6th Street, Murray, KY 42071
      View Details
    • $199,000

      Versatile Building in Convenient Location

      2,300 sq ft property ideal for various uses.
      1634 Main Street, Murray, KY 42071
      View Details
    • $375,000

      Downtown Murray Versatile Commercial Property

      Charming property with B-3 zoning, suitable for versatile uses.
      102 S 6th Street, Murray, KY 42071
      View Details
    • $1,700,000

      Kentucky Lake Legacy Opportunity

      Waterfront estate with potential for visionary investment on Kentucky Lake.
      1024 Paradise, Murray, KY 42071
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Prime commercial building, currently a pizza restaurant, ready for operation.
    Where is this turn key restaurant located?
    The property is located at 317 Chestnut Street Murray, KY.
    What is the asking price?
    The asking price for this property is $374,900.
    What are key features of this property?
    This property features: Turnkey pizza restaurant opportunity: Option to purchase furniture, fixtures, and equipment.; High‑visibility location: Situated in an accessible area near an industrial corridor.; Move‑in ready space: Well‑maintained and equipped for immediate operation.
    (270) 293-0318
    We can help!
    Listing Contact
    Patricia Cherry
    Real Estate License ID: 207328
    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

    Thank You for Inquiry
    317 Chestnut Street, Murray, KY 42071
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!