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    1700 12Th St Murray, KY 42071
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    1700 12Th St, Murray, KY 42071

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    • Retail properties & Spaces
    • 302,775 SF
    • 38.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1700 12Th St

    Year built
    2025
    Lot size
    38.60 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Murray Crossing presents an exceptional opportunity for businesses seeking prime retail space in a thriving Kentucky market. This new, Class A development, slated for completion in 2025, encompasses 302,775 square feet across eight single-story buildings, offering a diverse range of spaces from 1,500 square feet to a maximum contiguous 129,000 square feet. The development features multiple tenancy options, including big-box, junior anchor, inline, and outparcel opportunities, catering to a variety of business needs. Located at 1700 N 12th St, Murray, KY 42071, the property boasts excellent visibility and accessibility, situated on 38.6 acres with prominent pylon signage and a proposed signalized intersection at North 12th Street, which sees over 17,596 vehicles per day. Additional access is provided via a signalized intersection off Utterback Road. The strategic location benefits from proximity to major retailers and restaurants, including Walmart, Lowe's, Kroger, and numerous national chains, as well as hotels like SpringHill Suites and Holiday Inn. Murray, KY, serves a trade area exceeding 100,000 people, is the county seat of Calloway County, and is home to Murray State University with a student population of 9,427. The city's strong community and vibrant atmosphere, recognized as "Friendliest Small Town in America," create a highly desirable environment for businesses. This development offers unparalleled potential for growth and success in a dynamic and attractive market. Zoned commercial, the property is situated in the Murray submarket of Calloway County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Murray
    County
    Calloway
    State
    Kentucky
    Longitude
    -88.3103
    Latitude
    36.6362

    Comparable in this City

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      2,184 SF

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      1.00 Acre

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      23.69 Acres

      809 12th St

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      809 12th St, Murray, KY 42071-1648
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    • Value Estimation
      $2,390,000
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      700 12th St

      DEPARTMENT STORE
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      708 12Th St

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      708 12Th St, Murray, KY 42071
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    • Value Estimation by Request

      716 12Th St

      Retail properties & Spaces
      716 12Th St, Murray, KY 42071
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    Similar Nearby for Lease

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      Restaurant/Retail Space in Murray, KY

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      Retail Space in High-Traffic Area

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      New Retail Space Near University

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    1700 12Th St
    Murray, KY 42071
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    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.

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