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    1301 Chestnut St Murray, KY 42071

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    1301 Chestnut St Murray, KY 42071

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    • Retail space
    • 3,496 SF
    For Sale
    $699,500
    View Listing →
    Commercial Building Near University For Sale
    $699,500
    4,000 SF

    Commercial Building Near University

    Highway Business District property suitable for various commercial uses.

    1301 Chestnut Street, Murray, KY 42071
    View Listing
    Property ID
    US34-2209943
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Profiles Salon and Spa / Hair Salon / Nail Salon
    • Beauty By Abbey / Hair Salon

    Property Details for 1301 Chestnut St

    Property size
    3,496 SF
    Property type
    Retail space
    APN
    003-0-0013-00004
    APU
    30001300004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Murray
    County
    Calloway
    State
    Kentucky
    Longitude
    -88.3169
    Latitude
    36.6163
    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
    $1,184
    $0.00
    $0.00
    $325,000
    -
    $0.00
    $0.00
    $325,000

    Comparable in this City

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      3,600 SF

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    • Value Estimation by Request
      6,160 SF

      350 Utterback Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,160 SF
      350 Utterback Rd, Murray, KY 42071-8884
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    • Value Estimation by Request
      1,200 SF

      State Rte 121st S

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      State Rte 121st S, Murray, KY 42071
      View Details
    • Value Estimation by Request
      2,530 SF

      2994 State Rte 94th E

      RETAIL STORES (PERSONAL SERVICES) • 2,530 SF
      2994 State Rte 94th E, Murray, KY 42071-6504
      View Details
    • Value Estimation by Request
      3,840 SF

      3311 State Rte 94th E

      RETAIL STORES (PERSONAL SERVICES) • 3,840 SF
      3311 State Rte 94th E, Murray, KY 42071-6505
      View Details
    • Value Estimation by Request
      1,464 SF

      1104 Story Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,464 SF
      1104 Story Ave, Murray, KY 42071-2458
      View Details

    Similar Nearby for Sale

    • $699,500
      4,000 SF

      Commercial Building Near University

      Highway Business District property suitable for various commercial uses.
      1301 Chestnut St, Murray, KY 42071
      View Details
    • $349,500
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      Commercial Property in Murray, KY

      3844 sq ft commercial building with multiple opportunities.
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      3,400 SF

      Versatile Commercial Building Near Court

      3,400 SF commercial building near Murray's court square.
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      Commercial Property in Prime Location

      Commercial property in high-traffic area with leasing potential.
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    • $1,100,000

      Restaurant and Retail Opportunity

      Prime commercial location with restaurant and retail spaces for sale.
      408 N 12Th St, Murray, KY 42071
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    Similar Nearby for Lease

    • $12 SF/Yr

      Prime Retail Space in Murray

      3,000 sq ft retail space in premier commercial development.
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    • $2,200 /Mo

      Prime Commercial Space in Murray

      2,000 Sq Ft retail/office space near Walmart.
      811 N 12Th St, Murray, KY 42071
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    • $12 SF/Yr

      Prime Retail Space in Murray

      2,500 sq ft retail space in premier commercial development.
      708 N 12Th St, Murray, KY 42071
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    • $15 SF/Yr

      Retail Space in High-Traffic Area

      Over 6,900 sqft retail space in Murray, KY's retail district.
      616 N 12Th St, Murray, KY 42071
      View Details
    • $4,400 /Mo

      Prime Retail Space in Murray

      4,000 SF commercial space in front of Walmart SuperCenter.
      815 N 12Th St, Murray, KY 42071
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    • $12 SF/Yr

      Prime Retail Space in Murray

      Adaptable 4,000 sq ft retail space in a bustling area.
      718 N 12Th St, Murray, KY 42071
      View Details
    View Listing
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    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.

    More about this property
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