Former Pizza Hut / Cash Express

Retail-Commercial for Sale
Catylist Listing ID: 30778813
Property Subtypes: Mixed Use, Restaurant, Street Retail
Building Size (RSF): 5,088 SF
Gross Building Area: See Agent
Gross Land Area: 29,840 SF
Sale Price: $1,200,000
Unit Price: $235.85 PSF
In Opportunity Zone? Yes
Has Drive-Thru? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Former Pizza Hut
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/12/2022

Overview / Comments

One of Murray's Premier Corner Properties is Available! Two buildings situated on a .69 acre parcel, one of which was formerly Pizza Hut and the other is Currently a Cash Express, this property has been an established restaurant location for over 40 years. Located at the intersection of 12th Street (US 641), which is a North-South Corridor connecting I-69 to the North and I-40 to the South, and Chestnut Street, a major artery entrance into Murray State University, this location has one of the highest traffic counts in Murray with excellent visibility from all directions. This property is centrally located in the heart of Murray between many of the retail stores, restaurants, established residential neighborhoods, Murray City Parks, and Murray State University. Zoned B-2 Highway Business.
Murray is located in Calloway County in the western part of the state with a county population of approximately 39,500 residents and home to Murray State University. Murray State University was founded in 1922 and is a 4 year state public university with undergraduate and graduate enrollment of approximately 9400 students.
Murray and Calloway County's largest employers include Murray State University, Murray Calloway County Hospital, Pella Windows, Saputo Dairy Products, DAE-IL Corporation, Vanderbilt Chemicals, Sportable Scoreboards, Kenlake Foods, Murray Mold and Die, iwis Engine Systems, TPG Plastics, as well as the Murray City Schools and Calloway County School System.
Murray and Calloway County is also home to a large portion of Kentucky Lake which combined with its proximity to Land Between the Lakes National Recreation Area attract many tourists throughout the year for hiking, camping, horseback riding, fishing, hunting, and boating.

Current Tenants

Tenant Business Name Former Pizza Hut
Tenant Business Name Cash Express
Is Renting? Yes

Additional Details

Nearest MSA: Murray
County: Calloway
Taxing Authority: Calloway County PVA
Tax ID/APN: 006-0-0002-0001B, 006-0-0002-00001
Zoning: B-2 HIGHWAY BUSINESS
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: 12th and Chestnut Intersection SE Corner
Property Visibility: Excellent
Largest Nearby Street: 12th Street (US Highway 641)
Highway Access: US 641 (12th Street Frontage)
Airports: Murray Calloway County
Site Description: Approx .69 acre parcel with two existing buildings. One is a former Pizza Hut (2176 sq ft) currently vacant. The other is a Cash Express location (2912 sq ft) . Lot Dimensions are approximately 248 ft on US 641 and 129 ft on Chestnut Street.
Area Description: Centrally located in Murray with most of the retail shopping and restaurants located just North and South of this location. Murray City Parks and older residential areas to the East of this location. Some retail and restaurants and the Murray State University Campus just to the West of this location.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Average
Exterior Description: Former Pizza Hut is a combination of Brick and Wood Veneer with Metal Roofing. The Cash Express is metal siding and metal roof.
Parking Type: Surface
Zoning Description: B-2 Highway Business - Please refer to City of Murray KY Zoning Ordinances at murrayky.gov
Lot Frontage: 248
Lot Depth: 129
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Buyer to Verify
Land Ownership: Owned
Legal Description: Calloway County DB 441/339 parcel I and IV.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,136 19,594 21,879
Median Age: 24.43 31.13 32.78
Households: 3,569 8,255 9,144

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