US 641/12th Street Development Opportunity

Vacant Land for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30822523
Property Subtypes: Hospitality, Office, Retail, Retail-Pad
Gross Land Area: 42,890 SF
Sale Price: $1,295,000
Unit Price: $30.19 PSF
In Opportunity Zone? Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/27/2022

Overview / Comments

Outstanding Commercial Development Opportunity on 12th Street in Murray! Centrally located in the heart of Murray, on 12th Street (US 641), this parcel is in close proximity to the Murray City Parks, established residential areas, many of the retail stores and restaurants, and Murray State University. Almost an acre in size, with approximately 126 ft of road frontage and approximately 337 ft of depth, this parcel is well suited for a variety of uses as a retail development location. 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.

Attachments & Media

Additional Details

Nearest MSA: Murray
County: Calloway
Taxing Authority: Calloway Co PVA
Tax ID/APN: 006-0-0002-00018/006-0-0002-00019
Zoning: B-2
Property Located Between: Former Pizza Hut/Cash Express and Taco Bell
Property Visibility: Excellent
Legal Description: Calloway County DB 1030/360
Largest Nearby Street: US 641/ 12th Street
Feet of Frontage: 126
Highway Access: US 641/12th Street
Airports: Murray Calloway Co - Kyle Oakley Field
Site Description: Approximately .98 acre vacant parcel located on US 641/12th Street in Murray. Approximate lot dimensions are 126 x 337. The property is located just South of the US 641 (12th Street) & Chestnut Intersection on the East side of the highway.
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 as well as Murray State University just to the West of this location.
Lot Frontage: 126
Lot Depth: 337
Zoning Description: B-2 Highway Business - Please refer to the City of Murray KY Zoning Ordinances at www.murrayky.gov
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,712 19,594 21,879
Median Age: 26.98 31.13 32.78
Households: 4,294 8,255 9,144

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