Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1115 S Willow Ave Cookeville, TN 38501

    View on Map
    New
    For Sale
    $2,895,000

    COMMERCIAL - Cookeville, TN

    Property size:
    38,152 SF
    Lot size:
    2.66 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 8 at 6:06 pm

    Property Features for 1115 S Willow Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    094.00
    Size
    38,152 SF
    Lot size
    2.66 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6782

    Utilities

    Heating system
    Natural Gas, Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1966
    Floors in Building
    2
    Number of units
    80
    Building materials
    Block, Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Donnita Hill
    Donnita Hill

    Listing agent Donnita Hill License #018217

    Listing office Elevate Real Estate 1400 Neal Street, Cookeville, TN

    Listing date Apr 7, 2026

    MLS# 243361

    Copyright © 2026 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Commercial Site in Cookeville

    This 2.66-acre commercial property is located at 1115 S Willow Ave in Cookeville, TN. Currently operating as the Star Motor Inn and Benny's Store, the site features an 80-unit facility and a retail storefront. The property's value is enhanced by its Class 08 Commercial zoning and its location directly on the I-40 and S Willow Ave interchange. The property is across the street from the future Willows Shopping Center, a large development anchored by Target and Home Depot. The General Commercial zoning allows for a range of retail, professional, or hospitality uses. The property offers redevelopment potential for a flagship hotel or premier retail space. The property has 38152 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Star Motor Inn Hotel & Motel Bin Hop'n Bargain ... Discount Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Beaumont hotel — 2-16 S Dixie Ave, Cookeville, TN 38501
    • Cream City Ice Cream & Coffee House — 119 W Broad St, Cookeville, TN 38501
    • Affordable Dentist Brooklyn — 348 S Cedar Ave, Cookeville, TN 38501
    • Edgington Court 121 — 121 edgington dr, cookeville, tn 38501
    • Legacy Inn Cookeville — 663 S Willow Ave, Cookeville, TN 38501

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.5305557
    Latitude
    36.1346946

    Nearby Similar for Sale

    • $379,900
      3,200 SF

      Versatile Commercial Building in Cookeville

      Multi-use building with office and warehouse space, move-in ready.
      4624 W Broad Street, Cookeville, TN 38501
      View Details
    • $549,900
      2,400 SF

      Turnkey Commercial Opportunity on Hwy 70

      2400 sqft shop on 0.69 acres with highway frontage.
      2330 W Broad St, Cookeville, TN 38501
      View Details
    • $499,998
      4,380 SF

      High-Visibility Commercial Building on Fisk Rd

      4380 sqft commercial building with high visibility and accessibility.
      2355 Fisk Rd, Cookeville, TN 38506
      View Details
    • $1,499,000
      8,946 SF

      Prime Commercial Property, Cookeville, TN

      Excellent investment opportunity in Cookeville with high traffic and visibility.
      1470 S Jefferson Ave, Cookeville, TN 38501
      View Details
    • $995,000
      3,600 SF

      Commercial Property on Highway 111

      Highly visible commercial property with a 3,600 sq ft building.
      105 Rickman Monterey Hwy, Cookeville, TN 38506
      View Details
    • $335,000
      700 SF

      Cookeville Office/Retail Building For Sale

      Appointed office/retail building with 700+/- sf of improved space.
      220 W 3rd Street, Cookeville, TN 38501
      View Details
    • $429,000

      Operating Restaurant on 1.24 Acres

      Operating restaurant with modern amenities on 1.24 acres.
      210 Tommy Dodson Highway, Cookeville, TN 38506
      View Details
    • $369,900
      2,079 SF

      Turnkey Duplex in Cookeville, TN

      Two-unit property ideal for investors or owner-occupants.
      171 Third Ave, Cookeville, TN 38506
      View Details
    • $1,500,000
      17,110 SF

      Prime Commercial Property in Cookeville

      17,000+ sq ft commercial property in a desirable location.
      215 S Jefferson Ave, Cookeville, TN 38501-3406
      View Details
    • $369,929
      2,728 SF

      Renovated Multi-Unit Investment Property

      Fully renovated multi-unit property in a desirable location.
      507 E Stevens Street, Cookeville, TN 38501
      View Details
    • $628,904
      4,020 SF

      Cookeville Fourplex Near Tennessee Tech

      Townhome fourplex near Tennessee Tech and Cookeville Regional Medical Center.
      191 E 15th Street, Cookeville, TN 38501
      View Details
    • $128,900

      Garage/Workshop on .84 Acres

      Insulated garage/workshop on .84 acres ready for immediate use.
      15112 Dodson Branch Hwy, Cookeville, TN 38501
      View Details

    FAQs

    What type of property is this?
    Motel - High-visibility commercial site with redevelopment potential in growing area.
    Where is this motel located?
    The property is located at 1115 S Willow Ave Cookeville, TN.
    What is the asking price?
    The asking price for this property is $2,895,000.
    What are key features of this property?
    This property features: Premier location directly on the I‑40 & S Willow Ave interchange with unmatched visibility.; 2.66‑acre property with Class 08 Commercial zoning allowing for diverse development options.; Located across the street from the future Willows Shopping Center anchored by Target & Home Depot.
    (931) 261-1500
    We can help!
    Listing Contact
    Donnita Hill
    Donnita Hill
    Real Estate License ID: 018217
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!