Two-Story Brick Storefront
For Sale
$518,000
18 N Cedar Ave, Cookeville, TN 38501
SINGLE_FAMILY - Cookeville, TN
Property Size1,806 SF
Lot Size0.02 Acres
Price / SF$286.82
Days on Market14
Property Features for 18 N Cedar Ave
General Information
Property type
Residential
Property subtype
Retail
Parking features
On Street
Directions
From PCCH: Take a Right on S Lowe Ave; Travel S Washington Ave; Left on E Brad St; Right on N Cedar; Property is on your Right with sign in window.
Subdivision
Cookeville NE, TN
Standard status
Active
APN
053G A 007.00
Size
1,806 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
2399
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Building materials
Frame, Brick
Roof type
Composition, Rolled Hot Mop
Listing Agency:
Elevate Real Estate
(931) 520-6450
Listed By:
Donnita Hill · License #018217
(931) 261-1500
Added: Jul 29
Changed: Aug 5
Last Checked: Aug 11 at 5:06PM
MLS# 246179
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.
Investment Insights
Based on property information with market context.
Two-story brick storefront building located at 18 N Cedar Ave in Cookeville, TN, with 16 upstairs. The property totals 1,806 finished SF and is split between a high-visibility main-level retail storefront and an upstairs residential apartment.
Built in 1930, the building is constructed with frame and brick and features natural gas central heating and central air conditioning. The roof includes composition and rolled hot mop materials. Water service is public, and parking is available on street.
This downtown configuration supports combined storefront and residential use within the same building footprint, with a retail frontage on the main level and separate living space upstairs.
Built in 1930, the building is constructed with frame and brick and features natural gas central heating and central air conditioning. The roof includes composition and rolled hot mop materials. Water service is public, and parking is available on street.
This downtown configuration supports combined storefront and residential use within the same building footprint, with a retail frontage on the main level and separate living space upstairs.
Key Highlights
- 1,806 finished SF split between main‑level retail storefront and upstairs apartment
- Two‑story brick construction with frame and brick exterior
- Natural gas central heating and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,253
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,060
$565.1K
Cap Rate 7%
$403,614
$403.6K
Cap Rate 9%
$313,922
$313.9K
Market Conditions
NOI Build-Up for 1,806 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.6K $23.04/SF
− Vacancy
−$1.2K −$0.69/SF
EGI
$40.4K $22.35/SF
− OpEx
−$12.1K −$6.70/SF
NOI
$28.3K $15.64/SF
Area
Putnam County, TN
Vacancy
3.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,060
Cap Rate 7%
$403,614
Cap Rate 9%
$313,922
Alternative Uses
Best Use
Retail
$403.6K
$353.2K – $470.9K
NOI $28,253 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$253.9K
$222.2K – $296.3K
NOI $17,775 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$745.4K
$652.2K – $869.6K
NOI $52,176 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,336
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38501, TN
41,141
Population
19,158
Households
2.1
Avg Household Size
33
Median Age
31%
College-Educated
88%
High-School Grad
87.1 sq mi
ZIP Area
472
Density / Sq Mi
$50,923
Median Household Income
$30,191
Median Earnings
$856
Median Rent
$245,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Kroger Floral — 445 S Jefferson Ave, Cookeville, TN 38501
Frequently Asked Questions
What type of property is this?
Storefront property - Two-story brick building with a main-level retail storefront and an upstairs apartment plus on-street parking.
Where is this storefront property located?
The property is located at 18 N Cedar Ave Cookeville, TN.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: 1,806 finished SF split between main‑level retail storefront and upstairs apartment; Two‑story brick construction with frame and brick exterior; Natural gas central heating and central air conditioning
