Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    221 N Oak Ave Cookeville, TN 38501

    Sponsored
    For Lease
    $12,900 /Mo ($9 SF/Yr)

    COMMERCIAL - Cookeville, TN

    Lot size:
    0.37 Acres
    Days on Market:
    17
    Last Refresh:
    Feb 5 at 9:06 pm

    Property Features for 221 N Oak Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    006.00
    Lot size
    0.37 Acres

    We can help!

    Listing Contact
    Hinal Tanwar

    The Real Estate Collective (931) 559-9500

    Listing agent Hinal Tanwar (931) 881-6971

    Listing date Jan 20, 2026

    MLS# 239382

    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.

    Learn more

    Property Insight Report

    Overview

    Medical/Office Space Near CRMC

    This commercial space is available for lease at $24 per square foot, suitable for medical or professional office use. The building is located steps from Cookeville Regional Medical Center (CRMC), Tennessee Tech University, and downtown Cookeville. The layout includes 10 exam rooms, 4 private offices, phlebotomy and X-ray rooms, and a spacious reception and waiting area. An optional 2-bedroom upstairs apartment is available. The space is suitable for physicians, home health providers, or professional offices, with room for 3-4 providers or multiple setups. The property is located in Cookeville, TN, in Putnam County, and has a lot size of 0.37 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Richard I. ... Physician Kristine S. Germann, ... Physician Rajiv Sinanan Physician Quality Private Duty ... Home Health Care Service Dr. Virin Ramoutar Physician

    Suggested Use

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

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

    Similar Places Nearby

    Petco Vaccination Clinic, Flatt Vet Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.5083245
    Latitude
    36.1670882

    Nearby Similar for Lease

    • $1,200 /Mo
      600 SF

      Versatile Retail/Office Space Available

      Prime Cookeville location suitable for retail or office use.
      425 E Broad St, Cookeville, TN 38501
      View Details
    • $900 /Mo
      600 SF

      Cookeville Office/Studio Space For Rent

      Versatile office or studio space in downtown Cookeville.
      410 E Spring St, Cookeville, TN 38501
      View Details
    • $5,000 /Mo
      3,200 SF

      Modern Commercial Space in Cookeville

      Spacious, modern commercial space with excellent visibility and flexible layout.
      1227 N Washington Ave, Cookeville, TN 38501
      View Details
    • $3,500 /Mo
      2,200 SF

      Remodeled Retail Space, High Visibility

      Newly remodeled retail space in high-traffic Cookeville area.
      303 N Willow Ave, Cookeville, TN 38501
      View Details
    • $8 SF/Yr
      152,250 SF

      Ready Industrial Building For Lease

      152,250 SF industrial building with expansion potential.
      3311 Highlands Park Blvd, Cookeville, TN
      View Details
    • $8 SF/Yr
      227,760 SF

      227,760 SF Industrial Building Available

      Upfit-ready industrial building with expansion potential in Cookeville, TN.
      3100 Venture Dr, Cookeville, TN
      View Details
    • $17 SF/Yr
      2,520 SF

      Retail Space Near Walmart

      2,520 SF retail space with high visibility and traffic.
      770 S Jefferson Ave, Cookeville, TN 38501
      View Details
    • Contact for pricing
      30,000 SF

      Cookeville Industrial Warehouse

      30,000 SF Warehouse - New Construction
      45 C C Camp Rd, Cookeville, TN 38501
      View Details
    • Contact for pricing
      22,230 SF

      Cookeville Warehouse: 22,230 SF

      Single-tenant warehouse, fully vacant, recently renovated.
      2221 Jackson St, Cookeville, TN 38501
      View Details
    • Contact for pricing
      3,895 SF

      Retail Space in Cookeville Center

      Retail space available in a Walmart shadow-anchored shopping center.
      768 S Jefferson Ave, Cookeville, TN 38501
      View Details
    • Contact for pricing
      8,000 SF

      Cookeville Retail Space Available

      Prime Cookeville location, 8,000 sqft available
      660-670 Main St, Cookeville, TN 38506
      View Details

    FAQs

    What type of property is this?
    Medical office - Prime medical/office space near Cookeville Regional Medical Center.
    Where is this medical office located?
    The property is located at 221 N Oak Ave Cookeville, TN.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: - Prime location steps from Cookeville Regional Medical Center (CRMC) hospital, Tennessee Tech University, and downtown Cookeville.; - Fully built-out medical/professional office space ready for immediate occupancy.; - Includes **10 exam rooms, 4 private offices, phlebotomy & X-ray rooms.**
    (931) 881-6971
    Request Owner's contact information
    221 N Oak Ave Cookeville, TN 38501
    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.
    221 N Oak Ave
    Cookeville, TN 38501
    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
    221 N Oak Ave Cookeville, TN 38501
    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

    We can help!
    Listing Contact
    Hinal Tanwar
    Real Estate License ID: 374225
    (931) 881-6971
    Learn more
    Google sign-in failed. Please try again or use another login method.