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    The Largest CRE Database in the US with Over 1 Million Listings

    969 S Willow Ave Cookeville, TN 38501

    Sponsored
    For Sale
    $1,390,000

    LAND - Cookeville, TN

    Lot size:
    2.25 Acres
    Days on Market:
    306
    Last Refresh:
    Jan 30 at 3:06 am

    Property Features for 969 S Willow Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CG
    APN
    058.04
    Lot size
    2.25 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Waterfront

    We can help!

    Listing Contact
    Wayne Russell

    Highlands Elite Real Estate, LLC (931) 400-8820

    Listing agent Wayne Russell (931) 260-3743

    Listing date Mar 31, 2025

    MLS# 225607

    Copyright © 2025 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

    Prime Commercial Land in Cookeville

    This property, identified as TRACT #1, is a 2.25+/- acre commercial land parcel situated at the southwest corner of the intersection of S Willow Avenue and Humble Drive in Cookeville, TN. The site benefits from multiple road frontages, including 250+/- feet on S. Willow Avenue and 345+/- feet on Humble Drive. S. Willow Avenue is a major north/south arterial with a high traffic volume, exceeding 24,765 vehicles per day (AADT). Zoned General Commercial (CG), the property allows for a wide range of commercial uses, including office, retail, entertainment, and certain medical facilities. Its location provides convenient access to Interstate 40, being less than a mile north of I-40 Exit 286. The property is cleared and features a primarily flat to rolling topography. The entire site is located within a Qualified Opportunity Zone (QOZ). Utilities are available to the site. The parent parcel, totaling 4.5+/- acres, is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.52647193
    Latitude
    36.14230272

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    FAQs

    What type of property is this?
    Commercial land - 2.25+/- acre commercial land with high traffic frontage.
    Where is this commercial land located?
    The property is located at 969 S Willow Ave Cookeville, TN.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: - High-traffic location on S. Willow Avenue with 24,765+ vehicles per day (AADT); - General Commercial (CG) zoning allows for diverse commercial applications; - Excellent access to Interstate 40 (less than 1 mile from Exit 286)
    (931) 260-3743
    Request Owner's contact information
    969 S Willow Ave Cookeville, TN 38501
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    Cookeville, TN 38501
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    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
    969 S Willow Ave Cookeville, TN 38501
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    We can help!
    Listing Contact
    Wayne Russell
    Real Estate License ID: 333678
    (931) 260-3743
    Learn more
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