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    Prime Commercial Site in Cookeville Title is generated by Realmo AI

    1115 S Willow Ave, Cookeville, TN 38501

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    Claim this Listing
    For Sale
    $2,895,000

    COMMERCIAL - Cookeville, TN

    Property size:
    38,152 SF
    Lot size:
    2.66 Acres
    Price / SF:
    $75/SF
    Added:
    Apr 7, 2026
    Days on Market:
    38
    Last Refresh:
    May 14 at 5:06 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
    Electric (Heating), Natural Gas, Central
    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.

    HighLights

    • 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.
    • High‑impact commercial site in one of Middle Tennessee's fastest‑growing corridors.
    • Currently operating as the Star Motor Inn (80 units) & Benny's Store, providing immediate income potential.
    • Existing infrastructure includes block and brick construction, natural gas heating, central air cooling, and public water source.

    Overview

    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

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    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
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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.

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