Prime Commercial Site on
1115 S Willow Ave Cookeville, TN 38501
For Sale
$2,690,000
2.66-acre commercial site with high visibility and development potential.
Property Size38,152 SF
Lot Size2.66 Acres
Price / SF$70.51
Days on Market114
Property Features for 1115 S Willow Ave
General Information
Standard status
Active
Size
38,152 SF
Lot size
2.66 Acres
Listing Agency:
Elevate Real Estate
(931) 261-1500
Listed By:
Donnita Hill · License #018217
(931) 261-1500
Source:
Exprealty
Added: Apr 7
Changed: Jul 10
Last Checked: Jul 26 at 4:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elevate Real Estate
Investment Insights
Based on property information with market context.
This 2.66-acre commercial property is located at 1115 S Willow Ave in Cookeville, Tennessee. Currently operating as the Star Motor Inn, an 80-unit facility, and Benny's Store, a retail storefront, the site benefits from its location on the I-40 and S Willow Ave interchange. The property's Class 08 Commercial zoning allows for a range of retail, professional, or hospitality uses. The site is located across the street from the future Willows Shopping Center, which will be anchored by Target and Home Depot. The property offers redevelopment potential for a flagship hotel or premier retail space.
Key Highlights
- Premier location directly on the I‑40 & S Willow Ave interchange.
- Class 08 Commercial zoning allows for a wide range of retail, professional, or hospitality uses.
- Located across the street from the future Willows Shopping Center anchored by Target & Home Depot.
Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $572.3k | $15.00 |
| − Vacancy | −$68.7k | −$1.80 |
| EGI | $503.6k | $13.20 |
| − OpEx | −$264.4k | −$6.93 |
| NOI | $239.2k | $6.27 |
38,152 SF · lease $15.00/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Retail
$8.53M
$7.46M – $9.95M
NOI $596,856 @ 7.0% cap · market cap 22.19%
Second Best
Hotel Hospitality
$3.42M
$2.99M – $3.99M
NOI $239,213 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$15.75M
$13.78M – $18.37M
NOI $1,102,220 @ 7.0% cap · market cap 40.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - 2.66-acre commercial site with high visibility and development potential.
Where is this storefront property located?
The property is located at 1115 S Willow Ave Cookeville, TN.
What is the asking price?
The asking price for this property is $2,690,000.
What are key features of this property?
This property features: Premier location directly on the I‑40 & S Willow Ave interchange.; Class 08 Commercial zoning allows for a wide range of retail, professional, or hospitality uses.; Located across the street from the future Willows Shopping Center anchored by Target & Home Depot.
