Office Building with Receiving
For Sale
$2,725,000
1150 Perimeter Park Dr, Cookeville, TN 38501
A flexible workplace combines private offices, open work areas, conference rooms, and training space.
Property Size13,499 SF
Lot Size1.60 Acres
Price / SF$201.87
Days on Market11
Property Features for 1150 Perimeter Park Dr
General Information
Standard status
Active
Size
13,499 SF
Total Parking Spaces
60
Lot size
1.60 Acres
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$21,130
Amenities
conference rooms
training centers
kitchens
break areas
receiving bay
Building Details
Year Built
2005
Year Renovated
2025
Buildings
1
Building Size
13,499 SF
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Highlands Elite Real Estate LLC
(931) 400-8820
Listed By:
Wayne Russell · License #333678
(931) 260-3743
Source:
Exprealty
Added: Oct 5
Changed: Oct 15
Last Checked: Oct 15 at 2:21AM
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 Highlands Elite Real Estate LLC
Investment Insights
Based on property information with market context.
At 1150 Perimeter Park Dr in Cookeville, this 13,499-square-foot office building occupies a 1.6-acre parcel. Built in 2005, the facility was remodeled and renovated in 2019, with updates in 2025. Its interior includes private offices, open bullpen areas, conference rooms, training centers, two kitchens, and break areas. A receiving bay serves deliveries, and 60 parking spaces are distributed around the building.
The property is in a Qualified Opportunity Zone near the intersection of Neal Street and Perimeter Park Drive. Average annual daily traffic at the site is 11,596 vehicles. The property is offered for sale and is also available for lease.
The property is in a Qualified Opportunity Zone near the intersection of Neal Street and Perimeter Park Drive. Average annual daily traffic at the site is 11,596 vehicles. The property is offered for sale and is also available for lease.
Key Highlights
- 13,499‑square‑foot office building on a 1.6‑acre parcel
- Built in 2005; remodeled and renovated in 2019, with updates in 2025
- Interior includes private offices, open bullpen areas, conference rooms, and training centers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,610
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,732,200
$3.7M
Cap Rate 7%
$2,665,857
$2.7M
Cap Rate 9%
$2,073,444
$2.1M
Market Conditions
NOI Build-Up for 13,499 SF
Gross rent
$311.0K $23.04/SF
− Vacancy
−$62.2K −$4.61/SF
EGI
$248.8K $18.43/SF
− OpEx
−$62.2K −$4.61/SF
NOI
$186.6K $13.82/SF
Area
Putnam County, TN
Vacancy
20.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,732,200
Cap Rate 7%
$2,665,857
Cap Rate 9%
$2,073,444
Alternative Uses
Best Use
Office B
$2.67M
$2.33M – $3.11M
NOI $186,610 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.57M
$4.87M – $6.50M
NOI $389,989 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A flexible workplace combines private offices, open work areas, conference rooms, and training space.
Where is this office building located?
The property is located at 1150 Perimeter Park Dr Cookeville, TN.
What is the asking price?
The asking price for this property is $2,725,000.
What are key features of this property?
This property features: 13,499‑square‑foot office building on a 1.6‑acre parcel; Built in 2005; remodeled and renovated in 2019, with updates in 2025; Interior includes private offices, open bullpen areas, conference rooms, and training centers
