Multi-Suite Office/Retail
For Sale
Contact for pricing
1151 S WILLOW AVE, Cookeville, TN 38506
Four-suite office/retail property in Cookeville with suite sizes that support multiple business configurations.
Property Size8,750 SF
Price / SF$377.14
Days on Market60
Property Features for 1151 S WILLOW AVE
General Information
Standard status
Active
Size
8,750 SF
Class
A
Property subtype
Retail, Office
Zoning
CG
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1974
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Upper Cumberland Commercial
(931) 284-9098
Listed By:
Craig Hughes · License #339942
Source:
Crexi
Added: Jun 17
Changed: Aug 10
Last Checked: Aug 12 at 1:13PM
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 Upper Cumberland Commercial
Investment Insights
Based on property information with market context.
This For Sale office/retail property totals 8,750 SF and is arranged as four separate suites. Suite A is currently not available, while Suite B is 1,408 SF, Suite C is 806 SF, and Suite D is 1,300 SF. The multi-suite configuration provides a practical way to match different businesses with different space needs within a single building.
Located at 1151 S Willow Ave in Cookeville, Tennessee, the property’s positioning is described as highly desirable in the listing materials. The overall asset is presented as offering visibility and convenience, attributes that are typically important to service providers and retailers seeking an easy-to-find location.
For a buyer evaluating end-user or multi-tenant use, the suite layout allows for flexibility around occupancy planning. Businesses that benefit from dedicated, standalone space may find the available suite sizes workable for everything from a smaller office footprint to a larger retail-style operation. With three suites currently identified by size and one suite noted as not available, the building supports a structured approach to consolidating operations or accommodating multiple users under one ownership.
Located at 1151 S Willow Ave in Cookeville, Tennessee, the property’s positioning is described as highly desirable in the listing materials. The overall asset is presented as offering visibility and convenience, attributes that are typically important to service providers and retailers seeking an easy-to-find location.
For a buyer evaluating end-user or multi-tenant use, the suite layout allows for flexibility around occupancy planning. Businesses that benefit from dedicated, standalone space may find the available suite sizes workable for everything from a smaller office footprint to a larger retail-style operation. With three suites currently identified by size and one suite noted as not available, the building supports a structured approach to consolidating operations or accommodating multiple users under one ownership.
Key Highlights
- 8,750 SF office/retail property built in 1974 in Cookeville, TN
- Four‑suite layout with multiple business configuration options
- Suite B available: 1,408 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$136,886
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,737,720
$2.7M
Cap Rate 7%
$1,955,514
$2.0M
Cap Rate 9%
$1,520,956
$1.5M
Market Conditions
NOI Build-Up for 8,750 SF
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.
Gross rent
$201.6K $23.04/SF
− Vacancy
−$6.0K −$0.69/SF
EGI
$195.6K $22.35/SF
− OpEx
−$58.7K −$6.70/SF
NOI
$136.9K $15.64/SF
Area
Putnam County, TN
Vacancy
3.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,737,720
Cap Rate 7%
$1,955,514
Cap Rate 9%
$1,520,956
Alternative Uses
Best Use
Retail
$1.96M
$1.71M – $2.28M
NOI $136,886 @ 7.0% cap · market cap 4.15%
Second Best
Office B
$1.73M
$1.51M – $2.02M
NOI $120,960 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,790 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 38506, TN
29,976
Population
13,018
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
90%
High-School Grad
164.3 sq mi
ZIP Area
182
Density / Sq Mi
$63,051
Median Household Income
$37,589
Median Earnings
$1,032
Median Rent
$256,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Four-suite office/retail property in Cookeville with suite sizes that support multiple business configurations.
Where is this office units located?
The property is located at 1151 S WILLOW AVE Cookeville, TN.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 8,750 SF office/retail property built in 1974 in Cookeville, TN; Four‑suite layout with multiple business configuration options; Suite B available: 1,408 SF
