Building Details

Year built 2004

Floors in Building 1

Listing Agency: Keller Williams Realty DBA Cookeville RE Company Show Phone

Listed By: Hinal Tanwar Show Phone

Added: Sep 11 Changed: Oct 16 Last Checked: Oct 28 at 7:06AM

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MLS# 247086

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.

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Investment Insights

Based on property information with market context.

Located at 11855 Nashville Hwy in Baxter, Tennessee, this 2,800-square-foot commercial property occupies 0.496 acres and was built in 2004. The existing configuration includes a grocery store, deli, and beer operation. The property previously operated as a gas station, supporting continued consideration of automotive-related use alongside other commercial applications.

Potential uses identified for the property include a restaurant or food establishment, warehouse or storage facility, retail store or convenience mart, gas station, office, or service-based business. The site is near Cordell Hull Lake, 13 miles east of Cookeville and 40 miles east of Nashville.

Key Highlights

• 2,800‑square‑foot commercial property on 0.496 acres
• Existing grocery store, deli, and beer operation
• Previously operated as a gas station

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,382

Cap Rate

5.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,640 $367.6K

Cap Rate 7%

$262,600 $262.6K

Cap Rate 9%

$204,244 $204.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$27.5K $9.81/SF

− Vacancy

−$1.2K −$0.43/SF

EGI

$26.3K $9.38/SF

− OpEx

−$7.9K −$2.81/SF

NOI

$18.4K $6.56/SF

Area

Putnam County, TN

Vacancy

4.40%

Lease Rate

$9.81 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,640

Cap Rate 7%

$262,600

Cap Rate 9%

$204,244

Alternative Uses

Best Use

Specialty Retail

$662.2K

$579.4K – $772.5K (±1% cap)

NOI $46,352 @ 7.0% cap · market cap 14.09%

Second Best

Retail

$625.8K

$547.6K – $730.1K (±1% cap)

NOI $43,804 @ 7.0% cap · market cap 13.31%

Theoretical Best

Office A

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $80,893 @ 7.0% cap · market cap 24.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Gas stations

Suggested Use

Top Pick Daycare Center Restaurant Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Explore this area Business Placement

Demographics for 38544, TN

7,435

Population

3,327

Households

2.2

Avg Household Size

40

Median Age

16%

College-Educated

85%

High-School Grad

79.2 sq mi

ZIP Area

94

Density / Sq Mi

$66,801

Median Household Income

$42,188

Median Earnings

$904

Median Rent

$222,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Gas station - The property includes a grocery store, deli, and beer operation, with potential for retail, restaurant, office, or storage use.

Where is this gas station located?

The property is located at 11855 Nashville Hwy Baxter, TN.

What is the asking price?

The asking price for this property is $329,000.

What are key features of this property?

This property features: 2,800‑square‑foot commercial property on 0.496 acres; Existing grocery store, deli, and beer operation; Previously operated as a gas station