Multi-Level Office
For Sale
Contact for pricing
1221 S WILLOW AVE, Cookeville, TN 38506
Commercial-Industrial Mixed-Use zoning supports office, retail, entertainment, some medical, and light industrial uses.
Property Size14,450 SF
Lot Size1.38 Acres
Price / SF$394.46
Days on Market82
Property Features for 1221 S WILLOW AVE
General Information
Standard status
Active
Size
14,450 SF
Class
B
Total Parking Spaces
60
Lot size
1.38 Acres
Property subtype
Retail, Office
Zoning
Comercial Industrial
Lease Type
NNN
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1986
Year Renovated
2025
Buildings
2
Stories
1
Units
3
Listing Agency:
Highlands Elite Real Estate Commercial
Listed By:
Wayne Russell · License #TN 333678
(931) 260-3743
Source:
Crexi
Added: Aug 4
Changed: Oct 10
Last Checked: Oct 23 at 5:09AM
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 Commercial
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Investment Insights
Based on property information with market context.
This office property includes 14,450 square feet of space on a 1.38-acre site, with a layout designed to accommodate future vertical expansion to a third level. The improvements include 60 parking spaces, on-site utilities, and recent capital work completed in 2025, including a new roof and gutters, exterior repainting, landscaping, and parking lot resurfacing, sealing, and striping.
The property has access from South Willow Avenue and Gould Drive, with 163 feet and 276 feet of frontage, respectively. South Willow Avenue carries more than 14,795 VPD, and the site is less than ½ mile south of I-40 Exit 286. Target and Home Depot are located just north of the property. CI zoning allows office, retail, entertainment, some medical, and light industrial uses.
The property has access from South Willow Avenue and Gould Drive, with 163 feet and 276 feet of frontage, respectively. South Willow Avenue carries more than 14,795 VPD, and the site is less than ½ mile south of I-40 Exit 286. Target and Home Depot are located just north of the property. CI zoning allows office, retail, entertainment, some medical, and light industrial uses.
Key Highlights
- 14,450 SF office property on 1.38+/- acres
- 163+/- feet of frontage on South Willow Avenue and 276+/- feet on Gould Drive
- 60 parking spaces and utilities to site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,757
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,995,140
$4.0M
Cap Rate 7%
$2,853,671
$2.9M
Cap Rate 9%
$2,219,522
$2.2M
Market Conditions
NOI Build-Up for 14,450 SF
Gross rent
$332.9K $23.04/SF
− Vacancy
−$66.6K −$4.61/SF
EGI
$266.3K $18.43/SF
− OpEx
−$66.6K −$4.61/SF
NOI
$199.8K $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%
$3,995,140
Cap Rate 7%
$2,853,671
Cap Rate 9%
$2,219,522
Alternative Uses
Best Use
Office B
$2.85M
$2.50M – $3.33M
NOI $199,757 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.96M
$5.22M – $6.96M
NOI $417,464 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
148
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
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
Frequently Asked Questions
What type of property is this?
Office building - Commercial-Industrial Mixed-Use zoning supports office, retail, entertainment, some medical, and light industrial uses.
Where is this office building located?
The property is located at 1221 S WILLOW AVE Cookeville, TN.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: 14,450 SF office property on 1.38+/- acres; 163+/- feet of frontage on South Willow Avenue and 276+/- feet on Gould Drive; 60 parking spaces and utilities to site
