Office Building with Exterior
New
For Sale
$3,450,000
1221 Willow, Cookeville, TN 38501
Commercial Sale, Cookeville, TN
Property Size14,450 SF
Lot Size1.27 Acres
Price / SF$238.75
Days on Market1
Property Features for 1221 Willow
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CI
Accessibility
Accessible Approach with Ramp
Lot features
Landscaped
Directions
From I40 take Exit 286, south on Burgess Falls Rd, property on rt
Subdivision
Cookeville SW, TN
Standard status
Active
APN
065 102.11
Size
14,450 SF
Lot size
1.27 Acres
Additional Details
Property Use
Commercial
Taxes and HOA fees
Tax Annual Amount
22019
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
2
Building materials
Block, Brick
Roof type
Shingle
Listing Agency:
Highlands Elite Real Estate LLC
(931) 400-8820
Listed By:
Wayne Russell · License #333678
(931) 260-3743
Added: Nov 3
Last Checked: Nov 3 at 6:06PM
MLS# 248223
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.
This office property contains 14,450 square feet on a 1.27-acre parcel. Built in 1986, the building has block and brick construction, a shingle roof, central air conditioning, and electric central heating. A new roof and exterior improvements were completed in 2025. An accessible approach with a ramp is provided, and the property is served by public water.
The site is in Cookeville, just south of Home Depot and Target. CI zoning is reported for the property.
The site is in Cookeville, just south of Home Depot and Target. CI zoning is reported for the property.
Key Highlights
- 14,450 square feet of commercial space on 1.27 acres
- New roof and exterior improvements completed in 2025
- CI zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,058
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,521,160
$4.5M
Cap Rate 7%
$3,229,400
$3.2M
Cap Rate 9%
$2,511,756
$2.5M
Market Conditions
NOI Build-Up for 14,450 SF
Gross rent
$332.9K $23.04/SF
− Vacancy
−$10.0K −$0.69/SF
EGI
$322.9K $22.35/SF
− OpEx
−$96.9K −$6.70/SF
NOI
$226.1K $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 Rate 5%
$4,521,160
Cap Rate 7%
$3,229,400
Cap Rate 9%
$2,511,756
Alternative Uses
Best Use
Retail
$3.23M
$2.83M – $3.77M
NOI $226,058 @ 7.0% cap · market cap 6.55%
Second Best
Office B
$2.85M
$2.50M – $3.33M
NOI $199,757 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$5.96M
$5.22M – $6.96M
NOI $417,464 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
202
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The property combines central heating and cooling with ramp access and public water service.
Where is this office unit located?
The property is located at 1221 Willow Cookeville, TN.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: 14,450 square feet of commercial space on 1.27 acres; New roof and exterior improvements completed in 2025; CI zoning
