Flex Space with Three Bay
New
For Sale
$1,700,000
1470 S Jefferson Ave, Cookeville, TN 38501
General Commercial zoning, multiple utility services, and established access support a range of commercial operating possibilities.
Property Size8,946 SF
Lot Size2.79 Acres
Days on Market5
Property Features for 1470 S Jefferson Ave
General Information
Standard status
Active
Size
8,946 SF
Lot size
2.79 Acres
Property subtype
Commercial
Zoning
General Commercial
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$3,528
Building Details
Building Size
8,946 SF
Year Built
1950
Stories
1
Listing Agency:
The Real Estate Collective
(931) 510-5106
Listed By:
Marlen Weaver · License #356095
(931) 510-5106
Source:
Firstrealty
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 10 at 11:52AM
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 The Real Estate Collective
Investment Insights
Based on property information with market context.
This 2.79-acre commercial property includes an existing flex-space improvement with a mule hide roof and 3 bay doors. Electric, water, gas, and equipment were inspected in Oct 2024; identified repairs were completed, and the inspected items were reported in appropriate working condition. The property is offered AS IS/WHERE IS.
Located at 1470 S Jefferson Ave in Cookeville, the site is approximately 2 miles from Interstate 40 and 1.5 miles from Hwy. 111. S Jefferson Ave. currently carries approximately 20,000 cars per day and is being widened to a 5-lane road. Entrances on the north side connect to a private drive that has been used for over 40 years. General Commercial zoning supports uses identified in the property information, including storage units, rental properties, medical or dental operations, restaurants, and boat dealerships.
Located at 1470 S Jefferson Ave in Cookeville, the site is approximately 2 miles from Interstate 40 and 1.5 miles from Hwy. 111. S Jefferson Ave. currently carries approximately 20,000 cars per day and is being widened to a 5-lane road. Entrances on the north side connect to a private drive that has been used for over 40 years. General Commercial zoning supports uses identified in the property information, including storage units, rental properties, medical or dental operations, restaurants, and boat dealerships.
Key Highlights
- 2.79‑acre property zoned General Commercial
- Existing flex‑space improvement with 3 bay doors and a mule hide roof
- Electric, water, gas, and equipment inspected in Oct 2024
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
$58,729
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
3.45%
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%
$1,174,580
$1.2M
Cap Rate 7%
$838,986
$839.0K
Cap Rate 9%
$652,544
$652.5K
Market Conditions
NOI Build-Up for 8,946 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
$87.8K $9.81/SF
− Vacancy
−$3.9K −$0.43/SF
EGI
$83.9K $9.38/SF
− OpEx
−$25.2K −$2.81/SF
NOI
$58.7K $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 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%
$1,174,580
Cap Rate 7%
$838,986
Cap Rate 9%
$652,544
Alternative Uses
Best Use
Industrial
$839.0K
$734.1K – $978.8K
NOI $58,729 @ 7.0% cap · market cap 3.45%
Second Best
Flex RnD
$772.5K
$675.9K – $901.2K
NOI $54,072 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,452 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - General Commercial zoning, multiple utility services, and established access support a range of commercial operating possibilities.
Where is this flex space located?
The property is located at 1470 S Jefferson Ave Cookeville, TN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 2.79‑acre property zoned General Commercial; Existing flex‑space improvement with 3 bay doors and a mule hide roof; Electric, water, gas, and equipment inspected in Oct 2024
