United Rentals Flex
For Sale
Contact for pricing
1830 Foreman Drive, Cookeville, TN 38501
United Rentals investment property with long-term lease history and flex/warehouse space off Interstate 40.
Property Size6,600 SF
Price / SF$215
Days on Market145
Property Features for 1830 Foreman Drive
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Retail, Industrial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$78,046
Building Details
Year Built
2001
Buildings
1
Tenancy
Single
Listing Agency:
NX3 Commercial Group
Listed By:
Joshua Symonette · License #FL SL3361739
Source:
Crexi
Added: Jun 12
Changed: Oct 26
Last Checked: Nov 1 at 4:15AM
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 NX3 Commercial Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex/warehouse property is offered for sale as a single-tenant investment with an established operating history. The site has supported over 24 years of United Rentals operations, and the lease was recently extended by an additional five years, reflecting tenant longevity at the location. The building provides flex and warehouse space totaling approximately 6,600 square feet.
The property is positioned along Interstate 40 between Nashville and Knoxville, placing it on one of Tennessee’s primary transportation and commercial corridors. The surrounding area includes a recently announced retail development, “The Willows,” totaling approximately 148,000 square feet and anchored by Target and Home Depot.
For prospective investors, the offering combines a corporate equipment rental tenant with demonstrated site continuity through the extended lease term. The property’s mix of flex and warehouse space supports the operational needs of an established industrial services user, while its corridor access can be advantageous for distribution and service-oriented activity tied to the I-40 market.
The property is positioned along Interstate 40 between Nashville and Knoxville, placing it on one of Tennessee’s primary transportation and commercial corridors. The surrounding area includes a recently announced retail development, “The Willows,” totaling approximately 148,000 square feet and anchored by Target and Home Depot.
For prospective investors, the offering combines a corporate equipment rental tenant with demonstrated site continuity through the extended lease term. The property’s mix of flex and warehouse space supports the operational needs of an established industrial services user, while its corridor access can be advantageous for distribution and service-oriented activity tied to the I-40 market.
Key Highlights
- Year built 2001
- United Rentals (NYSE: URI) investment property with recently exercised 5‑year lease extension
- Over 24 years of operating history at the site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,328
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,560
$866.6K
Cap Rate 7%
$618,971
$619.0K
Cap Rate 9%
$481,422
$481.4K
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$64.7K $9.81/SF
− Vacancy
−$2.8K −$0.43/SF
EGI
$61.9K $9.38/SF
− OpEx
−$18.6K −$2.81/SF
NOI
$43.3K $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%
$866,560
Cap Rate 7%
$618,971
Cap Rate 9%
$481,422
Alternative Uses
Best Use
Industrial
$619.0K
$541.6K – $722.1K
NOI $43,328 @ 7.0% cap · market cap 3.05%
Second Best
Flex RnD
$569.9K
$498.7K – $664.9K
NOI $39,892 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,676 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Balanced
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
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Hardwoods Smokehouse, LLC — 851-A S Willow Ave, Cookeville, TN 38501
Frequently Asked Questions
What type of property is this?
Flex space - United Rentals investment property with long-term lease history and flex/warehouse space off Interstate 40.
Where is this flex space located?
The property is located at 1830 Foreman Drive Cookeville, TN.
What is the asking price?
The asking price for this property is $1,419,015.
What are key features of this property?
This property features: Year built 2001; United Rentals (NYSE: URI) investment property with recently exercised 5‑year lease extension; Over 24 years of operating history at the site
