Restaurant with Screened
New
For Sale
$799,998
2331 W Broad St, Cookeville, TN 38501
Commercial Sale, Cookeville, TN
Property Size4,263 SF
Lot Size1.33 Acres
Price / SF$187.66
Days on Market2
Property Features for 2331 W Broad St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Assigned
Directions
From PCCH: go W on W Spring St, go straight to merge on US-70N W / W Broad St, business will be on your R! No real estate sign.
Subdivision
Cookeville NW, TN
Standard status
Active
APN
091.00
Size
4,263 SF
Lot size
1.33 Acres
Taxes and HOA fees
Tax Annual Amount
3140
Utilities
Utilities
Natural Gas Available
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Spring, Public
Amenities
screened-in back porch
Building Details
Year built
1975
Floors in Building
1
Building materials
Frame, Metal Siding
Roof type
Metal
Listing Agency:
Elevate Real Estate
(931) 520-6450
Listed By:
Elijah Castelli · License #302586
(931) 283-2312
Added: Sep 23
Last Checked: Sep 24 at 6:06AM
MLS# 247352
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.
Investment Insights
Based on property information with market context.
Established restaurant operation occupying a 4,263-square-foot building on 1.33 acres in Cookeville. The interior accommodates up to 104 guests, with a screened-in back porch providing additional customer seating. Improvements made during approximately three years of ownership include a new roof, new AC system, and new electrical system. The building dates to 1975 and features frame construction with metal siding, central heating and cooling, a metal roof, and assigned parking.
The property fronts Hwy 70 in a high-traffic setting with more than 8,000 vehicles passing daily. It is approximately 8 minutes from Baxter, 10 minutes from Downtown Cookeville, and a little over an hour from BNA. Commercial zoning and natural gas availability support the existing restaurant use.
The property fronts Hwy 70 in a high-traffic setting with more than 8,000 vehicles passing daily. It is approximately 8 minutes from Baxter, 10 minutes from Downtown Cookeville, and a little over an hour from BNA. Commercial zoning and natural gas availability support the existing restaurant use.
Key Highlights
- 4,263‑square‑foot restaurant building on 1.33 acres
- Dining area accommodates up to 104 guests
- Screened‑in back porch adds customer seating
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
$70,571
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
8.82%
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%
$1,411,420
$1.4M
Cap Rate 7%
$1,008,157
$1.0M
Cap Rate 9%
$784,122
$784.1K
Market Conditions
NOI Build-Up for 4,263 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
$98.2K $23.04/SF
− Vacancy
−$4.1K −$0.97/SF
EGI
$94.1K $22.07/SF
− OpEx
−$23.5K −$5.52/SF
NOI
$70.6K $16.55/SF
Area
Putnam County, TN
Vacancy
4.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,411,420
Cap Rate 7%
$1,008,157
Cap Rate 9%
$784,122
Alternative Uses
Best Use
Specialty Retail
$1.01M
$882.1K – $1.18M
NOI $70,571 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,159 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
8,675 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established dining operation on a commercially zoned site with highway exposure and guest space for gatherings.
Where is this conventional restaurant located?
The property is located at 2331 W Broad St Cookeville, TN.
What is the asking price?
The asking price for this property is $799,998.
What are key features of this property?
This property features: 4,263‑square‑foot restaurant building on 1.33 acres; Dining area accommodates up to 104 guests; Screened‑in back porch adds customer seating
