Flex Building with
For Sale
$529,000
340 Old Gainesboro Hwy, Cookeville, TN 38501
Commercial Sale, Cookeville, TN
Property Size3,840 SF
Lot Size0.79 Acres
Price / SF$137.76
Days on Market117
Property Features for 340 Old Gainesboro Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UNRES
Parking features
Paved or Surfaced
Directions
From Jackson County Courthouse: S Grundy Quarles Hwy for 8.8 miles onto Old Gainesboro Hwy (aka Gainesboro Grade). Turn left and property is 0.5 miles on the right. If coming from I-40 Baxter exit, go N on Hwy 56 (Grundy Quarles Hwy ) about 7 miles to Old Gainesboro Hwy. turn R and go 0.5 miles to property on the right.
Subdivision
Jackson Co SE, TN
Standard status
Active
APN
045.01
Size
3,840 SF
Lot size
0.79 Acres
Additional Details
Currently Operating
Yes
Property Use
Showroom/Warehouse
Taxes and HOA fees
Tax Annual Amount
1483
Utilities
Utilities
Natural Gas Available
Heating system
Electric (Heating), Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
Covered front porch
Building Details
Year built
2020
Floors in Building
1
Building materials
Frame, Stone, Metal Siding
Roof type
Metal
Buildings
1
Listing Agency:
Horseman Real Estate, Llc
Listed By:
Hannah Horseman · License #297619
(931) 644-6590
Added: Jul 10
Changed: Oct 26
Last Checked: Nov 3 at 6:06AM
MLS# 243811
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.
Constructed in 2020, this 3,840-square-foot flex building combines 760 square feet of office space with showroom and warehouse areas. The office portion includes central air and natural gas HVAC, while the structure features metal siding, a metal roof, and a covered front porch. An overhead garage door accommodates large delivery trucks, and the paved parking area supports customer and employee parking. Public water and natural gas are available.
The 0.788-acre parcel is located at 340 Old Gainesboro Hwy in Cookeville, near the Putnam County line in Jackson County. The property is designated UNRES, and the current operation is a family-owned flooring and carpet business. A recent survey provides updated boundary information.
The 0.788-acre parcel is located at 340 Old Gainesboro Hwy in Cookeville, near the Putnam County line in Jackson County. The property is designated UNRES, and the current operation is a family-owned flooring and carpet business. A recent survey provides updated boundary information.
Key Highlights
- 3,840‑square‑foot flex building completed in 2020
- 760 square feet of office space with showroom and warehouse areas
- 0.788‑acre parcel with a recent survey
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,611
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,220
$612.2K
Cap Rate 7%
$437,300
$437.3K
Cap Rate 9%
$340,122
$340.1K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$37.7K $9.81/SF
− Vacancy
−$1.7K −$0.43/SF
EGI
$36.0K $9.38/SF
− OpEx
−$5.4K −$1.41/SF
NOI
$30.6K $7.97/SF
Area
Putnam County, TN
Vacancy
4.40%
Lease Rate
$9.81 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,220
Cap Rate 7%
$437,300
Cap Rate 9%
$340,122
Alternative Uses
Best Use
Retail
$858.2K
$750.9K – $1.00M
NOI $60,074 @ 7.0% cap · market cap 11.36%
Second Best
Warehouse
$437.3K
$382.6K – $510.2K
NOI $30,611 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$1.58M
$1.39M – $1.85M
NOI $110,939 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
33
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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Unrestricted flex property with office, showroom, warehouse space, paved parking, and an overhead door for delivery access.
Where is this flex space located?
The property is located at 340 Old Gainesboro Hwy Cookeville, TN.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 3,840‑square‑foot flex building completed in 2020; 760 square feet of office space with showroom and warehouse areas; 0.788‑acre parcel with a recent survey
