Mobile Home and RV Park
New
For Sale
$795,500
401 412 Pippin Rd, Cookeville, TN 38501
Residential Income, Cookeville, TN
Property Size7,000 SF
Lot Size2.20 Acres
Price / SF$113.64
Days on Market2
Property Features for 401 412 Pippin Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Double Pane Windows, Single Pane Window(s)
Directions
From PCCH: West on Spring / Hwy 70 W, right on Pippin Rd, Mobile Home park will be on the right at 401.
Subdivision
Cookeville NW, TN
Standard status
Active
APN
039 141.00
Size
7,000 SF
Lot size
2.20 Acres
Taxes and HOA fees
Tax Annual Amount
562
Utilities
Sewer type
Septic Tank
Water source
Spring
Building Details
Number of units
13
Building materials
Metal Siding, Vinyl Siding
Roof type
Metal
Listing Agency:
Highlands Elite Real Estate LLC
(931) 400-8820
Listed By:
Julio Unzueta · License #323462
(931) 979-0141
Added: Sep 10
Last Checked: Sep 11 at 5:06PM
MLS# 247041
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.
This offering includes 401 and 412 Pippin Rd in Cookeville, with the properties available together or separately. At 401 Pippin Rd, the 2.2-acre site includes six mobile homes, one RV space, one tiny home, two rented lots, and one vacant site.
The 1.9-acre 412 Pippin Rd property contains a site-built home constructed in 1950 with approximately 910 square feet, along with a single-wide mobile home built in 1970 and measuring 12' x 60'. Improvements to the residence include a renovated HVAC system, updated windows, and a newer roof. The mobile home has renovated interior and exterior finishes. The properties use spring water and septic tanks, with metal and vinyl siding and metal roofing represented among the improvements.
The 1.9-acre 412 Pippin Rd property contains a site-built home constructed in 1950 with approximately 910 square feet, along with a single-wide mobile home built in 1970 and measuring 12' x 60'. Improvements to the residence include a renovated HVAC system, updated windows, and a newer roof. The mobile home has renovated interior and exterior finishes. The properties use spring water and septic tanks, with metal and vinyl siding and metal roofing represented among the improvements.
Key Highlights
- 401 Pippin Rd includes 2.2 acres with 6 mobile homes, 1 RV space, 1 tiny home, 2 rented lots, and 1 vacant site
- 412 Pippin Rd spans 1.9 acres and includes a site‑built home plus 1 single‑wide mobile home
- Site‑built residence constructed in 1950; approximately 910 square feet
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
$68,893
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
8.66%
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%
$1,377,860
$1.4M
Cap Rate 7%
$984,186
$984.2K
Cap Rate 9%
$765,478
$765.5K
Market Conditions
NOI Build-Up for 7,000 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
$134.4K $19.20/SF
− Vacancy
−$9.1K −$1.31/SF
EGI
$125.3K $17.89/SF
− OpEx
−$56.4K −$8.05/SF
NOI
$68.9K $9.84/SF
Area
Putnam County, TN
Vacancy
6.80%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,377,860
Cap Rate 7%
$984,186
Cap Rate 9%
$765,478
Alternative Uses
Best Use
Apartment 5plus
$984.2K
$861.2K – $1.15M
NOI $68,893 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,232 @ 7.0% cap · market cap 25.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
59
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 Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Two properties combine mobile homes, an RV space, rental lots, and a site-built residence.
Where is this mobile home & rv park located?
The property is located at 401 412 Pippin Rd Cookeville, TN.
What is the asking price?
The asking price for this property is $795,500.
What are key features of this property?
This property features: 401 Pippin Rd includes 2.2 acres with 6 mobile homes, 1 RV space, 1 tiny home, 2 rented lots, and 1 vacant site; 412 Pippin Rd spans 1.9 acres and includes a site‑built home plus 1 single‑wide mobile home; Site‑built residence constructed in 1950; approximately 910 square feet
