Medical/Retail/Office/Apartment Property For
404 N Willow Avenue, Cookeville, TN 38501
New
SINGLE_FAMILY - Cookeville, TN
Type:Office
Property size:
7,740 SFLot size:
0.21 AcresPrice / SF:
$258/SF- Added:
- May 31, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 1 at 6:06 pm
Property Features for 404 N Willow Avenue
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- CL
- Security features
- Security System
- Window features
- Window Coverings
- Fireplace
- 1
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- APN
- 001.00
- Size
- 7,740 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Annual Amount
- 15006
Utilities
- Utilities
- Electricity Available
- Heating system
- Natural Gas, Central, Fireplace(s)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2017
- Floors in Building
- 3
- Number of units
- 3
- Building materials
- Frame, Brick
- Roof type
- Flat, Rubber
Listing agent Wayne Russell (931) 260-3743
Listing office Highlands Elite Real Estate LLC 1519 E Spring Street A, Cookeville, TN (931) 400-8820
Listing date May 31, 2026
MLS# 244755
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.
HighLights
- Prime location in a high‑traffic retail and medical corridor near Cookeville Regional Medical Center (CRMC) and Tennessee Technological University (TTU).
- Flexible three‑level complex suitable for medical, retail, office, or apartment use, allowing owner occupancy and leasing potential.
- Extensively updated and reconfigured in 2023.
- Includes a fully furnished, tastefully decorated apartment on the third floor.
- Security‑coded elevator access to each level.
- High visibility with an AADT exceeding 21,000 vehicles per day.
Overview
Located at the intersection of North Willow Avenue and West 4th Street in Cookeville, Putnam County, TN, this property is situated in a highly trafficked retail and medical corridor. It is less than 500 feet from the Cookeville Regional Medical Center (CRMC) campus and approximately 1,500 feet from Tennessee Technological University (TTU). Constructed in 2017 and extensively updated and reconfigured in 2023, the three-level complex offers flexible configuration, allowing an owner to occupy all or part of the property while leasing the balance. The property has a total size of 7,740 square feet and sits on a lot of 0.2129 acres. Each level has security-coded elevator access. The primary and second levels are primarily retail/office space, and the third floor contains a well-laid-out, tastefully decorated, fully furnished apartment. The zoning designation is Local Commercial (CL). The average annual daily traffic (AADT) at the corner of North Willow Avenue and West 4th Street exceeds 21,000 vehicles per day. This property is suitable for medical, retail, office, or apartment use.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $178.3k | $23.04 |
| − Vacancy | −$5.3k | −$0.69 |
| EGI | $173.0k | $22.35 |
| − OpEx | −$51.9k | −$6.70 |
| NOI | $121.1k | $15.64 |
7,740 SF · lease $23.04/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.73M
$1.51M – $2.02M
NOI $121,086 @ 7.0% cap · market cap 6.05%
Second Best
Office B
$1.53M
$1.34M – $1.78M
NOI $106,998 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$3.19M
$2.80M – $3.73M
NOI $223,610 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Dr. Thomas Gannon, ...
Physician
Thomas Milton Gannon
Physician
Birth Tissue Donor ...
Corporate Office
Seeds Maternity by ...
Clothing & Fashion Store
MotusX Physical Therapy ...
Medical Clinic
Similar Places Nearby
- Flatt Vet Clinic — Cookeville, TN 38501
Location Insight
- Map
- Local Demand
- City
- Cookeville
- County
- Putnam
- State
- Tennessee
- Longitude
- -85.5126431
- Latitude
- 36.1689919
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Three-level complex with flexible configuration in high-traffic location.
Where is this medical office space located?
The property is located at 404 N Willow Avenue Cookeville, TN.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: Prime location in a high‑traffic retail and medical corridor near Cookeville Regional Medical Center (CRMC) and Tennessee Technological University (TTU).; Flexible three‑level complex suitable for medical, retail, office, or apartment use, allowing owner occupancy and leasing potential.; Extensively updated and reconfigured in 2023.
