Three-Level Medical-Retail Office
404 N Willow Avenue Cookeville, TN 38501
For Sale
$1,750,000
SINGLE_FAMILY - Cookeville, TN
Property Size7,740 SF
Lot Size0.21 Acres
Price / SF$226.10
Days on Market28
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
- Fireplace(s), Central, Natural Gas
- 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
- Rubber, Flat
Listing Agency:
Highlands Elite Real Estate LLC
(931) 400-8820
Listed By:
Wayne Russell · License #333678
(931) 260-3743
Added: Jun 29
Changed: Jul 25
Last Checked: Jul 26 at 4:06PM
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.
Investment Insights
Based on property information with market context.
Nicely appointed three-level complex constructed in 2017 and updated and reconfigured in 2023. The property offers flexible configuration, with security-coded elevator access to each level. The primary and second levels are primarily retail/office space, while the third floor features a well-laid-out, fully furnished apartment.
The building is located at the intersection of North Willow Avenue and West 4th Street in Cookeville, Putnam County, within a highly trafficked retail and medical corridor. The listing notes proximity to Cookeville Regional Medical Center (less than 500 feet) and Tennessee Technological University (approximately 1,500 feet). The reported AADT at the corner of North Willow Avenue and West 4th Street exceeds 21,000 vehicles per day.
Zoned Local Commercial (CL), the property allows an owner the option to occupy all or part of the building while leasing the remaining space.
The building is located at the intersection of North Willow Avenue and West 4th Street in Cookeville, Putnam County, within a highly trafficked retail and medical corridor. The listing notes proximity to Cookeville Regional Medical Center (less than 500 feet) and Tennessee Technological University (approximately 1,500 feet). The reported AADT at the corner of North Willow Avenue and West 4th Street exceeds 21,000 vehicles per day.
Zoned Local Commercial (CL), the property allows an owner the option to occupy all or part of the building while leasing the remaining space.
Key Highlights
- 2017‑built, three‑level medical/retail/office/apartment complex at the intersection of N Willow Ave and W 4th St in Cookeville, TN
- Less than 500 ft from Cookeville Regional Medical Center (CRMC) campus and about 1,500 ft from Tennessee Technological University (TTU)
- Extensively updated and reconfigured in 2023 with flexible configuration to owner‑occupy and lease remaining space
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 6.92%
Second Best
Office B
$1.53M
$1.34M – $1.78M
NOI $106,998 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$3.19M
$2.80M – $3.73M
NOI $223,610 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
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
FAQs
What type of property is this?
Office building - Three-level complex with secure elevator access, primarily retail/office space on two levels, plus a furnished apartment on the third.
Where is this office building located?
The property is located at 404 N Willow Avenue Cookeville, TN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 2017‑built, three‑level medical/retail/office/apartment complex at the intersection of N Willow Ave and W 4th St in Cookeville, TN; Less than 500 ft from Cookeville Regional Medical Center (CRMC) campus and about 1,500 ft from Tennessee Technological University (TTU); Extensively updated and reconfigured in 2023 with flexible configuration to owner‑occupy and lease remaining space
