Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land in Cookeville, TN Title is generated by Realmo AI

    540 Neal Street, Cookeville, TN 38501

    View on Map
    Claim this Listing
    New
    For Sale
    $1,275,000

    LAND - Cookeville, TN

    Lot size:
    3.70 Acres
    Added:
    May 29, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 2 at 1:06 am

    Property Features for 540 Neal Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    017.00 P/O
    Lot size
    3.70 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Sarah Caldwell-Davis

    Listing agent Sarah Caldwell-Davis License #243281

    Listing office American Way Real Estate 710 S Jefferson Ave., Cookeville, TN

    Listing date May 29, 2026

    MLS# 244732 Listing URL

    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 commercial outparcel in a fast‑growing commercial corridor
    • High traffic counts: 16,000 vehicles per day on‑site, 41,000 vehicles per day near Exit 287
    • Excellent visibility and accessibility to local and interstate traffic
    • Zoned CG (Commercial General) allowing for diverse development opportunities
    • Utilities available: Natural Gas, Public Water, and Public Sewer
    • Located one‑half mile from Exit 287

    Overview

    This 3.7-acre commercial outparcel is located in a rapidly growing commercial area of Cookeville. The property benefits from high visibility and accessibility, with approximately 16,000 vehicles per day passing by. Situated within half a mile of Exit 287, the location experiences traffic counts exceeding 41,000 vehicles per day. Zoned CG (Commercial General), the site allows for a wide range of development opportunities. Permitted uses include medical offices, professional offices, law firms, childcare facilities, automobile service businesses, retail spaces, restaurants, mixed-use developments, and multifamily residential projects. The location offers significant exposure to both local and interstate traffic. The property is part of a larger 19.53-acre tract being offered for the first time. Taxes are To Be Determined.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.4906939
    Latitude
    36.1389562

    Nearby Similar for Sale

    • $559,000
      3,840 SF

      Cookeville Showroom/Warehouse on High-Traffic Highway

      3,840 SF showroom/warehouse on 0.788 acres in high-growth area.
      340 Old Gainesboro Hwy, Cookeville, TN 38501
      View Details
    • $995,000
      5,864 SF

      Cookeville Commercial Property For Sale

      Single-story commercial property in Cookeville with high visibility and traffic.
      1150 Chocolate Dr., Cookeville, TN 38506
      View Details
    • $549,900
      2,400 SF

      Turnkey Commercial Opportunity on Hwy 70

      2400 sqft shop on 0.69 acres with highway frontage.
      2330 W Broad St, Cookeville, TN 38501
      View Details
    • $379,900
      3,200 SF

      Versatile Commercial Building in Cookeville

      Multi-use building with office and warehouse space, move-in ready.
      4624 W Broad Street, Cookeville, TN 38501
      View Details
    • $370,000
      3,200 SF

      Restaurant Building on 1.24 Acres

      Operating restaurant with modern amenities on 1.24 acres.
      210 Tommy Dodson Highway, Cookeville, TN 38506
      View Details
    • $2,249,000
      8,407 SF

      Grand Colonial Revival Estate

      Late 20th-century estate on 40 unrestricted acres.
      6211 Rocky Point Rd, Cookeville, TN 38506
      View Details
    • $499,998
      4,380 SF

      High-Visibility Commercial Building on Fisk Rd

      4380 sqft commercial building with high visibility and accessibility.
      2355 Fisk Rd, Cookeville, TN 38506
      View Details
    • $1,500,000
      3,657 SF

      Commercial Building Near I-40 Exit

      Commercial building in high-traffic area, close to I-40.
      820 S Jefferson Avenue, Cookeville, TN 38501
      View Details
    • $1,499,000
      8,946 SF

      Prime Commercial Property, Cookeville, TN

      Excellent investment opportunity in Cookeville with high traffic and visibility.
      1470 S Jefferson Ave, Cookeville, TN 38501
      View Details
    • $995,000
      3,600 SF

      Commercial Property on Highway 111

      Highly visible commercial property with a 3,600 sq ft building.
      105 Rickman Monterey Hwy, Cookeville, TN 38506
      View Details
    • $2,895,000
      38,152 SF

      Prime Commercial Site in Cookeville

      High-visibility commercial site with redevelopment potential in growing area.
      1115 S Willow Ave, Cookeville, TN 38501
      View Details
    • $335,000
      700 SF

      Cookeville Office/Retail Building For Sale

      Appointed office/retail building with 700+/- sf of improved space.
      220 W 3rd Street, Cookeville, TN 38501
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime 3.7-acre commercial outparcel in a high-growth area.
    Where is this commercial land located?
    The property is located at 540 Neal Street Cookeville, TN.
    What is the asking price?
    The asking price for this property is $1,275,000.
    What are key features of this property?
    This property features: Prime commercial outparcel in a fast‑growing commercial corridor; High traffic counts: 16,000 vehicles per day on‑site, 41,000 vehicles per day near Exit 287; Excellent visibility and accessibility to local and interstate traffic
    (931) 252-2949
    We can help!
    Listing Contact
    Sarah Caldwell-Davis
    Real Estate License ID: 243281
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    540 Neal Street, Cookeville, TN 38501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!