Custom Estate Residence with
For Sale
$2,249,000
6211 Rocky Point Rd, Cookeville, TN 38506
COMMERCIAL - Cookeville, TN
Property Size8,407 SF
Lot Size40.00 Acres
Price / SF$267.52
Days on Market96
Property Features for 6211 Rocky Point Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Fireplace
1
Basement
Unfinished
Lot features
Landscaped
Directions
From PCCH: E on US-70N E, L on Poplar Grove Rd, R on Rocky Point Rd, property on R with sign.
Subdivision
Putnam Co SE, TN
Standard status
Active
APN
067.00
Size
8,407 SF
Lot size
40.00 Acres
Taxes and HOA fees
Tax Annual Amount
3888
Utilities
Heating system
Central, Fireplace(s)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
4
Building materials
Frame, Brick
Roof type
Shingle, Composition
Listing Agency:
Provision Realty Group
(931) 201-9847
Listed By:
Sabrina Brazle · License #345676
(931) 319-3812
Added: May 6
Changed: Aug 5
Last Checked: Aug 9 at 9:06PM
MLS# 241637
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.
A distinctive custom estate residence inspired by Colonial Revival architecture, featuring Georgian detailing, classical dentil molding, stately columns, and turret elements. The home includes hardwood flooring, intricate trimwork, and eight wood-burning fireplaces. Approximate measurements indicate about 8,407 finished square feet, plus an additional roughly 9,253 square feet of partially finished and unfinished space.
The property sits on 40 unrestricted acres at 6211 Rocky Point Rd in Cookeville, TN (Putnam County). The West Wing is fully framed, wired, and ready for expansion, offering room to continue the build-out and customization of the additional interior space.
For buyers seeking a substantial estate with meaningful on-site expansion capacity, the combination of finished areas, partially finished/unfinished square footage, and a prepared West Wing provides a clear path for further development.
The property sits on 40 unrestricted acres at 6211 Rocky Point Rd in Cookeville, TN (Putnam County). The West Wing is fully framed, wired, and ready for expansion, offering room to continue the build-out and customization of the additional interior space.
For buyers seeking a substantial estate with meaningful on-site expansion capacity, the combination of finished areas, partially finished/unfinished square footage, and a prepared West Wing provides a clear path for further development.
Key Highlights
- 40 acres (unrestricted) featuring a custom estate residence with approx. 8,407 finished sqft
- Additional approx. 9,253 sqft partially finished/unfinished space, offering room for expansion or customization
- Home built in 1981 with frame and brick construction
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
$82,741
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
3.68%
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%
$1,654,820
$1.7M
Cap Rate 7%
$1,182,014
$1.2M
Cap Rate 9%
$919,344
$919.3K
Market Conditions
NOI Build-Up for 8,407 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
$161.4K $19.20/SF
− Vacancy
−$11.0K −$1.31/SF
EGI
$150.4K $17.89/SF
− OpEx
−$67.7K −$8.05/SF
NOI
$82.7K $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%
$1,654,820
Cap Rate 7%
$1,182,014
Cap Rate 9%
$919,344
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,741 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $242,880 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 38506, TN
29,976
Population
13,018
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
90%
High-School Grad
164.3 sq mi
ZIP Area
182
Density / Sq Mi
$63,051
Median Household Income
$37,589
Median Earnings
$1,032
Median Rent
$256,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Colonial Revival estate on 40 unrestricted acres with finished living space and partially unfinished areas for further build-out.
Where is this single family property located?
The property is located at 6211 Rocky Point Rd Cookeville, TN.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: 40 acres (unrestricted) featuring a custom estate residence with approx. 8,407 finished sqft; Additional approx. 9,253 sqft partially finished/unfinished space, offering room for expansion or customization; Home built in 1981 with frame and brick construction
