230 Wall St Cookeville, TN 38506-5249

Property Details for 230 Wall St

Year built

1950

Construction

FRAME

Lot size

2.67 lot acres

Property size

24,694 SF

Property type

Manufacturing properties

APN

071026N J 00500

APU

071026NJ00500

Description

This exceptional 32,500-square-foot manufacturing facility in Cookeville, Tennessee, presents a compelling net lease investment opportunity. Located on a 3.29-acre lot at 230 E Wall St, this property boasts a strong 7.41% cap rate and is currently under a NN+ lease with Transfer Flow, a tenant with a proven track record. The lease has 4.4 years remaining, featuring 2% annual rent increases and two 3-year renewal options. Built in 1950 and extensively renovated in 2022, the building is in excellent condition and features four grade-level doors and one dock door, ensuring efficient operations. The property benefits from a highly desirable location near Highway 111, providing easy access to both Nashville and Knoxville. Putnam County's industrial vacancy rate is exceptionally low, approximately 1.5%, indicating robust demand. The surrounding area shows strong demographics, with projected population growth and over $456.9 million in consumer spending within a 5-mile radius. The landlord is responsible for roof, HVAC, and structural maintenance, minimizing operational responsibilities. The asking price is $2,350,000, translating to $76.46 per square foot. This is a rare opportunity to acquire a high-quality, passively managed industrial asset in a thriving market.

Location Insight

City

Cookeville

County

Putnam

State

Tennessee

Longitude

-85.4428

Latitude

36.1954

CBSA code

18260

CBSA name

COOKEVILLE, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments