654 Blue Water Dr Cookeville, TN 38506
This exceptional 0.48-acre commercial land parcel is ideally situated in Cookeville, Tennessee, at 654 Blue Water Dr, zip code 38506. Located minutes from Cookeville city limits, Highway 111, and Interstate 40, this property offers convenient access to major transportation routes. The lot presents a unique opportunity for new development in a tranquil country setting. While utilities are not currently installed, they are readily available at the roadside. The property is subject to specific development guidelines, requiring all dwellings to feature at least 75% brick or stone exterior. Furthermore, garage entrances must face the side or rear of the home, unless a variance is granted by the developer. The developer retains final approval authority over all building plans. This location boasts low taxes and proximity to several attractions, including Tennessee Technological University, Cummings Falls State Park, Burgess Falls State Park, and Chestnut Hill Winery. This is an excellent opportunity to build in a desirable area of Putnam County. The asking price for this remarkable property is $37,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.