Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    117 Hickory Ave Cookeville, TN 38501-2424

    • Commercial real estate
    • 30,064 SF
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2025
    Value Estimations
    $5,430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1221725
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Reliable Insurance Services TN / Insurance Agency
    • Dr. Anju Mendiratta, MD / Physician / Medical Clinic
    • Diabetes & Geriatrics Specialist: Sharma Pardeep K MD / Pediatrician / Physician
    • Cumberland Kidney & Diabetes Specialist / Physician
    • HiROC / Medical Clinic

    Property Details for 117 Hickory Ave

    Year built
    1928
    Lot size
    0.98 lot acres
    Property size
    30,064 SF
    Zone code
    C2
    Property type
    Commercial real estate
    APN
    071053B L 01000
    APU
    071053BL01000

    Description

    This exceptional Class A office building, completed in 2020, offers 27,800 square feet of space across three stories. Currently, 8,500 square feet of contiguous space is available for lease on the third floor. The building boasts modern and contemporary design, ideal for a variety of office uses, including traditional office, executive suites, coworking spaces, medical offices, and creative office environments. The Hickory Center is strategically located in the heart of Cookeville, Tennessee, at 117 N Hickory Ave, 38501, providing excellent highway visibility and convenient access. Its central location offers proximity to Cookeville Regional Medical Center, Tennessee Tech University, and the historic downtown area. The building features elevators for easy access to all floors and caters to the needs of the modern workforce. This premium property presents a unique opportunity for businesses seeking a high-quality, well-located office space in a thriving community. The available space is perfect for a single tenant seeking a large footprint or multiple tenants seeking smaller, customizable spaces. Don't miss this chance to secure your business's future in this prime Cookeville location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,075,000
      6.5%
      $4,685,000
      7%
      $4,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,548,000
      Market price range: $1.96M - $6.55M
      AI Estimate
      $5,061,000
      Market price range: $1.36M - $5.06M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,970,000
      Current use
      RETAIL STORES
      $3,505,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.5097
    Latitude
    36.166
    CBSA code
    18260
    CBSA name
    COOKEVILLE, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $58,026
    $86,800
    $1,675,840
    $1,762,640
    -
    $217,000
    $4,189,600
    $4,406,600

    Comparable in this City

    • Value Estimation by Request
      1.60 Acres

      470 Buck Ave

      COMMERCIAL (GENERAL) • 1.60 Acres
      470 Buck Ave, Cookeville, TN 38501
      View Details
    • Value Estimation by Request
      0.78 Acres

      460 Buck Ave

      COMMERCIAL (GENERAL) • 0.78 Acres
      460 Buck Ave, Cookeville, TN 38501
      View Details
    • Value Estimation by Request
      0.39 Acres

      65 Reagan St

      COMMERCIAL (GENERAL) • 0.39 Acres
      65 Reagan St, Cookeville, TN 38501
      View Details
    • Value Estimation by Request
      0.19 Acres

      230 3rd St

      COMMERCIAL (GENERAL) • 0.19 Acres
      230 3rd St, Cookeville, TN 38501
      View Details
    • Value Estimation by Request
      0.03 Acres

      8th St

      COMMERCIAL (GENERAL) • 0.03 Acres
      8th St, Cookeville, TN 38501
      View Details
    • Value Estimation by Request
      0.19 Acres

      669 Broad St

      COMMERCIAL (GENERAL) • 0.19 Acres
      669 Broad St, Cookeville, TN 38501-2208
      View Details

    Similar Nearby for Sale

    • $1,500,000
      19.53 Acres

      540 Neal Street

      Mixed-use properties • 19.53 Acres
      540 Neal St, Cookeville, TN 38501
      View Details
    • $2,290,000
      4.50 Acres

      Cookeville Commercial Land - Prime Location

      4.5-Acre Commercial Lot, High Traffic Area
      969 Willow Ave, Cookeville, TN 38501
      View Details
    • Contact for pricing
      61.30 Acres

      Cookeville Industrial Land - 61.3 Acres

      Prime I-40 Commercial/Industrial Land
      0 Tennessee Ave, Cookeville, TN 38501
      View Details
    • Contact for pricing
      25.00 Acres

      Cookeville Commercial Land - 25 Acres

      Prime 25-acre commercial lot in Cookeville, TN.
      999 Willow Ave, Cookeville, TN 38501
      View Details
    • $14,999,900
      45.42 Acres

      Cookeville Commercial Land - 45 Acres

      Prime Cookeville development land, dual zoning, I-40 access.
      991 Walnut Ave, Cookeville, TN 38501
      View Details
    • Contact for pricing
      52.40 Acres

      I-40 Commercial Land, Cookeville TN

      52.4 Acres, I-40 Frontage, Build-to-Suit
      0 Holladay Rd, Cookeville, TN 38501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Cookeville Industrial Warehouse

      30,000 SF Warehouse - New Construction
      45 C C Camp Rd, Cookeville, TN 38501
      View Details
    • $17 SF/Yr
      2,520 SF

      Retail Space Near Walmart

      2,520 SF retail space with high visibility and traffic.
      770 S Jefferson Ave, Cookeville, TN 38501
      View Details
    • $900 /Mo
      600 SF

      Cookeville Office/Studio Space For Rent

      Versatile office or studio space in downtown Cookeville.
      410 E Spring St, Cookeville, TN 38501
      View Details
    • $3,500 /Mo
      2,200 SF

      Remodeled Retail Space, High Visibility

      Newly remodeled retail space in high-traffic Cookeville area.
      303 N Willow Ave, Cookeville, TN 38501
      View Details
    • $12,900 /Mo
      16,117 SF

      Medical/Office Space Near CRMC

      Prime medical/office space near Cookeville Regional Medical Center.
      221 N Oak Ave, Cookeville, TN 38501
      View Details
    • Contact for pricing

      Commercial Land Near University

      Commercial land for rent near university and signalized intersection.
      1545 E 10Th St, Cookeville, TN 38501
      View Details
    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.
    117 Hickory Ave
    Cookeville, TN 38501-2424
    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

    Google sign-in failed. Please try again or use another login method.