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Property profile & analytics
OFF-MARKET
Estimated value
$1,925,000
Office Spaces
1221 Willow Ave Cookeville, TN 38506-4107
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-1070481
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1986
Construction
CONCRETE
Total area
9,960 SF
Lot
1.27 ac (55,321 SF)
APN
071065 10211
UPID
US80-1070481
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
TDEC - Cookeville Environmental Field Office State Government Office
-
AMP, Inc. State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.97M
CAP Approach
CAP
$1.55M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.93M
Owner & transaction history
Billy Madison Ltd LLC · 3 yrs held
Billy Madison Ltd LLC
since 2023
Last sale
$1.9M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+18.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cookeville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cookeville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,595,000
ML approach
$1,965,000
CAP Approach
CAP Return
Estimation
6%
$1,680,000
6.5%
$1,550,000
7%
$1,440,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,200,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.73M – $2.12M · ±10% · vs last sale $1.90M (Apr 13 2023)
Last sale anchor
$1.90M
Apr 13 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$193 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$15,325
Tax year 2022
Assessed value
$603,280
Assessed 2023
Previous assessed
$465,520
+29.6% YoY
Effective rate
2.54%
On assessed value
Assessed land
$88,400
Assessed improvement
$514,880
Land market value
$221,000
Improvement market value
$1,287,200
Total market value
$1,508,200
Applied tax rate
71.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
YES
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
1
Bathrooms
8
Total area
9,960 SF
Lot
1.27 ac (55,321 SF)
APN
071065 10211
UPID
US80-1070481
Jurisdiction
PUTNAM
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.2M
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Units
1
Bathrooms
8
Lot
1.27 ac
Current owner
From public records · entity-resolved
Billy Madison Ltd LLC
Entity
Free & Clear · 3 yrs held
Mailing address
324 NASH AVE, COOKEVILLE, TN 38501-3693
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2023
$1,900,000
Billy Madison Ltd LLC
Mike Callahan
Warranty Deed
—
Sep 20, 2022
—
State Of Tennessee
Mike Callahan
Correction Deed
related
—
Jan 3, 2012
—
Barry Clouse
—
Trustees Deed
related
$250,000 · Bank Of Putnam County
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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