1957 Broad St Cookeville, TN 38501
This exceptional 6-acre development site, located at 1957 W Broad St in Cookeville, Tennessee (zip code 38501), presents a remarkable opportunity for multifamily development. Currently zoned CL, this property is fully entitled and ready for construction of an 88-unit multifamily complex. All city utilities, including sewer, are conveniently located on-site. The site enjoys a highly desirable location approximately 5 minutes west of downtown Cookeville, situated on West Broad Street – a major thoroughfare that connects to Highway 70, extending from Monterey to Lebanon. Cookeville is experiencing rapid growth, with significant development concentrated along this western corridor of Broad Street. This strategic positioning, coupled with the existing infrastructure and entitlements, makes this property an ideal investment for developers seeking to capitalize on Cookeville's booming multifamily market. The property's proximity to the rapidly developing city of Baxter further enhances its long-term potential. The asking price for this exceptional opportunity is $1,250,000.
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Southern Motel Apartment Complex
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
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.