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Property profile & analytics
OFF-MARKET
Estimated value
$2,455,000
Medical Office Space
228 4th St Cookeville, TN 38501-2488
Entity Owned
9-yr Hold
Free & Clear
Property ID
US80-0337012
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,984 SF
Lot
1.09 ac (47,480 SF)
Zoning code
CM
APN
071053B M 00100
UPID
US80-0337012
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
-
Jennifer L. Mabry, FNP Physician
-
Donnalita Harmon Physician
-
Dr. Thomas Little, MD Physician
-
MICHAEL B. LENHART, MD FACC Physician
-
William Wassynger, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.40M
Blend (final)
Blend
$2.46M
Owner & transaction history
Tennessee Heart Realty LLC · 9 yrs held
Tennessee Heart Realty LLC
since 2016
7 recorded transactions
Zoning & alternative use
CM · Cookeville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.6M
+15.8%
Commercial (general)
$2.5M
+13.0%
Restaurant
$2.4M
+5.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,230,000
Current use
RETAIL STORES
$2,580,000
Change: +16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,520,000
Change: +13% · Conversion: Easy
RESTAURANT
$2,355,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,135,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$2.46M
Range $2.21M – $2.70M · ±10%
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
$102 / 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
$53,327
Tax year 2022
Assessed value
$1,495,800
Assessed 2023
Previous assessed
$1,619,920
-7.7% YoY
Effective rate
3.57%
On assessed value
Assessed land
$189,480
Assessed improvement
$1,306,320
Land market value
$473,700
Improvement market value
$3,265,800
Total market value
$3,739,500
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
Similar Nearby for Lease
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
10
Total area
23,984 SF
Lot
1.09 ac (47,480 SF)
Zoning code
CM
APN
071053B M 00100
UPID
US80-0337012
Jurisdiction
PUTNAM
Zoning & alternative use
CM · Cookeville, TN
Zoning CM · permitted uses
CM · Cookeville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cookeville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Bathrooms
10
Lot
1.09 ac
Current owner
From public records · entity-resolved
Tennessee Heart Realty LLC
Entity
Free & Clear · 9 yrs held
Mailing address
228 W 4TH ST STE #200, COOKEVILLE, TN 38501-2489
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2017
—
Tennessee Heart Realty LLC
—
Deed
related
$52,246 · No Lender
Oct 19, 2016
$30,440
Tennessee Heart Realty LLC
City Of Cookeville
Quit Claim Deed
related
—
Mar 26, 2010
—
Tennessee Heart Realty LLC
—
Trustees Deed
related
$367,310 · First Tennessee Bank National
Feb 26, 2004
—
Tennessee Heart LLC
Upper Cumberland Cardiology
Grant Deed
$2,700,000 · First Tennessee Bank National
Dec 27, 2002
$135,000
C Upper
Bumbalough,f
Grant Deed
—
—
—
Tennessee Heart Realty LLC
—
Deed Of Trust
related
$2,700,000 · First Tennessee Bank National
—
—
Tennessee Heart Realty LLC
—
Deed Of Trust
related
$52,246 · No Lender
—
—
Tennessee Heart LLC
—
Deed Of Trust
related
$367,310 · First Tennessee Bank National
—
—
Jerry Lane
—
Deed Of Trust
related
$35,763 · Citizens Federal Bank Fsb
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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