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    Property profile & analytics

    615 Main St Cookeville, TN 38506-5322

    • Warehouses
    • 10,611 SF
    • 1.11 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2022
    $1,788,600
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    3.9%
    Warehouses
    Location Intelligence
    Property ID
    US80-0979666
    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

    • Potters Ace Hardware / Building Supply / Hardware & Home Improvement

    Property Details for 615 Main St

    Year built
    2003
    Construction
    FRAME
    Lot size
    1.11 lot acres
    Property size
    10,611 SF
    Property type
    Warehouses
    APN
    071041G D 00600
    APU
    071041GD00600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,190,000
      ML approach
      $2,340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,410,000
      6.5%
      $1,300,000
      7%
      $1,210,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,275,000
      COMMERCIAL (GENERAL)
      $1,080,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.4591
    Latitude
    36.1835
    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
    $6,610
    $97,600
    $135,600
    $233,200
    -
    $244,000
    $339,000
    $583,000

    Comparable in this City

    • Value Estimation by Request
      64,180 SF

      1824 Ml Rd

      Distribution properties • 64,180 SF
      1824 Ml Rd, Cookeville, TN 38506
      View Details
    • Value Estimation by Request
      3,600 SF

      1573 Spg St

      WAREHOUSE, STORAGE • 3,600 SF
      1573 Spg St, Cookeville, TN 38506-4316
      View Details
    • Value Estimation
      $740,000
      11,980 SF

      125 Security Pl

      WAREHOUSE, STORAGE • 11,980 SF
      125 Security Pl, Cookeville, TN 38506-4944
      View Details
    • Value Estimation by Request
      8,484 SF

      1546 Spg St

      WAREHOUSE, STORAGE • 8,484 SF
      1546 Spg St, Cookeville, TN 38506-4384
      View Details
    • Value Estimation
      $680,000
      30,432 SF

      465 Universal Dr

      WAREHOUSE, STORAGE • 30,432 SF
      465 Universal Dr, Cookeville, TN 38506-4603
      View Details
    • Value Estimation by Request
      18,190 SF

      2900 Landscape Rd

      WAREHOUSE, STORAGE • 18,190 SF
      2900 Landscape Rd, Cookeville, TN 38506-6549
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Highway Frontage Flex Space Land

      Land suitable for flex space with highway frontage and utilities.
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      View Details
    • $1,499,000
      8,946 SF

      Prime Commercial Land Opportunity

      2.79 acres of commercially zoned land with high traffic exposure.
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    • $499,998
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      High-Visibility Commercial Building on Fisk Rd

      4380 sqft commercial building with high visibility and accessibility.
      2355 Fisk Rd, Cookeville, TN 38506
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    • Contact for pricing
      64,180 SF

      Manufacturing Facility near Highway 111

      74,180 SF manufacturing facility on 7.6 acres in Cookeville, TN.
      1824 Brown's Ml Rd, Cookeville, TN 38506
      View Details
    • Contact for pricing
      0.86 Acres

      Buildable Lot in Cookeville, TN

      Buildable lot in Victory Hill subdivision, Cookeville, TN.
      643 Ewell Dr, Cookeville, TN 38506
      View Details
    • $34,900
      0.34 Acres

      Residential Lot in Algood

      Residential building lot in a convenient, walkable location.
      Williams Cir, Cookeville, TN 38506
      View Details
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    615 Main St
    Cookeville, TN 38506-5322
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    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
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