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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Warehouses
649 Horace Lewis Rd Cookeville, TN 38506-5955
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-3538893
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1977
Construction
FRAME
Total area
14,153 SF
Lot
2.85 ac (124,146 SF)
APN
071096 01803
UPID
US80-3538893
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
-
One Hour Heating & Air Conditioning® of Cookeville HVAC Service General Contractor
-
Benjamin Franklin Plumbing of Cookeville Plumbing Service General Contractor
-
Mister Sparky of Cookeville Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$720k
Blend (final)
Blend
$900k
Owner & transaction history
Bullington Land Company LLC · 2 yrs held
Bullington Land Company LLC
since 2024
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+79.1%
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
$900,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$805,000
Current use
COMMERCIAL (GENERAL)
$1,440,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $900k (Apr 30 2024)
Last sale anchor
$900k
Apr 30 2024
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
$64 / 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
$6,588
Tax year 2022
Assessed value
$200,120
Assessed 2023
Previous assessed
$200,120
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$39,920
Assessed improvement
$160,200
Land market value
$99,800
Improvement market value
$400,500
Total market value
$500,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1977
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Bathrooms
2
Total area
14,153 SF
Lot
2.85 ac (124,146 SF)
APN
071096 01803
UPID
US80-3538893
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
WAREHOUSE, STORAGE Current
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1977
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Bathrooms
2
Lot
2.85 ac
Current owner
From public records · entity-resolved
Bullington Land Company LLC
Entity
Mailing address
649 HORACE LEWIS RD, COOKEVILLE, TN 38506-5955
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2024
$900,000
Bullington Land Company LLC
Randal Petrie
Warranty Deed
$720,000 · One Bank Of Tennessee
Oct 5, 2017
—
Petrie,randal Trust
—
Deed
related
$520,000 · First Nat'l Bk/tn
Aug 2, 2005
$412,000
Randal Petrie
Sotis,robert & Julie
Warranty Deed
$406,000 · First National Bank Tn
Oct 24, 1997
—
Biro,llc
—
Deed Of Trust
related
—
Jun 12, 1996
$270,000
Rod Lessard
—
Grant Deed
related
—
Feb 13, 1996
$170,000
Bird,llc
—
Grant Deed
related
—
—
—
Randal Petrie
—
Deed Of Trust
related
$125,081 · Apex Supply Co
—
—
Petrie Randal Trust
—
Deed Of Trust
related
$225,000 · First National Bank Tn
—
—
Randal Petrie
—
Deed Of Trust
related
$150,000 · First National Bank Tn
—
—
Randal Petrie
—
Deed Of Trust
related
$57,000 · First National Bank Tn
—
—
Petrie Randal Trust
—
Deed Of Trust
related
$300,000 · First National Bank Tn
—
—
Petrie,randal Trust
—
Deed Of Trust
related
$520,000 · First Nat'l Bk/tn
—
—
Randal Petrie
—
Deed Of Trust
related
$100,000 · Robert Sotis
—
—
Randal Petrie
—
Deed Of Trust
related
$300,000 · First National Bank Tn
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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