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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    880 Jefferson Ave Cookeville, TN 38501-4031

    • Turn key restaurants
    • 5,965 SF
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3424201
    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

    • Turn key restaurants

    Property Details for 880 Jefferson Ave

    Year built
    1994
    Lot size
    2.00 lot acres
    Property size
    5,965 SF
    Zone code
    C-3
    Property type
    Turn key restaurants
    APN
    071066 04900
    APU
    7106604900

    Description

    This exceptional 6,009-square-foot retail space, formerly a Shoney's restaurant, presents a unique opportunity for a discerning tenant in the thriving Cookeville, Tennessee market. Located at 880 S Jefferson Ave, this single-tenant property boasts a generous 2.36-acre lot, providing ample space for expansion or outdoor amenities. The building offers 6,009 square feet of completely vacant space, ready for immediate occupancy and customization to suit your business needs. With 92 parking spaces available, customer convenience is ensured. The property's location in Putnam County, within the vibrant Cookeville community, offers excellent visibility and accessibility, making it an ideal location for a variety of retail or restaurant concepts. The property is zoned for commercial use and is ready for immediate lease. This is a rare opportunity to secure a substantial and well-situated property in a growing Tennessee market. The ample parking and large lot size provide significant advantages for businesses requiring substantial space and convenient customer access. The property's previous use as a restaurant suggests potential for a similar business, but the versatile layout allows for a wide range of possibilities. Contact us today to learn more about this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $547,000
      Market price range: $459k - $837k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $585,000
      Current use
      RETAIL STORES
      $640,000
      Change: +10% Conversion: Easy
      COMMERCIAL (GENERAL)
      $625,000
      Change: +7% Conversion: Easy
      MEDICAL BUILDING
      $555,000
      Change: -5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $530,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cookeville
    County
    Putnam
    State
    Tennessee
    Longitude
    -85.4998
    Latitude
    36.1403
    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
    $21,109
    $440,000
    $151,600
    $591,600
    -
    $1,100,000
    $379,000
    $1,479,000

    Comparable in this City

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      $660,000
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      1500 Country Clb Rd

      RESTAURANT • 11,466 SF
      1500 Country Clb Rd, Cookeville, TN 38501-2012
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    • Value Estimation
      $1,595,000
      3,962 SF

      1115 Interstate Dr

      RESTAURANT • 3,962 SF
      1115 Interstate Dr, Cookeville, TN 38501-4133
      View Details
    • Value Estimation
      $835,000
      7,645 SF

      900 Jefferson Ave

      RESTAURANT • 7,645 SF
      900 Jefferson Ave, Cookeville, TN 38501-0953
      View Details
    • Value Estimation
      $6,115,000
      8,367 SF

      1375 Interstate Dr

      RESTAURANT • 8,367 SF
      1375 Interstate Dr, Cookeville, TN 38501-4130
      View Details
    • Value Estimation
      $650,000
      10,712 SF

      791 Jefferson Ave

      RESTAURANT • 10,712 SF
      791 Jefferson Ave, Cookeville, TN 38501-4028
      View Details

    Similar Nearby for Sale

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    • $1,500,000
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      Prime Commercial Property in Cookeville

      17,000+ sq ft commercial property in a desirable location.
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    Similar Nearby for Lease

    • $17 SF/Yr
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      Retail Space Near Walmart

      2,520 SF retail space with high visibility and traffic.
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      Remodeled Retail Space, High Visibility

      Newly remodeled retail space in high-traffic Cookeville area.
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      Spacious, modern commercial space with excellent visibility and flexible layout.
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      Versatile Commercial Suite in Cookeville

      Commercial suite ideal for salon or small business in Cookeville.
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    • Contact for pricing
      3,895 SF

      Retail Space in Cookeville Center

      Retail space available in a Walmart shadow-anchored shopping center.
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      Versatile Retail/Office Space Available

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    880 Jefferson Ave
    Cookeville, TN 38501-4031
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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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