230 Wall StCookeville, TN 38506

Property Details for 230 Wall St

Year built

1950

Construction

FRAME

Lot size

2.67 AC

Property size (Sq ft)

24,694 SF

Property type

Manufacturing properties

APN

071026N J 00500

APU

071026NJ00500

Description

This exceptional 32,500-square-foot manufacturing facility in Cookeville, Tennessee, presents a compelling net lease investment opportunity. Located on a 3.29-acre lot at 230 E Wall St, this property boasts a strong 7.41% cap rate and is currently under a NN+ lease with Transfer Flow, a tenant with a proven track record. The lease has 4.4 years remaining, featuring 2% annual rent increases and two 3-year renewal options. Built in 1950 and extensively renovated in 2022, the building is in excellent condition and features four grade-level doors and one dock door, ensuring efficient operations. The property benefits from a highly desirable location near Highway 111, providing easy access to both Nashville and Knoxville. Putnam County's industrial vacancy rate is exceptionally low, approximately 1.5%, indicating robust demand. The surrounding area shows strong demographics, with projected population growth and over $456.9 million in consumer spending within a 5-mile radius. The landlord is responsible for roof, HVAC, and structural maintenance, minimizing operational responsibilities. The asking price is $2,350,000, translating to $76.46 per square foot. This is a rare opportunity to acquire a high-quality, passively managed industrial asset in a thriving market.

• Alternative Use

  Use

  Valuation

  Residential

  $4,882,860

  Hospitality

  $4,472,674

  Educational

  $3,721,212

  Medical

  $3,849,190

  Retail

  $5,788,552

Location Insight

City

Cookeville

County

Putnam

State

Tennessee

Latitude

36.1954

Longitude

-85.4428

CBSA code

18260

CBSA name

COOKEVILLE, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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