FedEx Ship Center

2221 W Jackson St, Cookeville, TN

$2,950,000

Price

4.31%

Cap Rate

$127,175

NOI

Overview
Cap Rate
4.31%
NOI
$127,175
Building Size
24,499 sqft
Lot Area
2.57 acres
Occupancy
100%
Year Built
1973
Description

FedEx (S&P BBB) Ship Center located in Cookeville, TN.

Cookeville, TN (Tax Free State)

Highlights
  • OVER 7 YEARS REMAINING | NET-LEASED FEDEX SHIP CENTER
  • MINIMAL RESPONSIBILITIES | DOUBLE NET STRUCTURE
  • (2) 5-YEAR OPTIONS WITH FMV RENT INCREASES EACH OPTION
  • FEDEX (S&P BBB) CORPORATE GUARANTEE
  • FEE SIMPLE ASSET | DELIVERED FREE & CLEAR
  • LOCATED IN TENNESSEE | INCOME TAX FREE STATE
  • BRAND NEW ROOF REPLACED IN 2021
  • LONG TERM OCCUPANCY | OVER 23 YEARS AT SITE
  • BELOW MARKET RENTS | FEDEX PAYING $5.19 PSF
  • SITUATED ON 2.57-ACRE LOT | 24,449-SQUARE FOOT BUILDING
  • NO IMMEDIATE COMPETITION IN VICINITY
  • COOKEVILLE TN | ONE OF THE FASTEST GROWING CITIES
  • STRONG DEMOS | 51,000+ PEOPLE IN 5-MILE RADIUS
  • STABLE MARKET | $60,000+ INCOME IN 5-MILE RADIUS
  • RETAILERS IN IMMEDIATE VICINITY INCLUDE: WALMART, MENARD’S, FEDEX, MCDONALD’S, , BURGER KING, TACO BELL, DOLLAR GENERAL, ADVANCE AUTO PARTS, AUTOZONE, TRACTOR SUPPLY COMPANY, TIM HORTON’S, DOLLAR TREE, ETC.
Location