Transfer Flow | Industrial Vacancy Rate | NN+ Lease | Strong Demand for Industrial Properties | FOR SALE

230 East Wall Street, Cookeville, TN

$2,600,000

Price

6.69%

Cap Rate

32,500 sqft

Building Size

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Street
Map
Overview
Cap Rate
6.69%
Building Size
32,500 sqft
Lot Area
3.29 acres
Lease Type
Double Net
Year Built
1950
Price Per Sqft
$80
Zoning
Light Industrial
Year Last Renovated
2022
Highlights
  • Strong Submarket Fundamentals - “The Cookeville-Putnam County Chamber of Commerce in 2021 noted the industrial vacancy rate in Putnam County was approximately 1.5% at the time of the report. This indicates a very low vacancy level in the area, which suggests a strong demand for industrial properties in Cookeville and the surrounding region.”
  • The tenant recently signed a 5-year original lease. Passive Lease – Transfer Flow is operating on a NN+ lease with landlord responsible for roof, HVAC and structural elements of the property. They have over 4 years remaining on their original lease term with 2% annual rent increases and 2, 3-year options to renew.
  • High Quality Facility – This single-story industrial building has been professionally maintained and features 4 grade-level doors, 1 dock door, and 20’ clear height.
  • Strong Demographics – Within the surrounding 5-miles, the population is projected to grow steadily over the next 5 years, and boasts over $456.9M in consumer spending.
  • Irreplaceable Location – The property is located near the heavily trafficked Highway 111 and is central to Nashville and Knoxville.
Documents
Title
Offering Memorandum
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Location
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