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Freedom Plaza 1843 Foreman Dr
25,737 SF 95% Leased Office Building Cookeville, TN 38501 $9,400,000 ($365/SF) 5.61% Cap Rate
Executive Summary
» Building is 93% occupied with reliable government tenants (State of TN, USDA, US Army)
» State of Tennessee takes up 73% of the net operating income
» Rare opportunity to acquire a high-quality, AAA rated government-backed leases
» Right off Interstate 40 surrounded by major national retail tenants including Walmart, Sam’s
» Club, Lowe’s, Chick-fil-A, Publix, AMC, Cracker Barrel, Arby’s, Hardee’s, and more
» Anchor tenant occupying 73% of the building with a AAA credit rating across all 3 agencies
» State of TN higher credit rating (AAA) than the federal government (AA+)
» Within 500 feet of Arby’s, Hardee’s, Waffle House, and Bojangles
» Rental Increases: 3.65% at Year 4; 4% at Year 7 (State of TN); 3% every 5 Years (DaVita)
» Extremely low submarket vacancy rate of 1.1% demonstrating strong demand for office space
» Minutes to VA Outpatient Clinic and Cookeville Regional Medical Center
» Walking proximity to Holiday Inn Cookeville, an IHG Hotel
» Tax Free State, No State Income Tax in Tennessee
» Ample Parking | Over 134 Spaces
» #1 state in the U.S. for the lowest state debt per capita
» #1 state in the U.S. for global access and infrastructure
» #1 state in the U.S. for advanced industry job growth
» #3 top State for Business – CNBC, 2023
» Gold LEEDS rating
» Mix of professional office and government tenants
» Close Proximity to Interstate 40, the third-longest interstate highway
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
DaVita is about life. They are about enriching the lives of their patients, teammates and partners, and the communities in which they operate. To know DaVita—affectionately referred to as the Village—is to understand their history and culture. From a humble start to striving to become a pioneer in health care around the world, see how DaVita has progressed through the years. At DaVita, they are driven to deliver differential, equitable and holistic care to their patients throughout their entire kidney disease journey. Learn how they are making strides to transform kidney care today and beyond. “Giving life.” The name DaVita is an adaptation of this Italian phrase. This is what teammates strive to do for DaVita patients every day, whether they work in a clinic or give support in an office. They are dedicated to an unwavering pursuit of a healthier tomorrow through their mission and core values.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | - | $9.99 | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Floor
- 1,350 SF
- Office/Retail
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,350 SF | Office/Retail | - | Now |
1st Floor
| Size |
| 1,350 SF |
| Space Use |
| Office/Retail |
| Condition |
| - |
| Available |
| Now |
PROPERTY TAXES
| Parcel Number | 065-057.03 | Improvements Assessment | $1,518,560 (2023) |
| Land Assessment | $165,200 (2023) | Total Assessment | $1,683,760 (2023) |
PROPERTY TAXES
Learn More About Investing in Office Space
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Freedom Plaza | 1843 Foreman Dr
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