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1843 Foreman Dr
Cookeville, TN 38501
Freedom Plaza · Office Property For Sale
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
Property Facts
Amenities
- 24 Hour Access
Sustainability
Sustainability
LEED Certification Developed by the U.S. Green Building Council (USGBC), the Leadership in Energy and Environmental Design (LEED) is a green building certification program focused on the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods, which aims to help building owners and operators be environmentally responsible and use resources efficiently. LEED certification is a globally recognized symbol of sustainability achievement and leadership. To achieve LEED certification, a project earns points by adhering to prerequisites and credits that address carbon, energy, water, waste, transportation, materials, health and indoor environmental quality. Projects go through a verification and review process and are awarded points that correspond to a level of LEED certification: Platinum (80+ points) Gold (60-79 points) Silver (50-59 points) Certified (40-49 points)
Property Taxes
| Parcel Number | 065-057.03 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,683,760 |
Property Taxes
