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Freedom Plaza 1843 Foreman Dr 25,737 SF 95% Leased Office Building Cookeville, TN 38501 $12,873,225 CAD ($500.18 CAD/SF) 5.70% 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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| 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 (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
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)
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 was established in 1992 and has become a major provider of kidney dialysis services. The company operates thousands of outpatient dialysis centers globally. Services include in-center hemodialysis, peritoneal dialysis, and home dialysis options. DaVita also provides integrated kidney care programs and clinical research services. The company serves hundreds of thousands of patients annually through its network of facilities in the United States and multiple other countries.
| 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
- Build-Out
- Available
- 2nd Floor
- 1,200 SF
- Office
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 2nd Floor | 1,200 SF | Office | - | Now |
2nd Floor
| Size |
| 1,200 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
Property Taxes
| Parcel Number | 065-057.03 | Improvements Assessment | $2,113,380 CAD |
| Land Assessment | $229,909 CAD | Total Assessment | $2,343,289 CAD |
Property Taxes
Presented by
Freedom Plaza | 1843 Foreman Dr
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