Log In/Sign Up
Your email has been sent.
963-979 Oak Ridge Tpke 21,230 SF 100% Leased Retail Building Oak Ridge, TN 37830 $3,300,000 ($155.44/SF) 6.50% Cap Rate
Investment Highlights
- Security Square is 100% occupied, giving investors a strong in-place cash flow with very favorable upside.
- Below replacement cost at $150 PSF.
- Located in Oak Ridge, which is outside of downtown Knoxville, Tennessee. Oak Ridge is home to United States Department of Energy facilities
- True Value-Add Opportunity - Rents are 50%~ below market rents ($9.64 PSF In Place vs. $24.00+ PSF Market) with recent leasing activity at $25 PSF
- Excellent visibility and accessibility at a strong signalized hard corner along the city's primary thoroughfare
- Landlord friendly/well written triple-net (NNN) leases, whereby the tenant is responsible for paying and/or reimbursing the landlord for the property
Executive Summary
Security Square is 100% occupied, quintessential daily needs strip mall with excellent visibility and accessibility at a strong signalized hard corner along the city's primary thoroughfare. Located in Oak Ridge, which is outside of downtown Knoxville, Tennessee. Oak Ridge is home to United States Department of Energy facilities - a national laboratory and a national security complex - and high-tech/high-wage employers. It is also home to a regional medical center.
The property offers an opportunity for a well located and stable investment with strong long term upside with low rents.
The property offers an opportunity for a well located and stable investment with strong long term upside with low rents.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
21,230 SF
Building Class
B
Year Built
2007
Price
$3,300,000
Price Per SF
$155.44
Cap Rate
6.50%
NOI
$214,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
2.00 AC
Zoning
B2
Parking
65 Spaces (4.28 Spaces per 1,000 SF Leased)
Frontage
260’ on Oak Ridge Tpke
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 100A-C-026.00 | Improvements Assessment | $357,240 |
| Land Assessment | $343,200 | Total Assessment | $700,440 |
Property Taxes
Parcel Number
100A-C-026.00
Land Assessment
$343,200
Improvements Assessment
$357,240
Total Assessment
$700,440
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
