Oak Ridge Flex Option

Office for Sale
Catylist Listing ID: 30758808
Property Subtypes: Mixed Use, Flex Space, Research & Development
Building Size (RSF): 19,598 SF
Gross Building Area: See Agent
Gross Land Area: 1.58 Acres
Sale Price: $700,000
Unit Price: $35.72 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/18/2021

Overview / Comments

Renovation ready! Newly signed 5-year tenant demonstrates untapped potential for 19,598 SF Oak Ridge office building. Most interior walls are prefabricated modular, making reconfiguration or demolition affordable. Zoned B-2 "General Business" for wide variety of permitted uses, including office, showroom, workshop, research lab, R&D and many others. New owner may open up sections of the building for flex space with offices. Possible to add additional roll-up doors with city approval (one existing). Multiple front entry points in seven sections facilitates multi-tenancy. Located within an SBA HUBZone for federal contract eligibility and award preference.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $14,278 (Annual)
Tax Value Land $115,000
Tax Value Improvements $748,400
Tax Value Personal Property $633,400
Assessed Value - Total($) $299,360 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Anderson
Tax ID/APN: 001105AB00200
Zoning: B-2
Site Description: The City of Oak Ridge is located Eastern Tennessee, approximately 22 miles northwest of Knoxville. Oak Ridge is approximately 92 square miles and includes U.S. Department of Energy plants and facilities. Residential, commercial and municipal owned portions of the City make up nearly 30 square miles. The remaining area of the City is owned by the Department of Energy.
Area Description: West on Pellissippi Pkwy (140) to Oak Ridge Hwy (62); continue west to S Illinois Ave west. West on Oak Ridge Turnpike to Jefferson Ave north. Property is at the intersection of Jefferson Ave and Robertsville Rd. 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. Oak Ridge is the first retail destination for residents within five (5) East Tennessee counties.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1976
Roof Type: Other
Construction/Siding: Brick
Parking Ratio: 4.6 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 88
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable
Interior Description: Prefabricated modular walls
Lot Frontage: 337

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,796 21,777 36,402
Median Age: 37.33 40.66 43.41
Households: 1,996 9,472 15,671

Contact

Photograph of Listing Agent

Christa Rosenberg

Coldwell Banker Commercial Wallace Greater Nashville CIE Member
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