Retail/Office Condo in Oak
For Sale
Contact for pricing
1143 Oak Ridge Turnpike Unit 105, Oak Ridge, TN 37830
High-end commercial condo in central Oak Ridge retail area.
Property Size1,720 SF
Price / SF$225
Days on Market1454
Property Features for 1143 Oak Ridge Turnpike Unit 105
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Office, Retail
Zoning
Commercial
Building Details
Year Built
2006
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Mike Fuller Realty & Company
(865) 909-7471
Listed By:
Michael Fuller · License #249198
Source:
Crexi
Added: Sep 8, 2022
Changed: Aug 21
Last Checked: Aug 31 at 11:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mike Fuller Realty & Company
Investment Insights
Based on property information with market context.
This high-end Class "A" commercial condo is available for sale as a long-term net-leased investment. Located in the center of the retail triangle in the city of Oak Ridge, the property benefits from its prime retail/office location. The unit features large storefront windows providing tons of natural light. Great signage opportunities are available, and there is direct elevator access to the 2nd level office suites. The property is situated next to Central Park Retail, near Home Federal Bank, and is anchored by tenants such as Firehouse Subs, UPS, Prestige Dry Cleaners, and Oak Ridge Eye, which draws consistent traffic. The property size is 1720 square feet.
Key Highlights
- Prime retail/office location in the center of Oak Ridge's retail triangle.
- High‑end Class "A" commercial office condo.
- Long‑term net‑leased investment opportunity.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,706
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$494,120
$494.1K
Cap Rate 7%
$352,943
$352.9K
Cap Rate 9%
$274,511
$274.5K
Market Conditions
NOI Build-Up for 1,720 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.2K $21.60/SF
− Vacancy
−$1.9K −$1.08/SF
EGI
$35.3K $20.52/SF
− OpEx
−$10.6K −$6.16/SF
NOI
$24.7K $14.36/SF
Area
Anderson County, TN
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$494,120
Cap Rate 7%
$352,943
Cap Rate 9%
$274,511
Alternative Uses
Best Use
Retail
$352.9K
$308.8K – $411.8K
NOI $24,706 @ 7.0% cap · market cap 6.38%
Second Best
Office B
$325.1K
$284.5K – $379.3K
NOI $22,756 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$426.0K
$372.8K – $497.0K
NOI $29,821 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 37830, TN
31,839
Population
15,110
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
84.8 sq mi
ZIP Area
375
Density / Sq Mi
$70,795
Median Household Income
$41,293
Median Earnings
$1,076
Median Rent
$234,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-end commercial condo in central Oak Ridge retail area.
Where is this retail space located?
The property is located at 1143 Oak Ridge Turnpike Unit 105 Oak Ridge, TN.
What is the asking price?
The asking price for this property is $387,000.
What are key features of this property?
This property features: Prime retail/office location in the center of Oak Ridge's retail triangle.; High‑end Class "A" commercial office condo.; Long‑term net‑leased investment opportunity.
