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    203 Michigan Ave Oak Ridge, TN 37830

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    For Sale
    $2,100,000

    5.73 acres of high-density residential land in Oak Ridge.

    Property size:
    5 SF
    Lot size:
    5.73 Acres

    Property Features for 203 Michigan Ave

    General Information

    Size
    5 SF
    Lot size
    5.73 Acres

    Source: Jon Roosen Agent Jon Roosen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Oak Ridge Residential Development Land

    This 5.73-acre property, comprised of two contiguous parcels located at 203 Michigan Avenue and 141 W Madison Lane in Oak Ridge, Tennessee, is zoned R-3 (High Density Residential). The site is suitable for multifamily housing, senior living, townhomes, or medical-related residential uses. Its high visibility and proximity to existing medical infrastructure also make it an ideal candidate for assisted living facilities, medical offices with residential components, or wellness-focused communities. The property is located adjacent to the Methodist Medical Center. The surrounding area offers opportunities for high-density residential and medical developments, with proximity to local amenities. Nearby green spaces include Alvin K. Bissell Park, and the Manhattan Project National Historical Park. The location provides convenient access to I-140, I-40, and major medical hubs. Oak Ridge is home to Oak Ridge National Laboratory (ORNL) and Y-12 National Security Complex. The area needs more housing as companies continue to move and expand operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak Ridge
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.245249
    Latitude
    36.027139

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    FAQs

    What type of property is this?
    Land - 5.73 acres of high-density residential land in Oak Ridge.
    Where is this land located?
    The property is located at 203 Michigan Ave Oak Ridge, TN.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: - Prime location adjacent to Methodist Medical Center.; - Zoned R-3 (High Density Residential), suitable for multifamily housing, senior living, townhomes, or medical-related residential uses.; - Located in Oak Ridge, a thriving nuclear and advanced energy hub.
    (865) 202-6767
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    Oak Ridge, TN 37830
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    203 Michigan Ave Oak Ridge, TN 37830
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