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    240-246 S Illinois Ave Oak Ridge, TN 37830

    For Sale
    $3,600,000

    68,403 SF retail on 4.77 acres in Oak Ridge.

    Property size:
    68,403 SF
    Lot size:
    4.77 Acres

    Property Features for 240-246 S Illinois Ave

    General Information

    Size
    68,403 SF
    Lot size
    4.77 Acres

    Source: Realty Executives Associates Agent Timothy Duff

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

    Overview

    Retail Property in Oak Ridge

    This property features 68,403 square feet of retail space situated on 4.77 acres. It is located on South Illinois Avenue in Oak Ridge, across from the Walmart Supercenter. The surrounding area includes new developments with national retailers. The location is suitable for redevelopment with hotel and retail pads.
    Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    The Westcott Center, Grove Shopping Center, Coinstar Kiosk - Bitcoin ATM, Glam House Studios

    Location Insight

    • Map
    • Local Demand
    City
    Oak Ridge
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.259694
    Latitude
    36.006265

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    FAQs

    What type of property is this?
    Shopping center - 68,403 SF retail on 4.77 acres in Oak Ridge.
    Where is this shopping center located?
    The property is located at 240-246 S Illinois Ave Oak Ridge, TN.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: - 4.77 acres located "main on main" on S. Illinois Ave.; - Boasts 68,403 sf of retail space.; - Across from Walmart Supercenter.
    (865) 588-3232
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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
    240-246 S Illinois Ave Oak Ridge, TN 37830
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