Fully Leased Oak Ridge
For Sale
$6,990,000
575 Oak Ridge Turnpike, Oak Ridge, TN 37830
Multi-tenant office building with immediate cash flow in Oak Ridge.
Property Size37,978 SF
Days on Market147
Property Features for 575 Oak Ridge Turnpike
General Information
Standard status
Active
Size
37,978 SF
Class
A
Property subtype
Office
Building Details
Building Size
37,978 SF
Year Built
2003
Listing Agency:
NAI Koella l RM Moore
Listed By:
Heidi Adams · License #00320097
(321) 439-3175
Source:
Koellamoore
Added: May 14
Changed: Sep 10
Last Checked: Oct 5 at 5:13PM
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 NAI Koella l RM Moore
Investment Insights
Based on property information with market context.
Victory Centre is a fully leased, multi-tenant office building located at 575 Oak Ridge Turnpike in the center of Oak Ridge, Tennessee. The property is 100% occupied and offers immediate, steady cash flow from a mix of professional and service-oriented tenants. It is located on Oak Ridge Turnpike, the city’s main commercial corridor, and offers strong visibility and easy access to major thoroughfares and surrounding areas. The building is close to major employers, including Oak Ridge National Laboratory and other Department of Energy facilities, and is surrounded by retail, dining, and service amenities. It is situated in an established office/medical corridor with consistent demand drivers. The property requires minimal near-term capital needs for a new owner and represents a straightforward, income-producing investment in a stable and growing submarket.
Key Highlights
- 100% Leased with Immediate Cash Flow: Provides instant return.
- Diversified Tenant Mix: Reduces vacancy risk.
- Prime Location on Oak Ridge Turnpike, the city's main commercial corridor, offering strong visibility and easy access.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$502,449
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,048,980
$10.0M
Cap Rate 7%
$7,177,843
$7.2M
Cap Rate 9%
$5,582,767
$5.6M
Market Conditions
NOI Build-Up for 37,978 SF
Gross rent
$797.5K $21.00/SF
− Vacancy
−$127.6K −$3.36/SF
EGI
$669.9K $17.64/SF
− OpEx
−$167.5K −$4.41/SF
NOI
$502.4K $13.23/SF
Area
Anderson County, TN
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,048,980
Cap Rate 7%
$7,177,843
Cap Rate 9%
$5,582,767
Alternative Uses
Best Use
Office B
$7.18M
$6.28M – $8.37M
NOI $502,449 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.41M
$8.23M – $10.97M
NOI $658,447 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
441
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with immediate cash flow in Oak Ridge.
Where is this office building located?
The property is located at 575 Oak Ridge Turnpike Oak Ridge, TN.
What is the asking price?
The asking price for this property is $6,990,000.
What are key features of this property?
This property features: 100% Leased with Immediate Cash Flow: Provides instant return.; Diversified Tenant Mix: Reduces vacancy risk.; Prime Location on Oak Ridge Turnpike, the city's main commercial corridor, offering strong visibility and easy access.
