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 Market101
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 | RM Moore
(321) 439-3175
Listed By:
Heidi Adams · License #00320097
(321) 439-3175
Source:
Naiglobal
Added: May 14
Changed: Aug 9
Last Checked: Aug 22 at 4:12AM
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 | 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 = 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
$502,449
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
7.19%
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%
$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
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
$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 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%
$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
Property Profile
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
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.
