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Property profile & analytics
OFF-MARKET
Estimated value
$2,860,000
Residential income homes
115 Fairbanks Rd Oak Ridge, TN 37830-7052
Entity Owned
6-yr Hold
Free & Clear
Property ID
US80-2661520
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1979
Construction
STEEL FRAME
Total area
75,477 SF
Lot
5.07 ac (220,849 SF)
Zoning code
R7
APN
001094K A 01700
UPID
US80-2661520
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Frank Callaghan Towers Apartment Complex Apartment Building
-
Edith Clark Hotel & Motel Bed & Breakfast
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.86M
Blend (final)
Blend
$2.86M
Owner & transaction history
Industrial Dev Board Of The City · 6 yrs held
Industrial Dev Board Of The City
since 2019
1 recorded transaction
Zoning & alternative use
R7 · Oak Ridge, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning Ordinance PDF
Top alternative use upside
Restaurant
$4.6M
+59.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Oak Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Ridge submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,860,000
Current use
RESTAURANT
$4,565,000
Change: +60% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,430,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.86M
Range $2.57M – $3.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$38 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Land market value
$232,600
Improvement market value
$2,459,000
Total market value
$2,691,600
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1979
Construction
STEEL FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
1
Bathrooms
112
Total area
75,477 SF
Lot
5.07 ac (220,849 SF)
Zoning code
R7
APN
001094K A 01700
UPID
US80-2661520
Jurisdiction
ANDERSON
Zoning & alternative use
R7 · Oak Ridge, TNZoning R7 · permitted uses
R7 · Oak Ridge, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Ordinance PDF
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.9M
RESTAURANT
Est. value
$4.6M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1979
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
112
Lot
5.07 ac
Current owner
From public records · entity-resolved
Industrial Dev Board Of The City
Entity
Free & Clear · 6 yrs held
Mailing address
900 S GAY ST STE #2000, KNOXVILLE, TN 37902-1861
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2019
—
Industrial Dev Board Of The City
Oak Ridge Towers Ltd
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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