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    136 Illinois Ave Oak Ridge, TN 37830-6220
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    Property profile & analytics

    136 Illinois Ave, Oak Ridge, TN 37830-6220

    View on Map
    • Office Spaces
    • 13,996 SF
    • 1.21 lot acres
    Off-Market
    Last Sale Apr 30, 2024
    $800,000
    Property ID
    US80-0739908
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $800,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tippett Hannah / Law Firm
    • Mostoller, Stulberg, Whitfield, Allen & Tippett Law Firm / Law Firm / Financial Advisor
    • Ellis & Allen / Law Firm
    • Tennessee Career Center / Employment Agency
    • ETHRA - American Job Center / Social Service Agency / Charitable Organization

    Property Details for 136 Illinois Ave

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.21 lot acres
    Property type
    Office Spaces
    APN
    001099N A 01100
    APU
    001099NA01100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 30, 2024 $800,000 B And B Properties Creekside Investors LP Warranty Deed —
    Dec 28, 2022 — Creekside Investors Ltd — Deed · related $49k · Tnbank
    Sep 29, 2020 — Creekside Investors Ltd — Deed · related $685k · One Bk/tennessee
    Jan 26, 2011 — Scott Mckenney Ridge Commercial Grant Deed · related —
    — — Creekside Investors Ltd — Loan Modification · related $685k · One Bk/tennessee

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000
      ML approach
      $800,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $823,000
      Market price range: $415k - $1.80M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oak Ridge
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.2654
    Latitude
    36.008
    CBSA code
    28940
    CBSA name
    KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $69,560
    $213,280
    $282,840
    -
    $173,900
    $533,200
    $707,100

    Comparable in this City

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      1143 Oak Rdg Tpke

      OFFICE (GENERAL)
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    • Value Estimation by Request
      1,700 SF

      100 Donner Dr

      OFFICE (GENERAL)
      100 Donner Dr, Oak Ridge, TN 37830-7739
      View Details
    • Value Estimation by Request
      1,294 SF

      661st Emory Vly Rd

      OFFICE (GENERAL)
      661st Emory Vly Rd, Oak Ridge, TN 37830-7763
      View Details
    • Value Estimation
      $520,000
      4,274 SF

      669 Emory Vly Rd

      OFFICE (GENERAL)
      669 Emory Vly Rd, Oak Ridge, TN 37830-7758
      View Details
    • Value Estimation
      $525,000
      5,366 SF

      138 Lincoln Cir

      OFFICE (GENERAL)
      138 Lincoln Cir, Oak Ridge, TN 37830-4825
      View Details
    • Value Estimation
      $580,000
      5,293 SF

      170 Raleigh Rd

      OFFICE (GENERAL)
      170 Raleigh Rd, Oak Ridge, TN 37830-5040
      View Details

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      Sneedville Office/Retail/Medical Building For Sale

      Office, medical, or retail building with parking in Sneedville, TN.
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      Oak Ridge Medical/Office Property

      Investment or owner-user opportunity in a growing market.
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    • $6,990,000

      Fully Leased Oak Ridge Office

      Multi-tenant office building with immediate cash flow in Oak Ridge.
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    Similar Nearby for Lease

    • $22 SF/Yr
      1,720 SF

      Oak Ridge Turnpike Executive Office Space

      Prime Oak Ridge Office, 1720 sq ft available.
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    • $35 SF/Yr

      Prime Retail/Office Space Available

      Exceptional leasing opportunity in Oak Ridge, near dining and attractions.
      437 S Illinois Ave, Oak Ridge, TN 37830
      View Details
    • $7 SF/Yr

      Office Space in Oak Ridge

      Two-story office space available for rent in Oak Ridge.
      133 Warehouse Rd, Oak Ridge, TN 37830
      View Details
    • $14 SF/Yr

      Oak Ridge Office Space Available

      Office spaces near Oak Ridge National Laboratory with flexible layouts.
      710 South Illinois Ave, Oak Ridge, TN 37830
      View Details
    • $17 SF/Yr

      Office Suite Near ORNL

      4,769 SF office suite near Oak Ridge National Laboratory.
      1006 Floyd Culler Ct, Oak Ridge, TN 37830
      View Details
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    136 Illinois Ave
    Oak Ridge, TN 37830-6220
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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