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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    401 Illinois Ave Oak Ridge, TN 37830-7510

    • Banks
    • 16,520 SF
    • 3.94 lot acres
    OFF-MARKET
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1648553
    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.

    Current Use by Public Records

    • Ians Market / Market
    • TNBANK / Bank / Atm

    Property Details for 401 Illinois Ave

    Year built
    2000
    Lot size
    3.94 lot acres
    Property size
    16,520 SF
    Property type
    Banks
    APN
    001100P F 04000
    APU
    001100PF04000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $830,000
      Current use
      RETAIL STORES
      $1,310,000
      Change: +58% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,245,000
      Change: +50% Conversion: Difficult
      RESTAURANT
      $1,000,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Ridge
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.2503
    Latitude
    36.0058
    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
    $480,000
    $1,067,360
    $1,547,360
    -
    $1,200,000
    $2,668,400
    $3,868,400

    Comparable in this City

    • Value Estimation
      $1,520,000
      42,065 SF

      Raccoon Rd

      FINANCIAL BUILDING • 42,065 SF
      Raccoon Rd, Oak Ridge, TN 37830
      View Details
    • Value Estimation
      $1,750,000
      8,457 SF

      1298 Oak Rdg Tpke

      FINANCIAL BUILDING • 8,457 SF
      1298 Oak Rdg Tpke, Oak Ridge, TN 37830-6443
      View Details
    • Value Estimation by Request
      7,759 SF

      1188 Oak Rdg Tpke

      FINANCIAL BUILDING • 7,759 SF
      1188 Oak Rdg Tpke, Oak Ridge, TN 37830-6441
      View Details
    • Value Estimation by Request
      3,880 SF

      9133 Oak Rdg Hwy

      FINANCIAL BUILDING • 3,880 SF
      9133 Oak Rdg Hwy, Oak Ridge, TN 37830-3502
      View Details
    • Value Estimation by Request
      3,025 SF

      900 Oak Rdg Tpke

      FINANCIAL BUILDING • 3,025 SF
      900 Oak Rdg Tpke, Oak Ridge, TN 37830-6917
      View Details
    • Value Estimation
      $1,575,000
      20,400 SF

      795 Main W St

      FINANCIAL BUILDING • 20,400 SF
      795 Main W St, Oak Ridge, TN 37830-6750
      View Details

    Similar Nearby for Sale

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      Freestanding Retail with Drive-Thru

      3,200 SF commercial retail with drive-thru on 0.69 acres.
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    • $2,450,000
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      Sneedville Office/Retail/Medical Building For Sale

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      Oak Ridge Retail Opportunity

      Retail spaces available in high-traffic Oak Ridge shopping center.
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    • $399,000

      Oak Ridge Auto Shop Facility

      Two-bay oil change facility in high-traffic location for sale.
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    • $3,600,000
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      Retail Property in Oak Ridge

      68,403 SF retail on 4.77 acres in Oak Ridge.
      240-246 S Illinois Ave, Oak Ridge, TN 37830
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      Oak Ridge Retail Condo - $229,400

      Prime Oak Ridge retail space, owner-user opportunity.
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    Similar Nearby for Lease

    • $35 SF/Yr
      11,070 SF

      Prime Retail/Office Sublease Opportunity

      Sublease opportunity in Oak Ridge with versatile space and ample parking.
      437 S Illinois Ave, Oak Ridge, TN 37830
      View Details
    • $19 SF/Yr
      1,026 SF

      Retail Space Available For Lease

      Retail space for lease, 1155 square feet, $19.00 PSF.
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      View Details
    • $25 SF/Yr
      1,500 SF

      Oak Ridge Retail Space Available

      Retail space for lease in Oak Ridge, Tennessee.
      792 Briarcliff Ave, Oak Ridge, TN 37830
      View Details
    • $19 SF/Yr
      1,412 SF

      Retail Space on Oak Ridge Turnpike

      Retail space with high traffic exposure available for lease.
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      View Details
    • $7,200 /Mo
      1,640 SF

      New Retail Space Available

      Class-A retail space for rent in new development.
      239 Illinois Ave, Oak Ridge, TN 37830
      View Details
    • $22 SF/Yr
      1,720 SF

      Oak Ridge Turnpike Executive Office Space

      Prime Oak Ridge Office, 1720 sq ft available.
      1143 Oak Ridge Tpke, Oak Ridge, TN 37830
      View Details
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    401 Illinois Ave
    Oak Ridge, TN 37830-7510
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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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