Entity Owned
No photos on file
For Lease
$5,235,000
437 S Illinois Ave,Unit Oak, Oak Ridge, TN 37830
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Property summary
AI-generated overview
This property in Oak Ridge, Tennessee was historically used as an eyecare facility and is configured for commercial use. The interior layout includes a spacious entry lobby, a reception area with a counter, multiple lab spaces, four exam areas, an office, a kitchen, and restrooms. The space is positioned within a business-oriented area and is located near Oak Ridge National Laboratory and the American Museum of Science and Energy. The property provides off-street parking and convenient access to major thoroughfares, with a layout that can support a range of office and retail uses.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,340 SF
Lot
2.27 ac (98,881 SF)
APN
001106A A 04000
UPID
US80-3084403
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Eye Care Center Optician
-
Physician
-
Physician
-
Physician
-
Ophthalmologist
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.24M
Owner & transaction history
since 2020
Last sale
$6.1M
5 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.24M
Value range
$4.71M – $5.76M
±10% around blend
Estimated value / SF
$462 / SF
Confidence
Low
3 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
30
$4.71M
blend $5.24M
$5.76M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,340 SF
Lot area
2.27 ac
Year built
2015
Stories
1
APN
001106A A 04000
Assessed value
$921,000
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.46M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
16.3 mi away · 9,086 SF
24.5 mi away · 12,600 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.24M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 56 sales
$143
+222%
Submarket 56 sales
$143
+222%
County 92 sales
$139
+232%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $462/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
2.40%
Implied, in-place cap rate for this other commercial real estate
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$424k *
Last sale · May 2020
$6.06M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$17.66M
Move the market yield to see immediate price impact.
Value / SF
$1,557
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1.90%2.40%2.90%
$381k
$20.08M
$15.89M
$13.15M
$424k
$22.31M
$17.66M
$14.62M
$466k
$24.54M
$19.43M
$16.08M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$1.20M
1.6 mi · Dec 2025 · $130/SF
Property tax & assessments
Property tax & assessments
Assessed value
$921,000
Assessed 2023
Previous assessed
$921,000
+0.0% YoY
Assessed land
$468,360
Assessed improvement
$452,640
Land market value
$1,170,900
Improvement market value
$1,131,600
Total market value
$2,302,500
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
5
Total area
11,340 SF
Lot
2.27 ac (98,881 SF)
APN
001106A A 04000
UPID
US80-3084403
Jurisdiction
ANDERSON
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
5
Lot
2.27 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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