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    617 W Outer Dr Oak Ridge, TN 37830
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    617 W Outer Dr, Oak Ridge, TN 37830

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    • Commercial real estate
    For Sale
    $305,000
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    Oak Ridge Duplex Investment Property For Sale
    $305,000
    1,425 SF

    Oak Ridge Duplex Investment Property

    Well-maintained duplex in Oak Ridge with income potential.

    617 W Outer Drive, Oak Ridge, TN 37830
    View Listing
    Property ID
    US80-0304560
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 617 W Outer Dr

    Year built
    1943
    Property type
    Commercial real estate

    Description

    This well-maintained duplex in Oak Ridge, Tennessee, presents a compelling investment opportunity. Located at 617 W Outer Dr, 37830, this 1943-built property boasts two units: a spacious two-bedroom, one-bathroom unit and a comfortable one-bedroom, one-bathroom unit. Both units feature open floor plans and recently installed vinyl flooring, minimizing maintenance needs and maximizing modern appeal. The property's previous long-term tenants generated a gross annual rental income of $32,100. Adding to its appeal is a fenced yard and a walk-out porch, offering private outdoor spaces perfect for relaxation or entertaining. This duplex is ideally suited for investors seeking to expand their rental portfolio or for those considering multi-generational living arrangements. The property's location in the heart of Oak Ridge provides easy access to local amenities and services. The asking price is $360,000, and owner financing is available. This is a rare opportunity to acquire a solid, income-producing property with significant potential for future growth in a desirable Tennessee location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Ridge
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.2835296
    Latitude
    36.0186396

    Comparable in this City

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      Oak Ridge Duplex Investment Property

      Well-maintained duplex in Oak Ridge with income potential.
      617 W Outer Dr, Oak Ridge, TN 37830
      View Details
    • $305,000
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      Oak Ridge Duplex Investment Opportunity

      Duplex in Oak Ridge with income potential and convenient location.
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      Oak Ridge Duplex Investment Opportunity

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    Similar Nearby for Sale

    • $550,000
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      Multifamily Property in Oak Ridge

      Multifamily property for sale with 2451 square feet.
      169 Tacoma Rd, Oak Ridge, TN 37830
      View Details
    • $310,000
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      Oak Ridge Duplex Investment Property

      Two-unit duplex in Oak Ridge, ideal for rental income.
      113/115 Walsh Ln, Oak Ridge, TN 37830
      View Details
    • $3,450,000

      Oak Ridge Multifamily Investment Portfolio

      Multifamily investment in Oak Ridge with value-add opportunity.
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      View Details
    • $305,000
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      Oak Ridge Duplex Investment Property

      Well-maintained duplex in Oak Ridge with income potential.
      617 W Outer Dr, Oak Ridge, TN 37830
      View Details
    • $305,000
      1,368 SF

      Oak Ridge Duplex Investment Opportunity

      Duplex in Oak Ridge with income potential and convenient location.
      165 Latimer Rd, Oak Ridge, TN 37830
      View Details
    • $280,000
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      Oak Ridge Duplex Investment Opportunity

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      View Details

    Similar Nearby for Lease

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      Oak Ridge Retail Space Available

      Retail space in high-traffic Oak Ridge shopping center.
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      Retail space with ample parking and high traffic volume.
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      Prime Retail/Office Space Available

      Exceptional leasing opportunity in Oak Ridge, near dining and attractions.
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    Oak Ridge, TN 37830
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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.

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