Pacific Dental | Mattress Firm Oak Ridge, Tennessee

$2,965,000
Cap Rate: 6.65%
Available

Property Details

Cap Rate: 6.65%
Price: $2,965,000
Rentable Square Feet: 6,541 SF
Net Operating Income: $197,042
Price PSF: $453.29
Land Area: 1.23 Acres
Built/Renovated: 2017

377 & 379 South Illinois Ave
Oak Ridge, TN 37830

Investment Highlights

  • Brand New Location 100 Percent Occupied by Two National Tenants, Pacific Dental and Mattress Firm
  • Both Tenants have New, 10-Year Leases with Two, Five-Year Renewal Options and 10 Percent Increases Every Five Years
  • New, 15-Year Roof Warranty
  • Subject Property is 13 Miles from the Nearest Mattress Firm
  • Part of the Knoxville MSA
  • Surrounding National Brands Include Walmart Supercenter, Staples, T.J. Maxx, JCPenney, Aldi, Kroger, Big Lots, Dick’s Sporting Goods, Pet Supermarket, Outback Steakhouse, Panera Bread, Chick-fil-A, Sonic, Papa John’s, Bank of America, Hampton Inn, Holiday Inn, Double Tree by Hilton and Many More
  • Located off Illinois Avenue with a Daily Traffic Count of More Than 30,000 Vehicles
  • Oak Ridge is One of the Largest Employment Areas in the Knoxville Metro

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new multi-tenant retail building located in Oak Ridge, Tennessee, part of the Knoxville MSA. This property is a brand-new location 100 percent occupied by two national tenants, Pacific Dental and Mattress Firm. Both Tenants have new, 10-year leases with two, five-year renewal options and 10 percent rental increases.

The subject property is in a major retail corridor, with surrounding national brands including Walmart Supercenter, Staples, T.J. Maxx, JCPenney, Aldi, Kroger, Dicks Sporting Goods, Outback Steakhouse, Panera Bread, Chick-fil-A, Holiday Inn, Double Tree by Hilton and many more. Its located off Illinois Avenue with a daily traffic count of 30,000 vehicles, and within close proximity to the University of Tennessee which has 28,000 students and 9,800 employees.


Broker of Record – Tennessee

Jody McKibben

Lic.# 307629
(615) 997-2860

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