1990 Oak Ridge TpkeOak Ridge, TN 37830

Property Details for 1990 Oak Ridge Tpke

Year built

1943

Construction

WOOD

Lot size

1.92 AC

Property size (Sq ft)

30,900 SF

Zone code

B2

Property type

Commercial real estate

APN

001105A B 01900

APU

001105AB01900

Description

This exceptional 1.92-acre commercial property, located at 1990 Oak Ridge Turnpike in Oak Ridge, Tennessee (zip code 37830), presents a rare investment opportunity. The property boasts a prominent redlight corner location with over 320 feet of frontage on Oak Ridge Turnpike, plus additional frontage on Louisiana Avenue and East Lincoln Avenue. The site includes a 27,744-square-foot building constructed in 1975, offering significant potential for various uses. Currently zoned B2, this versatile space is ideal for a variety of retail ventures, including convenience stores, restaurants, or mini-storage facilities. All city municipal utilities are conveniently located on-site. The asking price is $994,900, translating to $43.08 per square foot. The property's location within an Opportunity Zone adds further investment appeal. This single-tenant building sits on a large lot, providing ample space for expansion or future development. The property is available for occupancy on August 3, 2023. The Anderson County location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a high-traffic location. Consider the potential for synergy with the adjacent former bank branch, which is also available for purchase, expanding the total site area to 2.61 acres. Cash or other sale terms are considered.

• Alternative Use

  Use

  Valuation

  Residential

  $6,805,064

  Hospitality

  $6,233,402

  Educational

  $5,186,117

  Medical

  $5,364,476

  Retail

  $8,067,292

Location Insight

City

Oak Ridge

County

Anderson

State

Tennessee

Latitude

36.0031

Longitude

-84.2898

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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