710 South Illinois Avenue

Oak Ridge, TN 37830

Pine Ridge

Listing ID: 196583

$2,990,000

For Sale

Property Type Office : Professional
Lot Size Acres 0.000
Building Sq Ft 60,000
Building Price per Sq Ft $49.83
Land Price per Sq Ft $49.83

710 South Illinois Avenue Oak Ridge, TN 37830 - main image

710 South Illinois Avenue Oak Ridge, TN 37830 - alt image 2

710 South Illinois Avenue Oak Ridge, TN 37830 - alt image 3

710 South Illinois Avenue Oak Ridge, TN 37830 - alt image 4

Description

Pine Ridge Office complex is currently being offered for sale by Avison Young Knoxville. This multi-tenant professionally maintained property is 80% occupied, features 6 individual buildings, with front door parking, easy access and close proximity to Y-12 National Security Complex (The largest Employer in the Knox MSA). The historical income and expense statements show consistent and durable income overall several years and plenty of upside. The property is located on the south side of S. Illinois Avenue with traffic counts exceeding 29,000 vehicles per day.
• 60,000 Rentable SF
• Return Based on In-place income at 80% occupied and historical expenses
• Easy Access to Oak Ridge and Knoxville
• Consistent Income with long standing tenants
• Upside Potential/Value Add Investment
• Drive up to door locations
• Flexible Floor Plans and lease terms
• Major Tenants include:
Process Engineering (https://processengr.com/)
CTI & Associates, Inc.
East Tennessee Oral & Maxillofacial
Strategic Resource Alliance
Oxygen & Sleep Associates, Inc.

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		2,357	18,516	37,200
Population Median Age		40	41	40
Population by Age	0-9 Yrs	301 (12%)	2246 (12%)	4337 (11%)
	10-19 Yrs	197 (8%)	1925 (10%)	4492 (12%)
	20-29 Yrs	437 (18%)	2602 (14%)	4675 (12%)
	30-39 Yrs	269 (11%)	2282 (12%)	4585 (12%)
	40-49 Yrs	304 (12%)	2477 (13%)	4993 (13%)
	50-59 Yrs	190 (8%)	2252 (12%)	4907 (13%)
	60-69 Yrs	416 (17%)	2502 (13%)	4828 (12%)
	70+ Yrs	244 (10%)	2231 (12%)	4384 (11%)

Median HH Income		$31,757	$45,374	$56,092
Total Household Income	< 24K	360 (35%)	2301 (28%)	3555 (23%)
	25-49K	289 (28%)	1938 (23%)	3371 (21%)
	50-74K	173 (17%)	1475 (18%)	2851 (18%)
	75-99K	58 (5%)	749 (9%)	1832 (11%)
	100-199K	89 (8%)	1295 (16%)	3105 (20%)
	200K+	39 (3%)	329 (4%)	717 (4%)

Highest Education Level	No Diploma	258	1213	2109
	Diploma or GED	568	3507	6614
	Some College	390	2910	5880
	Assoc. Degree	166	1094	2150
	Bachelors Degree	168	2376	5184
	Higher Degree	163	2114	4363

Total Housing Units		1,221	9,557	17,629
--Owner-Occupied		509	4,517	10,046
--Renter-Occupied		500	3,570	5,385
Owner-Occupied Values	< 100K	216	1456	2692
	100-199K	160	1872	3840
	200-299K	98	695	1954
	300-399K	19	254	771
	400-499K	8	132	378
	500K+	8	109	411

Total Working Age Population		1,888	15,047	29,833
In Work Force		1,015	9,061	18,279
Not In Work Force		873	5,987	11,554
Workforce Employed		970	8,486	17,281
Workforce Unemployed		45	575	993
Civlian Workforce		1,015	9,061	18,275
Military Workforce		0	0	4

Total Households		1,009	8,088	15,431
Family Households		562	4,591	9,778
Non-Family Households		447	3,497	5,653
Married Couple		427	3,137	7,091
Other Family		135	1,454	2,687
Married w/Child		213	1,266	2,665
Single Male w/Child		19	100	268
Single Female w/Child		59	681	1,249

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Tennessee	5,689,283	+12	6,346,105	+9	6,886,369	+7	7,393,069
Knox County	382,032	+13	432,226	+10	473,996	+8	513,318
Anderson County	71,330	+5	75,129	+3	77,151	+3	79,454
Roane County	51,910	+4	54,181	-2	53,285	0	53,111

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.