Price: $2,700,000 / $83 PSF
Net Operating Income: $283,445 (Year 1) / $417,992 (Year 5) / See 10-Year Cash Flow/Argus on page 9 for more details
Cap Rate: 10.50% (Year 1) / 15.48% (Year 5) / See 10-Year Cash Flow/Argus on page 9 for more details
100% Leased Multi-Tenant NNN / Value-Add Investment Opportunity located in Oak Ridge (Knoxville MSA), TN
- Ridgeway Center is 100% occupied, giving investors a strong in-place cash flow with very favorable upside.
- True Value-Add Opportunity - Rents are 50% below market rents ($6.95 PSF In Place vs. $13.00 PSF Market) with significant rollover
over in the coming months, recent renewals and lease comps show strong evidence for continued rental growth. Majority of tenants do not
have options to extend.
- Below replacement cost at $83 PSF.
- Ideally located off of the main thoroughfare (Oak Ridge Turnpike) serving the Trade Area.
- Located in Oak Ridge, which is outside of downtown Knoxville, Tennessee. Oak Ridge is home to United States Department of Energy
facilities - a national laboratory and a national security complex - and high-tech/high-wage employers. It is also home to a regional medical
- Ridgeway Shopping Center has a healthy variety of diverse local neighborhood serving tenants & businesses
- Landlord friendly/well written triple-net (NNN) leases, whereby the tenant is responsible for paying and/or reimbursing the landlord for the
property taxes, insurance, and common area maintenance (CAM).