• Year Built: 1981
214 South Illinois Avenue is a mixed-use property for lease in Oak Ridge, TN.
Free standing building on S. Illinois Avenue at Tuskegee. Tenant, Concord Cleaners, signed five year lease in June. Rent is flat for first three years then increases 3.23% in year four. No landlord responsibility. Property is located in FEMA designated "1% Annual Chance Flood Hazard" area. New development will require raising site out of floodplain.
• 7.5% cap rate
• Dry cleaner drop off point
• Strong traffic counts
• Well suite for future development
• Located across the street from Walmart Supercenter