849 W Main St, Oak Ridge, TN 37830 For Sale

Oak Ridge Shopping Center is a fully occupied, 38,779 SF neighborhood shopping center anchored by Staples, which has been operating at the property for over 27 years. The center is located within Oak Ridge's largest retail corridor, positioned at the doorstep of Main St Oak Ridge — the market's largest power center — with Walmart, Dick's Sporting Goods, TJ Maxx, Ross, Five Below, Kroger, and others located in close proximity.

The property benefits from a strong national tenant lineup, with 79% of GLA and revenue generated by national or regional tenants. Anderson County, TN maintains a 98% retail occupancy rate, demonstrating the strong fundamentals of the market. Oak Ridge has experienced over 14% population growth since 2019, and employment grew almost 7% from 2023-2024.

The investment offers income stability and NOI growth potential, with tenants representing 84% of GLA and 77% of rental revenue holding options with rental increases in place. Annual rental increases in current lease terms and renewal periods provide organic income growth for the landlord. Recent leasing momentum includes 6 new leases executed since the beginning of 2023, and the short-term WALT among current occupying tenants gives the landlord future flexibility across the rent roll.