Commercial Development Tract
Vacant Land
for Sale
| Catylist Listing ID: |
30699493 |
| Property Subtypes: |
Hospitality, Retail, Other
|
| Gross Land Area: |
5.08 Acres
|
| Sale Price: |
$1,575,000 |
| Unit Price: |
$310,039 Per Acre |
| In Opportunity Zone? |
Yes |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/23/2023 |
Overview / Comments
This 5+ acre wooded tract is zoned for tourist commercial development. It has good visibility, adequate road frontage, rolling topography, and municipal utilities nearby. It seems well-suited for hotel, retail, and restaurant development. In 2006, an engineering firm prepared site plans for the property, to include a 4-story 80-room hotel, a 3-story 60-room hotel, a 208-seat restaurant, and 203 parking spaces. The property is priced below the 2006 acquisition price.
In the Tax Cuts and Jobs Act of 2017, Congress authorized a new community investment tool known as Opportunity Zones. This property is located within one of Sevier County's Opportunity Zones.
Sevier County and Great Smoky Mountains National Park attract 15 million annual visitors, and Winfield Dunn Parkway, off of I-40 Exit 407, is the primary traffic artery for those visitors.
The property is located north of Interstate 40 Exit 407, directly across from Fairfield Inn & Suites and near Bass Pro Shop.
|
Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$3,671 (Annual) |
Additional Details
| Nearest MSA: |
Sevierville |
| County: |
Sevier |
| Taxing Authority: |
City of Sevierville |
| Tax ID/APN: |
008 029.01 |
| Zoning: |
C-5 TOURIST COMMERCIAL ZONING DISTRICT |
| Property Visibility: |
Good |
| Legal Description: |
Map 008, Parcel 029.01, Tract 1B |
| Largest Nearby Street: |
US 441/Hwy 66 (Winfield Dunn Parkway) |
| Feet of Frontage: |
799 |
| Highway Access: |
Bass Pro Drive |
| Site Description: |
Wooded, rolling topography |
| Area Description: |
Located just off I-40 Exit 407, directly across the street from Fairfield Inn & Suites and near Bass Pro Shop. |
| Lot Frontage: |
799 |
| Zoning Description: |
C-5 Tourist Commercial |
| Topography: |
Rolling |
| Available Utilities: |
Electric, Water, Gas, Sewer |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,756 |
10,733 |
13,441 |
| Median Age: |
37.17 |
40.44 |
40.02 |
| Households: |
650 |
4,118 |
5,130 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Knoxville Area Association of REALTORS® nor
Moody's assume any liability for errors or omissions.
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