Commercial Development Tract

Vacant Land for Sale
Catylist Listing ID: 30699493
Property Subtypes: Hospitality, Retail, Other
Gross Land Area: 5.08 Acres
Sale Price: $1,499,999
Unit Price: $295,275 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/1/2022

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.

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

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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

Contact

Photograph of Listing Agent

David L. Gothard

NAI Koella | RM Moore KAAR CIE Member
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