Catylist ID:
#30008410
21.31 Acre Resort Development Tract | Pigeon Forge, TN
Vacant Land
for Sale
| Catylist Listing ID: | 30008410 |
| Property Subtypes: | Hospitality, Vacation/Resort |
| Gross Land Area: | 21.31 Acres |
| Sale Price: | $14,899,000 |
| Unit Price: | $699,155 Per Acre |
| Sale Terms: | Other |
| Cap Rate: | Undisclosed |
| Last Updated: | 6/1/2023 |
Overview / Comments
|
This opportunity is the best resort development tract in Sevier County. The property consists of 21.31 acres located just off the Parkway in Pigeon Forge, TN. This opportunity is unique in many ways. It is a large fee simple tract directly off the Parkway with spectacular mountain views. However, the most important feature is this property’s commanding visibility. The property lays like a plateau - it is very steep near the Parkway but flattens out nicely on the top. The building site sits almost 100 feet above the grade of the Parkway. The combination of the elevated building footprint with the site’s position relative to the Parkway results in a property that can be seen by all inbound traffic from 1.55 miles away. That totals an average of 44,456 cars per day for a duration of 3-10 minutes, depending on traffic. While this property has unique topography, it tapers nicely on both sides and already has two points of ingress and egress as delineated below:. • Red light access, Parkway and Conner Heights • Right-in, Right-out access near Golf Road Pigeon Forge had a revenue exceeding $2.17 Billion in 2021 • Lodging Revenue Exceeded $558M • Restaurant Revenue Exceeded $339M • Amusement Revenue Exceeded $429M • Theater Revenue Exceeded $108M • Retail Revenue Exceeded $205M |
Attachments & Media
Additional Details
| Nearest MSA: | Sevierville |
| County: | Sevier |
| Tax ID/APN: | 078095P B 00100 & 095P B 00400 |
| Traffic/Vehicle Count: | 43,554 |
| Area Description: | The property is located within Pigeon Forge’s Tourism Development Zone (TDZ) which may allow for certain incentive programs depending on the size, scope and projected economic impact of a project located within that zone. Pigeon Forge, with only 5,875 permanent residents, had its highest grossing year of all time in 2015, with total revenues generated exceeding $1B. • Lodging Revenue Exceeded $150M • Restaurant Revenue Exceeded $200M • Amusement Revenue Exceeded $200M • Theater Revenue Exceeded $75M |
| Zoning Description: | C1, C2 and C6 zoning on portions of site |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 7,979 | 26,958 |
| Median Age: | 40.4 | 41.03 |
| Households: | 3,102 | 10,578 |
Contact
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