Premier Tourist Destination Tract

Vacant Land for Sale
Catylist Listing ID: 30185808
Property Subtypes: Hospitality, Retail, Retail-Pad, Vacation/Resort
Gross Land Area: 6.41 Acres
Sale Price: $10,500,000
Unit Price: $1,638,065 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/13/2018

Overview / Comments

This is a rare opportunity for a visionary commercial investor/developer to acquire 6.4123 acres at one of the premier locations in the tourist destination city of Pigeon Forge, Tennessee. Located at the northeast corner of the Parkway (US 441) and East Wears Valley Road, the property features level topography, excellent highway frontage, access, and visibility, and scenic river frontage. The land is improved with The Track - Pigeon Forge, a popular amusement venue, where the lessee business owner has a long-term ground lease which expires in about 9 years (1/1/2027).

The City of Pigeon Forge has an easement along the river on the back of the Property which it is developing as part of The Riverwalk Greenway, a public access walking trail. The trail is currently almost 2 miles long, and when completed will stretch for four miles, connecting one side of the city to the other. This will provide tremendous foot traffic to the Property in addition to the highway traffic.

Signalized corner tract at this tourist city's busiest intersection
50,356 average daily traffic count (T.D.O.T.)
About 1024 front feet on the Parkway (US 441)
About 930 feet on West Prong of Little Pigeon River

Additional Details

Nearest MSA: Sevierville
County: Sevier
Tax ID/APN: 083 087.00
Zoning: C-2 GENERAL COMMERCIAL
Property Located Between: Parkway and East Wears Valley Road
Property Visibility: Excellent
Legal Description: Map 083, Parcel 087.00
Largest Nearby Street: Parkway (US 441)
Feet of Frontage: 1,024
Traffic/Vehicle Count: 50,356
Highway Access: Parkway (US 441); East Wears Valley Road
Site Description: Level topography; excellent highway frontage, access, and visibility; scenic river frontage; corner property at signalized intersection
Area Description: Located in the heart of the Pigeon Forge tourist district. Pigeon Forge, Sevierville, and Gatlinburg are the three cities in Sevier County, Tennessee, a major drive-to tourist destination that attracts about 15 million annual visitors. The majority of visitors live within 500 miles of the area. Area attractions include The Island, LeConte Center at Pigeon Forge, The Ripken Experience Pigeon Forge, music and dinner theaters, outlet shopping, numerous restaurants, hotel/motels, and retail shops, the Great Smoky Mountains National Park, hiking trails, and trout fishing streams.
Lot Frontage: 1024
Zoning Description: C-2
In Flood Plain?: Yes
Easements: Other
Easements Description: The City of Pigeon Forge has an easement along the river on the back of the Property which it is developing as part of The Riverwalk Greenway, a public access walking trail.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,616 11,107 22,559
Median Age: 45.8 37.61 39.4
Households: 642 4,164 8,914

Contact

Photograph of Listing Agent

David L. Gothard

NAI Koella | RM Moore KAAR CIE Member
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