Multi-Family and Commercial Development Site

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30580135
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Status: Pending/Contingent
Building Size (RSF): 7,223 SF
Gross Building Area: See Agent
Gross Land Area: 8 Acres
Sale Price: $2,049,000
Unit Price: $283.68 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/9/2021

Overview / Comments

This assemblage of three parcels is located on the north side of Wears Valley Road (US 321) within the city limits of Pigeon Forge. It is located 1.8 miles west of the intersection of Wears Valley Road and the Parkway (US 441). There is highway frontage and ready access. The front acres (approximately 1.85 acres) seem well suited for commercial mixed-use development and the back acres (approximately 6.2 acres) for multifamily development. This assemblage of three parcels with about 8 total acres presents an attractive redevelopment opportunity within the city limits of Pigeon Forge, a primary tourist destination. The property seems well suited for substantial multifamily development on the back and commercial on the front. The parcel in the middle is zoned commercial in the front and residential in the back. The front part is improved with a retail store and a warehouse. The back part of the middle parcel and the other two parcels are unimproved. The front part of the property with street access is generally level and the remainder is rolling and largely wooded.

This property is part of three adjacent listings with a combined acreage of approximately 11 acres. Contact the listing brokers for possibilities to purchase a combination of these properties.

. High traffic count, outstanding visibility and access
. All municipal utilities are available
. Partially Zoned C-6 Commercial and partially R-2 High Density Residential
. About 182 front feet on US Highway 321 (Wears Valley Road)
. Improvements are leased short-term

Attachments & Media

Additional Details

Nearest MSA: Sevierville
County: Sevier
Tax ID/APN: 093 133.00, 140.00, 141.00
Zoning: C-6 & R-2
Property Located Between: White Falcon Way and Chapel Way
Property Visibility: Excellent
Largest Nearby Street: Wears Valley Road
Feet of Frontage: 182
Highway Access: Wears Valley Road
Site Description: Three land parcels totaling approximately 8 acres, improved with a retail store and warehouse. Street access is generally level and the remaining acreage is rolling and largely wooded.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Property Condition: Average
Year Built: 1997
Parking Type: Surface
Parking Description: Onsite
Zoning Description: C-6 and R-2
Lot Frontage: 182
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Map 093, Parcels 133.00, 140.00, & 141.00

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,660 8,136 25,637
Median Age: 40.87 40.36 40.77
Households: 634 3,184 10,200

Contact

Photograph of Listing Agent

David L. Gothard

NAI Koella | RM Moore KAAR CIE Member
Photograph of Listing Agent

August Timisela

NAI Koella | RM Moore KAAR CIE Member
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