Commercial Redevelopment Site in Pigeon Forge

Retail-Commercial for Sale
Catylist Listing ID: 30579756
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 4,394 SF
Gross Building Area: See Agent
Gross Land Area: 6.84 Acres
Sale Price: $2,200,000
Unit Price: $500.68 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/5/2022

Overview / Comments

This combined commercially and residentially-zoned property presents an attractive redevelopment opportunity within the city limits of Pigeon Forge, a primary tourist destination. The property is located on Wears Valley Road, a high traffic 5-lane artery with a median for convenient ingress and egress.

The combination of adjoining parcels totals approximately 6.95 acres.
The two parcels that front Wears Valley Road are commercially zoned )C-6) with a combined acreage of 1.55 acres and each of the two is improved with a residential building that is currently rented.

The other three parcels, two of which are partial tax parcels, total approximately 5.40 acres and are mostly zoned R-2 for high density residential development. A small portion is being rezoned to R-2. Access to the R-2-zoned parcels will be through the front two C-6 zoned parcels.

The property can be an outstanding fit for commercial use in the front, like restaurants and food services, professional services and retail/sales, and cabin and residential development in the back property.

- High traffic count
- Outstanding visibility
- All municipal utilities are available
- Zoned C-6 Commercial and R-2 High Density Residential
- Approximately 160 front feet on US Highway 321 (Wears Valley Road)
- Good accessibility from 5 lane road with median

Attachments & Media

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $2,093 (Annual)

Additional Details

Nearest MSA: Sevierville
County: Sevier
Tax ID/APN: 093 133.00, p/o 140.00; p/o 141.00, 145.00 & 146.00
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: 160
Highway Access: Wears Valley Road
Site Description: Several parcels with frontage on Wears Valley Road, improved with two residential structures that are currently rented.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Property Condition: Average
Year Built: 1964
Parking Type: Surface
Parking Description: Onsite
Zoning Description: C-6 Commercial; R-2 High Density Residential
Lot Frontage: 160
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Map 093, Parcels 133.00, p/o 140.00, p/o 141.00, 145.00 & 146.00

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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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