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: 1/11/2022

Overview / Comments

This commercially-zoned property presents an attractive redevelopment opportunity within the city limits of Pigeon Forge, a primary tourist destination. The combination of adjoining parcels totals approximately 6.8 acres. Each of the two parcels that front Wears Valley Road is improved with a residential building that is currently rented. The other three parcels, two of which are partial tax parcels, total approximately 5.24 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 total tax amount for 2019 is based on Parcels 133, 145, and 146. Tax amounts for the portions of Parcels 140 and 141 that are included in the sale have not been determined yet.

. High traffic count; outstanding visibility and access
. 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)

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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