Condo Lots - Build 45 Condos with Lake/Mountain Views

Vacant Land for Sale
Catylist Listing ID: 30834688
Property Subtypes: Multi-Family, Residential (Single Family), Vacation/Resort
Gross Land Area: 2.46 Acres
Sale Price: $675,000
Unit Price: $274,390 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/28/2023

Overview / Comments

Highly sought after vacant buildable C-1 zoned parcels on peninsula overlooking Douglas lake on both sides and magnificent views of the Smoky Mountains. Located within Timberlake Bay private gated community at Sanctuary Shores on the shores of Douglas Lake in Sevierville TN. 3 Individual adjacent lots being sold together. Dedicated as Condominium Development parcels by the Timberlake Bay community with 15 condo's per lot allowed (totaling 45 for 3 lot total parcel development). 1:1 buildable square foot ratio of living space to land area (excluding parking and decks to equal land area for each lot). 35’ Building height for 2 story condo development encompassing up to approximately 107,000/sq’ of air conditioned living space. Also has previously approved by TVA dock extension with additional 6 boat slips for developer (developer to re-apply for dock extension). Community boasts wonderful lake views, beautiful club house and swimming pool. Overnight Rentals, long term rentals and permanent residential are all allowed. Within minutes to downtown Sevierville, Pigeon Forge, Gatlinburg and the Great Smoky Mountains National Park. Utility connections to city water and community sewer. Excellent road frontage. Electricity and fibre optic high speed internet connection available at street.

Additional Details

Nearest MSA: Sevierville
County: Sevier
Taxing Authority: Sevier County
Tax ID/APN: 078029E E 101.00/102.00/103.00
Zoning: C-1
Property Located Between: Within Sanctuary Shores private gated community
Property Visibility: Good
Largest Nearby Street: Flat Creek Rd
Feet of Frontage: 1,125
Highway Access: Hwy 411 (Newport Hwy) within 5-7 minutes
Airports: Gatlinburg Pigeon Forge Airport is 9 miles away. McGhee Tyson Knoxville is 41 miles west
Site Description: 3 x individual C-1 parcels within gated lakefront community. Access off Sanctuary Shores Way. Mostly cleared. Slightly rolling grade. Easily leveled. Lake views from ground level as well as great views of the Smoky Mountains. Utilities (electrical, water, sewer, fibre optic) available at street. Allocated within community covenants as condominium buildable (up to 15 condos per lot, totaling 45 across 3 lots). Access to community club house and pool. Possible boat dock extension for use of future condo residents/guests. 1:1 buildable ratio up to 35' high.
Area Description: Douglas Lake is located in the foothills of the Great Smoky Mountains. The lake attracts more than 1.7 million visitors a year. Surrounded by mountains and rolling hills, Douglas Lake offers a variety of activities year round such as boating, fishing, camping, and swimming. The area of Rankins Bottom is one of the best birding areas in East Tennessee. The major towns around the lake are Sevierville, Dandridge, Newport, and White Pine. The major tourist towns of Sevierville, Pigeon Forge, and Gatlinburg are located within a short drive of the lake along less trafficked, scenic roads. Douglas Lake has become the premier crappie lake in East Tennessee and is rated one of the top five crappie fishing lakes in the nation. It is also in the top 10 in the nation for largemouth bass and hosts many professional tournaments in the spring and fall. The lake is fed by 3 rivers and two of those the French Broad River and Nolichucky River, which offer great fly fishing. This lakefront gated community within Sanctuary Shores at Timberlake Bay is ideally located only minutes from the 411 Hwy for access to shops, services, local attractions and everything there is to do and experience on Douglas Lake and the Great Smoky Mountains National Park
Zoning Description: C-1 zoned for building
Part of Planned Development?: Yes
Development Name: Timberlake Bay
Topography: Rolling
Soil Type: Mixed
Available Utilities: Electric, Water, Sewer, Storm Drain, Cable, Broadband
Water Service: Municipal
Sewer Type: Other

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,445 17,043
Median Age: 38.83 43.15
Households: 1,691 6,992


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