110 Unit Pigeon Forge Hotel At Traffic Light #8 Turning Into Dollywood

Hospitality for Sale
Catylist Listing ID: 30060909
Property Subtypes: Hotel, Motel, Other
Number of Units: 110 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 2.44 Acres
Sale Price: $3,800,000
Unit Price: $34,545.45 Per Unit
Ceiling: 8 ft.
Property Use Type: Investment
Building Name: Riverchase Motel
Name of Establishment: Riverchase Motel
Franchise Parent Name: Independent Operator
Sale Terms: Cash to Seller, Owner Financing, Other
Cap Rate: Undisclosed
Last Updated: 6/21/2018

Overview / Comments

5 Star Location! Rustic cabin themed motel at the corner of Pigeon Forge Parkway and Dollywood Lane. Indoor and outdoor pools with family fun water slides. 4 floors. 110 rooms.
Swimming pools and front part of the hotel are on red light hard corner on fee simple land which is being transferred with sale of hotel. Back half of hotel is on a land lease with 14 years remaining.

Traffic Light #8 in Pigeon Forge. Traffic light #8 is the turn off the Parkway onto Dollywood Lane.

The Riverchase Motel offers standard rooms with coffeemakers and refrigerators. Some suites have whirlpool tubs, kitchenettes, living areas and/or updated modern-rustic style furnishings.

Amenities include an outdoor pool with a 45-foot-long water-slide, and an indoor pool with a 100-foot-long slide.

Approximately a 4-minute walk from the Dixie Stampede dinner show, +/-0.8 miles from the Gatlinburg Golf Course, and the Smoky Mountain Convention Center, and +/-3.8 miles from Dollywood.

Another great amenity, the motel sits right on the Pigeon Forge Fun Time Trolley route!

Additional Details

Nearest MSA: Sevierville
County: Sevier
Taxing Authority: Sevier County and City of Pigeon Forge
Zoning: C-2
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: At the hard corner of the Parkway and Dollywood Lane along River Road
Property Visibility: Excellent
Largest Nearby Street: US 441 S
Feet of Frontage: 200
Highway Access: Direct on to the Parkway in Pigeon Forge, and multiple access points onto River Road, and Dollywood Lane
Site Description: Level Developed site at Road Grade
Area Description: Parkway in Pigeon Forge,
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Fair
Year Built: 1982
Year Renovated: 2008
Roof Type: Gable
Water Recreation: Indoor Pool, Outdoor Pool, Water Slide
Total Parking Spaces: 130
Passenger Elevators: 1
Sprinklers: None
Laundry: Shared

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,616 7,979 25,756
Median Age: 45.8 40.4 40.64
Households: 642 3,102 10,185


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