Gatlinburg Investment Property (100% Leased)
Retail-Commercial
for Sale
| Catylist Listing ID: |
30640102 |
| Property Subtypes: |
Mixed Use, Restaurant, Street Retail, Other
|
| Building Size (RSF): |
5,733 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.62 Acres
|
| Sale Price: |
$695,000 |
| Unit Price: |
$121.23 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Building Name: |
Glades Village |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Cap Rate: |
8.5% |
| Last Updated: |
4/19/2021 |
Overview / Comments
|
Glades Village has been a staple of the Gatlinburg Arts and Crafts Community for many years. The property has been actively managed and maintained for the previous sixteen years. Renovations have taken place as needed and as recently as 2020. The property consists of 5,733 rentable square feet with an additional structure leased to the City of Gatlinburg for public restrooms. Five buildings and nine tenants make up the property with gravel parking for tenants and visitors. Glades Village is directly located on a eight mile loop of the Gatlinburg Arts and Crafts Community, which has been designated as a Tennessee Heritage Arts and Crafts Trail. Located approximately three miles from downtown Gatlinburg and on the Gatlinburg Trolley Route.
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Additional Details
| Nearest MSA: |
Sevierville |
| County: |
Sevier |
| Tax ID/APN: |
078117 16000 |
| Zoning: |
C5 |
| Retail Clientele: |
Family, Traveler, Tourist, Recreation |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Glades Road |
| Traffic/Vehicle Count: |
5,558 |
| Highway Access: |
Approximately 1.5 miles from East Parkway / Hwy 321 |
| Site Description: |
At corner of Glades Road and Powdermill Road |
| Area Description: |
The Arts and Crafts Community is the largest independent organization of artisans in the United States. With over one hundred artists and craftsmen, the Gatlinburg's Arts and Crafts Community is a tribute to the history of Tennessee. The community is located on a eight mile loop road that is designated a Tennessee Heritage Arts and Crafts Trail. The arts and crafts community is located three miles from Downtown Gatlinburg and also can be reached via the yellow Trolley from downtown. |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
5 |
| Number of Stories: |
2 |
| Property Condition: |
Good |
| Construction/Siding: |
Wood Frame, Wood Siding, Wood Shingle |
| Parking Type: |
Surface |
| Lot Frontage: |
217' |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,643 |
5,407 |
8,780 |
| Median Age: |
47.79 |
45.34 |
44.26 |
| Households: |
695 |
2,264 |
3,692 |
|
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