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.

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

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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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