Gatlinburg Entitled 112 Unit Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30773945
Property Subtypes: Hospitality, Multi-Family, Vacation/Resort, Other
Gross Land Area: 6.71 Acres
Sale Price: $2,500,000
Unit Price: $372,578 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 1/24/2022

Overview / Comments

Located near the boundary of the Great Smoky Mountains National Park off East Parkway/ Highway 321. The property is (4) miles from Downtown Gatlinburg near Rocky Top Sports World, Gatlinburg Pittman High School, Gatlinburg Community Center, and Mills Park.

The City of Gatlinburg has approved the Development Site plan of 6.71 acres and a total of (32) buildings. Consisting of (16) six-unit buildings and (16) single unit buildings for a total of (112) units. The site has city sewer and water to about half the property.

A “turn-key” opportunity with a fully assembled team including engineer, architect, project manager, and builder for a buyer.

Attachments & Media

Additional Details

Nearest MSA: Sevierville
County: Sevier
Taxing Authority: Sevier County/ City of Gatlinburg
Tax ID/APN: 078118 08700
Zoning: C2 COMMERCIAL CITY OF GATLINBURG
Property Visibility: Good
Largest Nearby Street: Hwy 321
Feet of Frontage: 460
Traffic/Vehicle Count: 13,388
Highway Access: Highway 321
Site Description: Gently Rolling Property with some gravel roads and site work completed.
Lot Frontage: 460'
Development Name: Mills Park Village
Topography: Rolling
Available Utilities: Electric, Water, Gas, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,643 4,498 8,512
Median Age: 47.79 45.92 43.78
Households: 695 1,895 3,557

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