Ramada Pigeon Forge South

Hospitality for Sale
Sale Pending/Contingent
Catylist Listing ID: 30290473
Property Subtypes: Convention Center, Hotel
Status: Pending/Contingent
Number of Units: 122 Units
Building Size (RSF): 75,852 SF
Gross Building Area: See Agent
Gross Land Area: 6 Acres
Sale Price: $8,000,000
Unit Price: $65,573.77 Per Unit
Property Use Type: Investment
Building Name: Ramada Pigeon Forge South
Name of Establishment: Ramada Pigeon Forge South
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/31/2018

Overview / Comments

Ramada Pigeon Forge South and Smoky Mountain Convention Center is a well-maintained, stabilized hospitality property that is convenient to a wide variety of tourist attractions, restaurants, and shops. The hotel offers a variety of amenities and room types, including some with fireplaces, private balconies, and jetted tubs. The fee simple property is improved with a 122-room, 3-story, limited service, exterior corridor hotel, an outdoor pool, and a separate 21,050 sq.ft. convention center. The 5.98-acre site includes about 2 acres of excess land that offers elevated and unobstructed views, and would be ideal for hotel expansion or development of a new hotel concept.

Owner requires 48 hours' notice for showings.

Fee Simple Ownership
Unencumbered of Management
Strong Historical Performance
21,050 sq.ft. Convention Center - 8 meeting rooms can accommodate 1,000 conference guests or 800 banquet guests
Includes Two Acres of Excess Land for Expansion of Hotel or Development of New Hotel Franchise. Costs of land without direct highway frontage can be $500,000 per acre or more.

Attachments & Media

Additional Details

Nearest MSA: Sevierville
County: Sevier
Tax ID/APN: 094M A 005.02 & 005.04
Zoning: C-1
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention
Property Visibility: Excellent
Largest Nearby Street: Parkway (US 441)
Feet of Frontage: 155
Highway Access: Parkway (US 441)
Site Description: 5.98-acre commercial tract, improved with a 3-story hotel and separate 21,050 sq. ft. convention center. Excellent Parkway visibility and easy access.
Area Description: Located on the south end of the Parkway (US 441) in the tourist town of Pigeon Forge, on the southbound side, convenient to a wide variety of tourist attractions, restaurants, and shops.
Nearby Attractions: Great Smoky Mountains National Park, Ober Gatlinburg Ski Resort, Ripley's Aquarium of the Smokies, Glades Road Arts and Crafts Community, WonderWorks, Smoky Mountain Opry, The Titanic Museum, numerous music theaters, restaurants, and retail shops.
Total Number of Buildings: 2
Number of Stories: 3
Property Condition: Good
Year Built: 1991
Water Recreation: Outdoor Pool, Hot Tub
Parking Type: Surface
Parking Description: Onsite, paved
Zoning Description: C-1
Lot Frontage: 155
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Map 094M, Group A, Parcels 005.02 and 005.04, Lots 38 and 3A

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 7,979 26,958
Median Age: 40.4 41.03
Households: 3,102 10,578

Contact

Photograph of Listing Agent

David L. Gothard

NAI Koella | RM Moore KAAR CIE Member
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