Waterfall Roadside Attraction and Event Venue with Unfinished Cabin

Retail-Commercial for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30768539
Property Subtypes: Free-Standing Building, Street Retail, Other
Building Size (RSF): 4,122 SF
Gross Building Area: See Agent
Gross Land Area: 4.80 Acres
Sale Price: $1,300,000
Unit Price: $315.38 PSF
Property Use Type: Investment, Business
Building Name: Friendly Falls Event Center
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/26/2022

Overview / Comments

This is a rare opportunity to own your own natural waterfall in the Smoky Mountains of East TN! This unique property has operated seasonally as a roadside attraction, gift shop and event center for the past 10 years. There are two lots, one commercial one residential, that total 4.8 acres and cover both sides of the river. The buildings consist of the snack bar/gift shop with a covered deck and long covered walkway overlooking the natural waterfall. Below is the party pavilion for hosting weddings and events and the Magic Gem Mine. The adjacent residential lot hosts an unfinished riverside cabin that has lots of potential as a special overnight rental or vacation home. There are several possibilities to add additional cabins or perhaps glamping sites along the river for a small cabin development. The business is well established and prime for growth.

The property is located on the busy road between the very popular tourist town of Pigeon Forge and the Townsend entrance to the Great Smoky Mountain National Park and is surrounded by many overnight vacation rental cabins. Foothills Parkway and Cades Cove visitors travel this road. It is close to it all but maintains the mountain feel customers love.

Contact Listing Agents to show. Do not disturb business, employees or customers. Financial info available upon request. Owner financing possible with large down payment. This is a rare opportunity that cannot be recreated at any price.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $903 (Annual)

Additional Details

Nearest MSA: Sevierville
County: Sevier
Tax ID/APN: 078104 08430; 078104 084.00
Zoning: C-1 / R-2
Retail Clientele: General, Family
Site Description: The property consists of two lots totaling 4.8 acres, two natural waterfalls on Cove Creek with excellent views and covers both sides of the river. Residential lot contains the unfinished riverside cabin. There is a lot on 321/Wears Valley Rd frontage. Was the former home of the historic Cascades Lodge.
Area Description: Approximately 4.6 miles from the main area of Pigeon Forge, Tennessee and the highway to Gatlinburg. With its proximity to the Great Smoky Mountains National park, Pigeon Forge is a major tourist area with many hotels, attractions, campgrounds, trails for hiking, shopping outlets and entertainment venues. Dolly Parton's Dollywood is within a fifteen minute drive. The area welcomes more than 12 million visitors annually and is growing. From Exit 407 on Interstate 40 South toward Sevierville, the highway becomes the Pigeon Forge Parkway. At the Wears Valley signal light #3, turn right and travel down Wears Valley Rd approximately 4.6 miles to Friendly Falls on the left. The entrance to the venue is fenced.
Total Number of Buildings: 2
Property Condition: Good
Year Built: 1992
Exterior Description: Rustic wood
Parking Type: Surface
Interior Description: Rustic mountain look
Zoning Description: Commercial and residential

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 7,717 13,823
Median Age: 45.56 43.55
Households: 3,113 5,561

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