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Vacant-User

Pigeon Forge Redevelopment Opportunity

2850 US-441 Scenic, Pigeon Forge, TN 37863

Listing Price: $7,900,000

Cap Rate
6.40%
Gross SF
121,101
Rentable SF
121,101
Price/Gross SF
$65.23
Lot Size
9.33 acres
Year Built
1982

Investment Overview

Marcus & Millichap exclusively offers the opportunity to acquire fee-simple interest in a 9.59 acre site located in the heart of Pigeon Forge that presents several possible redevelopment scenarios. Close proximity to all major demand drivers in this market and a significant desire from local planning authorities to have this property modernized present a very unique redevelopment opportunity. The subject property is located on the main traffic artery in Pigeon Forge with excellent visibility due to its significant elevation above grade. Currently improved with 5 buildings containing a total of 121,101 square feet., the property is partially occupied by four tenants each on a month-to-month lease. These tenants can be removed to allow for redevelopment, but will offer current income to carry the property while a redevelopment plan is implemented.

Investment Highlights

  • Current Income Minimizes Carry Costs
  • Current Zoning is Flexible and Offers a Broad Range of Redevelopment Options
  • Large Parcel Located at Center of Commercial District in a Constrained Market Area

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Vacant-User

Pigeon Forge Redevelopment Opportunity

Listing Price: $7,900,000

Cap Rate
6.40%
Gross SF
121,101
Rentable SF
121,101
Price/Gross SF
$65.23
Lot Size
9.33 acres
Year Built
1982

Investment Highlights

  • Current Income Minimizes Carry Costs
  • Current Zoning is Flexible and Offers a Broad Range of Redevelopment Options
  • Large Parcel Located at Center of Commercial District in a Constrained Market Area

Investment Overview

Marcus & Millichap exclusively offers the opportunity to acquire fee-simple interest in a 9.59 acre site located in the heart of Pigeon Forge that presents several possible redevelopment scenarios. Close proximity to all major demand drivers in this market and a significant desire from local planning authorities to have this property modernized present a very unique redevelopment opportunity. The subject property is located on the main traffic artery in Pigeon Forge with excellent visibility due to its significant elevation above grade. Currently improved with 5 buildings containing a total of 121,101 square feet., the property is partially occupied by four tenants each on a month-to-month lease. These tenants can be removed to allow for redevelopment, but will offer current income to carry the property while a redevelopment plan is implemented.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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