For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $2,430,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 5,638 sqft
Price per Sqft $431
MLS Listing ID 242313
Sold Date 12/30/21
Year Built 1994
Annual Tax Amount $3,702
Tax Year 2019
Lot Size 13.700 Acres
Acres 13.7
Property Sub-Type Other
Source Great Smoky Mountains Association of REALTORS®
Property Description
8 Cabins on 13 Acres right off the Spur/Parkway with possible 5 to 8 extra building lots. Own a Mountain in the Smokies and create your own retreat! Build a pool amenity with game room & putt putt golf and guest will love it. Five 1 bedroom/1 bath, One Studio, One 2 bedroom/1 bath, and One 2 bedroom/2bath cabins. All cabins have fire pits and Five cabins have magnificent views. If you are looking to self manage, this is a winner. Current owner would be willing to work with new purchaser to teach and take over website. The seller has mastered renting in the Smokies and is willing to share. All cabins need to be cleaned and stained, change out some carpet, updating of furnishings, and smart TV's. Location is the key to the success! Rate of Return at current income is 10.19%. Improve properties and add more cabins to property and watch the income. Yearly /Expenses: Advertising $21,122, Insurance $4,902, Repairs & Maintenance $6,524, Supplies $953, Taxes $3,881, TV/Internet/Utilities $20,240, Pest/Security/Road Maintenance $6,125. Net income of $285,227 for 2020. Water tower supplies all water to all 8 cabins. 13 acres are on two parcels.
Location
State TN
County Sevier
Zoning A-1
Direction Travel South on Parkway from Pigeon Forge onto the Spur, go to the first left and cross over river, go left and take immediate right onto King Branch, Go about .08 miles take left at Honey Bears sign, Go uphill and go through gate and follow signs to cabins.
Rooms
Basement Dirt Floor, Exterior Entry, Partial, Partially Finished
Interior
Heating Central, Electric, Heat Pump
Cooling Electric, Heat Pump, Humidity Control
Exterior
Parking Features On Site
Utilities Available Electricity Available, Water Connected
Street Surface Gravel
Road Frontage County Road, Easement, Private Road
Building
Building Description Cedar,Log Siding, Furniture
Sewer Septic Tank
Structure Type Cedar,Log Siding
Others
Acceptable Financing 1031 Exchange, Cash, Conventional, Fee Simple Improved
Listing Terms 1031 Exchange, Cash, Conventional, Fee Simple Improved
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP