117 Bishop Lane, 110/204/210 Bishop Lane, Gatlinburg, TN 37738
$1,175,000
Property Type:
Commercial Sale
Square Footage:
7,776
Lot Size (sq. ft.):
54,014
Status:
Closed
Current Price:
$1,175,000
List Date:
6/16/2017
Last Modified:
8/23/2024
Overview
Description
Listing Details MLS# 210474
General Property Information
- Number Of Buildings
- Yes
- Lot Size Acres
- 1.24
- Living Area
- 7776
- Business Name
- Kingwood Inn
- Year Built
- 1978
- Bonus Room YN
- No
- Sign On Property YN
- Yes
- List Price/SqFt
- 173.61
- Sold Price/SqFt
- 151.11
- Number of Bonus Rooms
- 0
Property Features
Listing Terms:
Cash; Conventional; Fee Simple Improved
Parking Features:
On Site; Paved
Possession:
Close Of Escrow
Possible Use:
Other
Road Frontage Type:
City Street
Road Surface Type:
Paved
Utilities:
Electricity Connected; Sewer Connected; Water Connected
Showing Requirements:
Call Listing Agent
Location Tax and Legal
- Street Number
- 117
- Street Name
- Bishop
- Street Suffix
- Lane
- County
- Sevier
- State
- TN
- Zip Code
- 37738
- Property Sub Type
- Other
- MLS Area Major
- Gatlinburg
- Subdivision Name
- Other
Contract Information
- Original List Price
- 1350000
- Listing Contract Date
- 2017-06-16
- Owner Name
- Kingwood Inn, Inc. & Lillie M. King Res. Trust
- Listing Agreement
- Exclusive Right To Sell
- Rental History Gross Amount 1
- 0
- Rental History Year 1
- 0
- Rental History Gross Amount 2
- 0
- Rental History Year 2
- 0
- Association Fee
- 0
Remarks and Miscellaneous
- Public Remarks
- This is a prime commercial redevelopment site in downtown Gatlinburg. Formerly operated as the Kingwood Inn, much of the improvements were destroyed by fire in 2016. The burn debris has been removed and the site cleaned up. One 3-story 18-room building remains and can be returned to usable condition. However, the property is priced as if vacant for redevelopment. There are no financial operating records available. The property is located adjacent to Arrowmont School of Arts & Crafts and Pi Beta Phi Elementary School. It is a short walking distance to the Parkway, Aquarium of the Smokies, and the new Anakeesta Aerial Adventure Park. The main property consists of an area of 0.92-acre. There is an additional 0.32-acre tract that is close to but not contiguous with the main property. These properties are offered as an aggregate, but may be purchased separately as follows: Parcels 005 & 007: $1,000,000 (MLS #218370). Parcels 002 & 003: $350,000 (MLS #218371).
- Directions
- From intersection of Cherokee Orchard Road and Bishop Lane in downtown Gatlinburg, proceed 800 feet to the property at the end of Bishop Lane.
Status Change Information
- Major Change Timestamp
- 2019-05-06T05:37:47Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2019-05-06
- Purchase Contract Date
- 2018-12-05
- Close Date
- 2019-05-06
- Close Price
- 1175000
- Buyer Financing
- Cash
More Information
Currently Not Used
- Book/Page/Doc #
- 448, 684
Showing Requirements
- Showing Instructions
- Square footage was taken from tax records and presumed to be accurate but not guaranteed. Buyer should verify. MLS #'s 218370 and 218371 were included in the sale of this property.
- Call Listing Agent
- Yes
Location, Tax, and Legal
- Zip +4
- 3340
- Street Additional Info
- 110/204/210 Bishop Lane
- Restrictive Covenants YN
- No
- Zoning
- C-2
- Zoning Entity
- Gatlinburg
- Tax Lot
- 10,12,14
- Tax Annual Amount
- 6014
- Tax Year
- 2017
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Fee Simple Improved
- Yes
Parking Features
- On Site
- Yes
- Paved
- Yes
Possession
- Close Of Escrow
- Yes
Road Frontage Type
- City Street
- Yes
Road Surface Type
- Paved
- Yes
Utilities
- Electricity Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Income and Expenses
- Maintenance Expense
- 0
Possible Use
- Other
- Yes
Listing Office:
NAI Koella | RM Moore
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.