2575 Parkway, Pigeon Forge, TN 37863
$8,385,000
Property Type:
Commercial Sale
Square Footage:
277,041
Lot Size (sq. ft.):
277,042
Status:
Closed
Current Price:
$8,385,000
List Date:
12/13/2017
Last Modified:
8/23/2024
Overview
Description
This is a rare opportunity for a visionary commercial investor/developer to acquire 6.36 acres at one of the premier locations in the tourist destination city of Pigeon Forge, Tennessee. Located at the northeast corner of Parkway (US 441) and East Wears Valley Road, the property features level topography, excellent highway frontage (approximately 1024 front feet), access, and visibility, and scenic river frontage (approximately 930 feet). The land is improved with The Track - Pigeon Forge, a popular amusement venue, where the operator lessee has a long-term ground lease which expires on 1/1/2027. The City of Pigeon Forge has an easement along the river on the back of the Property which it is developing as part of The Riverwalk Greenway, a public access walking trail. The trail is currently almost 2 miles long, and when completed will stretch for four miles, connecting one side of the city to the other. This will provide tremendous foot traffic to the Property in addition to the highway traffic.
Listing Details MLS# 213603
General Property Information
- Lot Size Dimensions
- 1024///
- Lot Size Acres
- 6.36
- Living Area
- 277041
- Business Name
- N/A
- Bonus Room YN
- No
- Sign On Property YN
- No
- List Price/SqFt
- 37.9
- Sold Price/SqFt
- 30.27
- Number Of Buildings
- 0
- Number of Bonus Rooms
- 0
Property Features
Business Type:
Arts and Entertainment
Community Features:
Sidewalks
Documents Available:
Aerial Photo
Exterior Features:
Lighting
Listing Terms:
Cash; Conventional; Fee Simple Improved
Parking Features:
On Site; Paved
Possession:
Subject To Tenant Rights
Possible Use:
Recreational; Retail; Other
Road Frontage Type:
City Street; Highway
Road Surface Type:
Paved
Utilities:
Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected
Showing Requirements:
Appointment Only; Call Listing Agent; Listing Agent Must Accompany; Restricted Hours
Location Tax and Legal
- Street Number
- 2575
- Street Name
- Parkway
- County
- Sevier
- State
- TN
- Zip Code
- 37863
- Property Sub Type
- Other
- MLS Area Major
- Pigeon Forge
- Subdivision Name
- Other
Contract Information
- Original List Price
- 10500000
- Listing Contract Date
- 2017-12-13
- Owner Name
- Virginia James, LLC
- 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 rare opportunity for a visionary commercial investor/developer to acquire 6.36 acres at one of the premier locations in the tourist destination city of Pigeon Forge, Tennessee. Located at the northeast corner of Parkway (US 441) and East Wears Valley Road, the property features level topography, excellent highway frontage (approximately 1024 front feet), access, and visibility, and scenic river frontage (approximately 930 feet). The land is improved with The Track - Pigeon Forge, a popular amusement venue, where the operator lessee has a long-term ground lease which expires on 1/1/2027. The City of Pigeon Forge has an easement along the river on the back of the Property which it is developing as part of The Riverwalk Greenway, a public access walking trail. The trail is currently almost 2 miles long, and when completed will stretch for four miles, connecting one side of the city to the other. This will provide tremendous foot traffic to the Property in addition to the highway traffic.
- Directions
- From the Parkway in Pigeon Forge, the property is on the Northeast corner of the Parkway and E. Wears Valley Road.
Status Change Information
- Major Change Timestamp
- 2020-05-01T05:38:02Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2020-05-01
- Purchase Contract Date
- 2019-11-05
- Close Date
- 2020-05-01
- Close Price
- 8385000
- Buyer Financing
- Seller Financing
More Information
Currently Not Used
- Book/Page/Doc #
- 3714, 468
Showing Requirements
- Showing Instructions
- Agents: Do not disturb business operations. Listing agent must arrange and accompany all showings.
- Appointment Only
- Yes
- Call Listing Agent
- Yes
- Listing Agent Must Accompany
- Yes
- Restricted Hours
- Yes
Location, Tax, and Legal
- Restrictive Covenants YN
- Yes
- Zoning
- C-2
- Zoning Entity
- Pigeon Forge
- Tax Lot
- --
- Tax Annual Amount
- 42979
- Tax Year
- 2016
Community Features
- Sidewalks
- Yes
Documents Available
- Aerial Photo
- Yes
Exterior Features
- Lighting
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Fee Simple Improved
- Yes
Parking Features
- On Site
- Yes
- Paved
- Yes
Possession
- Subject To Tenant Rights
- Yes
Road Frontage Type
- City Street
- Yes
- Highway
- Yes
Road Surface Type
- Paved
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Phone Available
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Income and Expenses
- Maintenance Expense
- 0
Possible Use
- Recreational
- Yes
- Retail
- Yes
- Other
- Yes
Business Type
- Arts and Entertainment
- Yes
Listing Office:
NAI Koella | RM Moore
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.