4160 Parkway, Pigeon Forge, TN 37863
$3,000,000
Property Type:
Commercial Sale
Square Footage:
46,614
Lot Size (sq. ft.):
108,900
Status:
Closed
Current Price:
$3,000,000
List Date:
8/18/2015
Last Modified:
8/23/2024
Overview
Description
Sperry Van Ness/R.M.Moore, LLC is pleased to exclusively offer for sale the Rodeway Inn and Smoky Mountain Pancake House, located on the Parkway (US 441) in the Smoky Mountains resort city of Pigeon Forge. The property site consists of 2.5 commercially zoned acres improved with three hotel buildings, an outdoor pool, and a free-standing restaurant building. This older exterior corridor, limited service property is well-maintained and operated by experienced local hoteliers. It has superior Parkway visibility and access. The operations of the free-standing 6,528 sq.ft. restaurant do not contribute positively to NOI, and in fact are a drain on it. As an alternative, the restaurant could be net leased to an independent operator, providing an excellent upside for the property.
Listing Details MLS# 198566
General Property Information
- Number Of Buildings
- 4
- Lot Size Dimensions
- 720/200//
- Lot Size Acres
- 2.5
- Living Area
- 46614
- Business Name
- Rodeway Inn
- Year Built
- 1968
- Bonus Room YN
- No
- Sign On Property YN
- No
- List Price/SqFt
- 64.36
- Sold Price/SqFt
- 64.36
- Number of Bonus Rooms
- 0
Property Features
Building Features:
Fixtures; Furniture; Reception Area; Restrooms
Business Type:
Hotel/Motel
Community Features:
Sidewalks
Construction Materials:
Masonry; Steel Frame
Exterior Features:
Lighting
Levels:
Three Or More
Listing Terms:
Cash; Conventional; Fee Simple Improved
Parking Features:
On Site; Paved
Possession:
Negotiable
Possible Use:
Other
Road Frontage Type:
City Street; Highway
Road Surface Type:
Paved
Utilities:
Electricity Connected; Phone Available; Sewer Connected; Water Connected
Showing Requirements:
Appointment Only; Call Listing Agent
Location Tax and Legal
- Street Number
- 4160
- Street Name
- Parkway
- County
- Sevier
- State
- TN
- Zip Code
- 37863
- Property Sub Type
- Other
- MLS Area Major
- Pigeon Forge
- Subdivision Name
- Conner Heights
Contract Information
- Original List Price
- 3000000
- Listing Contract Date
- 2015-08-18
- Owner Name
- Five Hotels, Inc.
- 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
- Sperry Van Ness/R.M.Moore, LLC is pleased to exclusively offer for sale the Rodeway Inn and Smoky Mountain Pancake House, located on the Parkway (US 441) in the Smoky Mountains resort city of Pigeon Forge. The property site consists of 2.5 commercially zoned acres improved with three hotel buildings, an outdoor pool, and a free-standing restaurant building. This older exterior corridor, limited service property is well-maintained and operated by experienced local hoteliers. It has superior Parkway visibility and access. The operations of the free-standing 6,528 sq.ft. restaurant do not contribute positively to NOI, and in fact are a drain on it. As an alternative, the restaurant could be net leased to an independent operator, providing an excellent upside for the property.
- Directions
- On the Parkway (US 441) in Pigeon Forge, the property is at the signalized intersection of Parkway and Conner Heights Rd.
Status Change Information
- Major Change Timestamp
- 2016-01-25T06:36:34Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2016-01-25
- Purchase Contract Date
- 2015-12-10
- Close Date
- 2016-01-25
- Close Price
- 3000000
- Buyer Financing
- Cash
More Information
Currently Not Used
- Book/Page/Doc #
- 554, 442
Showing Requirements
- Showing Instructions
- Agents: Please do not disturb business operations. Contact listing agent to arrange showings.
- Appointment Only
- Yes
- Call Listing Agent
- Yes
Location, Tax, and Legal
- Restrictive Covenants YN
- Yes
- Zoning
- C-2
- Zoning Entity
- Pigeon Forge
- Tax Lot
- 53-66
- Tax Annual Amount
- 21713
- Tax Year
- 2014
Community Features
- Sidewalks
- Yes
Construction Materials
- Masonry
- Yes
- Steel Frame
- Yes
Exterior Features
- Lighting
- Yes
Levels
- Three Or More
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Fee Simple Improved
- Yes
Parking Features
- On Site
- Yes
- Paved
- Yes
Possession
- Negotiable
- Yes
Road Frontage Type
- City Street
- Yes
- Highway
- Yes
Road Surface Type
- Paved
- Yes
Utilities
- Electricity Connected
- Yes
- Phone Available
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Income and Expenses
- Maintenance Expense
- 0
Possible Use
- Other
- Yes
Building Features
- Fixtures
- Yes
- Furniture
- Yes
- Reception Area
- Yes
- Restrooms
- Yes
Business Type
- Hotel/Motel
- Yes
Listing Office:
Sperry Van Ness/R M Moore, LLC
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.