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
Description
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).
More Information MLS# 210474
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
Contract Information
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
Current Price: $1,175,000
Original List Price: 1350000
Sold Price: $1,175,000
Status: Closed
Listing Contract Date: 2017-06-16
General Property Information
Number Of Buildings: 1
Lot Size Acres: 1.24
Business Name: Kingwood Inn
Bonus Room YN: No
Number of Bonus Rooms: 0
Sign On Property YN: Yes
List Price/SqFt: 173.61
Sold Price/SqFt: 151.11
Living Area: 7776
Year Built: 1978
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
Status Change Timestamp: 2019-05-06
Buyer Financing: Cash
Major Change Timestamp: 2019-05-06T05:37:47Z
Major Change Type: Status Change
Purchase Contract Date: 2018-12-05
Close Date: 2019-05-06
Close Price: 1175000
Currently Not Used
Book/Page/Doc #: 448, 684
Listing Terms
Cash: 1
Conventional: 1
Fee Simple Improved: 1
Parking Features
On Site: 1
Paved: 1
Possession
Close Of Escrow: 1
Road Frontage Type
City Street: 1
Road Surface Type
Paved: 1
Utilities
Electricity Connected: 1
Sewer Connected: 1
Water Connected: 1
Income and Expenses
Maintenance Expense: 0
Possible Use
Other: 1
Showing Requirements
Call Listing Agent: 1
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.
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
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
Listing Office:
NAI Koella | RM Moore
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.