313 Baskins Creek Road, Gatlinburg, TN 37738
$1,320,000
Property Type:
Commercial Sale
Square Footage:
6,245
Lot Size (sq. ft.):
24,394
Status:
Closed
Current Price:
$1,320,000
List Date:
12/04/2017
Last Modified:
8/23/2024
Description
Charming vintage motel located in the heart of downtown Gatlinburg. All 19 guest rooms were renovated in 2016/2017, including new furniture case goods, mattresses, flooring, refrigerators, smaller profile GE PTAC units, cultured marble shower enclosures, and bathroom fixtures. In addition to the guest rooms and motel office building, there is a 4-bedroom, 2 bathroom owner's/manager's cottage with a motel laundry room. The cottage could be converted to a guest rental unit. Similar downtown cottages have been known to generate $25,000 or more in annual revenues.
More Information MLS# 213475
Location, Tax, and Legal
Restrictive Covenants YN: Yes
Zoning: C-2
Zoning Entity: Gatlinburg
Tax Lot: 70
Tax Annual Amount: 5094
Tax Year: 2016
Contract Information
Owner Name: Wynn
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: $1,320,000
Original List Price: 1400000
Sold Price: $1,320,000
Status: Closed
Listing Contract Date: 2017-12-04
General Property Information
Number Of Buildings: 2
Lot Size Acres: 0.56
Business Name: Resort City Motel
Bonus Room YN: No
Number of Bonus Rooms: 0
Sign On Property YN: No
List Price/SqFt: 224.18
Sold Price/SqFt: 211.37
Living Area: 6245
Year Built: 1950
Remarks and Miscellaneous
Public Remarks: Charming vintage motel located in the heart of downtown Gatlinburg. All 19 guest rooms were renovated in 2016/2017, including new furniture case goods, mattresses, flooring, refrigerators, smaller profile GE PTAC units, cultured marble shower enclosures, and bathroom fixtures. In addition to the guest rooms and motel office building, there is a 4-bedroom, 2 bathroom owner's/manager's cottage with a motel laundry room. The cottage could be converted to a guest rental unit. Similar downtown cottages have been known to generate $25,000 or more in annual revenues.
Directions: From the Parkway (US 441) headed from Pigeon Forge into Gatlinburg, the property is near the corner of Cherokee Orchard Road and Baskins Creek Road.
Status Change Information
Status Change Timestamp: 2018-05-17
Buyer Financing: Conventional
Major Change Timestamp: 2018-05-17T05:38:01Z
Major Change Type: Status Change
Purchase Contract Date: 2018-02-26
Close Date: 2018-05-17
Close Price: 1320000
Currently Not Used
Book/Page/Doc #: 4637, 249
Construction Materials
Stone: 1
Wood Siding: 1
Levels
One: 1
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
Natural Gas Connected: 1
Phone Available: 1
Sewer Connected: 1
Water Connected: 1
Income and Expenses
Maintenance Expense: 0
Possible Use
Other: 1
Building Features
Reception Area: 1
Business Type
Hotel/Motel: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Showing Instructions: Agents: DO NOT disturb or discuss property with employees. Contact listing agent to arrange showings with owner.
Location Tax and Legal
Street Number: 313
Street Name: Baskins Creek
Street Suffix: Road
County: Sevier
State: TN
Zip Code: 37738
Property Sub Type: Other
MLS Area Major: Gatlinburg
Subdivision Name: Other
Property Features
Building Features: Reception Area
Business Type: Hotel/Motel
Construction Materials: Stone; Wood Siding
Levels: One
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; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected
Showing Requirements: Appointment Only; Call Listing Agent
Listing Office:
NAI Koella | RM Moore
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.