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
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.
More Information MLS# 198566
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
Contract Information
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
Current Price: $3,000,000
Original List Price: 3000000
Sold Price: $3,000,000
Status: Closed
Listing Contract Date: 2015-08-18
General Property Information
Number Of Buildings: 4
Lot Size Dimensions: 720/200//
Lot Size Acres: 2.5
Business Name: Rodeway Inn
Bonus Room YN: No
Number of Bonus Rooms: 0
Sign On Property YN: No
List Price/SqFt: 64.36
Sold Price/SqFt: 64.36
Living Area: 46614
Year Built: 1968
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
Status Change Timestamp: 2016-01-25
Buyer Financing: Cash
Major Change Timestamp: 2016-01-25T06:36:34Z
Major Change Type: Status Change
Purchase Contract Date: 2015-12-10
Close Date: 2016-01-25
Close Price: 3000000
Currently Not Used
Book/Page/Doc #: 554, 442
Community Features
Sidewalks: 1
Construction Materials
Masonry: 1
Steel Frame: 1
Exterior Features
Lighting: 1
Levels
Three Or More: 1
Listing Terms
Cash: 1
Conventional: 1
Fee Simple Improved: 1
Parking Features
On Site: 1
Paved: 1
Possession
Negotiable: 1
Road Frontage Type
City Street: 1
Highway: 1
Road Surface Type
Paved: 1
Utilities
Electricity Connected: 1
Phone Available: 1
Sewer Connected: 1
Water Connected: 1
Income and Expenses
Maintenance Expense: 0
Possible Use
Other: 1
Building Features
Fixtures: 1
Furniture: 1
Reception Area: 1
Restrooms: 1
Business Type
Hotel/Motel: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Showing Instructions: Agents: Please do not disturb business operations. Contact listing agent to arrange showings.
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
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
Listing Office:
Sperry Van Ness/R M Moore, LLC
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.