Pigeon Forge Redevelopment
1134-1138 Wears Valley Road Pigeon Forge, TN 37863
1134-1138 Wears Valley Road, Pigeon Forge, TN, 37863
$1,700,000
For Sale
$1,700,000
COMMERCIAL - Pigeon Forge, TN
Property Size4,394 SF
Lot Size6.95 Acres
Price / SF$386.89
Days on Market716
Property Features for 1134-1138 Wears Valley Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C6; R2
- Standard status
- Active
- APN
- 093 133.00, 140.00, 145.00, 146.00
- Size
- 4,394 SF
- Lot size
- 6.95 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 2367
Utilities
- Utilities
- Electricity Available
Building Details
- Year built
- 1961
- Floors in Building
- 1
Listing Agency
NAI Koella | RM Moore
(865) 453-8111
963 Dolly Parton Parkway, TN
Listed by
David Gothard · License ##00262082
(865) 607-9536
Added: Aug 1, 2024 Checked: Jul 17 at 8:06 am
MLS# 302316
Copyright © 2026 Great Smoky Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This combined commercial and residential property offers a redevelopment opportunity within Pigeon Forge. Situated on Wears Valley Road, a high-traffic 5-lane artery with a median, the location allows for convenient access. The combined parcels total approximately 6.95 acres. The two parcels fronting Wears Valley Road are commercially zoned (C-6) with a combined acreage of 1.55 acres. Each of these parcels includes a residential building, one constructed in 1961 and the other in 1975. The remaining parcels, totaling approximately 5.40 acres, are primarily zoned R-2 for high-density residential development. Access to the R-2 parcels is available through the two C-6 zoned parcels. The property is suitable for commercial use in the front, such as restaurants and food services, professional services, and retail sales, with cabin and other high-density residential development in the back property. The property seems well suited for a commercial retail/office development on the two commercial lots and a log cabin resort on the back high-density residential-zoned tract. The property size is 4394 square feet.
Key Highlights
- Prime redevelopment opportunity in Pigeon Forge, a major tourist destination.
- High‑traffic location on Wears Valley Road, a 5‑lane artery with a median.
- Combined 6.95 acres with both commercial (C‑6) and high‑density residential (R‑2) zoning.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.2k | $23.04 |
| − Vacancy | −$18.2k | −$4.15 |
| EGI | $83.0k | $18.89 |
| − OpEx | −$20.8k | −$4.72 |
| NOI | $62.3k | $14.17 |
4,394 SF · lease $23.04/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$889.4K
$778.3K – $1.04M
NOI $62,261 @ 7.0% cap · market cap 3.66%
Second Best
Specialty Retail
$817.4K
$715.2K – $953.6K
NOI $57,215 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,711 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Commercial and residential property on high-traffic road, suitable for redevelopment.
Where is this mixed-use property located?
The property is located at 1134-1138 Wears Valley Road Pigeon Forge, TN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in Pigeon Forge, a major tourist destination.; High‑traffic location on Wears Valley Road, a 5‑lane artery with a median.; Combined 6.95 acres with both commercial (C‑6) and high‑density residential (R‑2) zoning.
