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    159 Industrial Park Dr, Unit 7 Sevierville, TN 37862

    View on Map
    Sponsored
    For Sale
    $835,000

    COMMERCIAL - Sevierville, TN

    Property size:
    3,000 SF
    Lot size:
    0.01 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 19 at 10:06 pm

    Property Features for 159 Industrial Park Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Zoning
    Airport
    APN
    Hangar 7
    Parking
    2
    Parking features
    Driveway
    Fencing
    Chain Link, Perimeter
    Size
    3,000 SF
    Lot size
    0.01 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Ductless (Heating), Natural Gas, Electric (Heating)
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    2025
    Floors in Building
    1
    Flooring type
    Carpet, Vinyl, Concrete, Simulated wood
    Building materials
    Metal Siding, Steel Frame, Steel Siding
    Additional Structures
    Airplane Hangar

    We can help!

    Listing Contact
    Randy Bable

    10 Realty, LLC (865) 216-8011

    Listing agent Randy Bable (865) 364-6868

    Listing date Mar 18, 2026

    MLS# 307433

    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.

    Learn more

    Property Insight Report

    Overview

    Aircraft Hangar with Pilot's Lounge

    Located at the Gatlinburg Pigeon Forge Airport (KGKT) in Sevierville, Tennessee, this aircraft hangar includes an office and pilot's lounge. The hangar is in its fourth year of a 30-year ground lease. The sale includes full ownership of the hangar, furnishings, and appliances (excluding personal effects). The hangar measures 60 feet wide by 50 feet deep, featuring a 50-foot-wide bi-fold door with a 20-foot clearance from the slab. Constructed with a steel frame and fully insulated walls, ceiling, and door, the hangar includes a gas heater and strategically placed power outlets. A high-efficiency, tankless gas water heater is installed. The ground level features a 200-square-foot office with a picture window and split-system HVAC, a storage room with wall-mounted racks and pegboard, and a full bathroom with a shower and washer/dryer connections. The main hangar space accommodates up to three single-engine aircraft. The rear mezzanine has 12 feet of clearance beneath it. The upper level includes an 800-square-foot pilot's lounge apartment with a living area and a gourmet kitchen equipped with a gas oven/stove, microwave with exhaust, polished countertops, and a butcher block island. The full bath features a jacuzzi tub with a shower, a double vanity cabinet, a bidet toilet, and customizable lighting and ventilation controls. Fast wi-fi is available. The bedroom has a fuselage-inspired design and closet space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    10 Realty Real Estate Agency Randy Bable, 10 ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sevierville
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.53145
    Latitude
    35.859337

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    FAQs

    What type of property is this?
    Aviation real estate - Top-tier aircraft hangar with office and pilot's lounge apartment.
    Where is this aviation real estate located?
    The property is located at 159 Industrial Park Dr, Unit 7 Sevierville, TN.
    What is the asking price?
    The asking price for this property is $835,000.
    What are key features of this property?
    This property features: - Move-in ready aircraft hangar with a fully furnished 800 sq ft pilot's lounge apartment featuring a gourmet kitchen and luxurious full bath with jacuzzi tub.; - Spacious 60' x 50' hangar with a 50' wide x 20' high bi-fold door, accommodating up to three single-engine aircraft, plus a rear mezzanine.; - Includes a 200 sq ft ground-level office with split-system HVAC, storage room, and full bathroom with shower and washer/dryer connections.
    (865) 364-6868
    Request Owner's contact information
    159 Industrial Park Dr, Unit 7 Sevierville, TN 37862
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    159 Industrial Park Dr, Unit 7 Sevierville, TN 37862
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    Listing Contact
    Randy Bable
    (865) 364-6868
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