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    1984 Chestnut Springs Way Sevierville, TN 37876

    Sponsored
    For Sale
    $2,900,000

    COMMERCIAL - Sevierville, TN

    Property size:
    3,700 SF
    Lot size:
    12.87 Acres
    Days on Market:
    7
    Last Refresh:
    Feb 2 at 4:06 pm

    Property Features for 1984 Chestnut Springs Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    c2
    Rooms
    Basement
    APN
    074 036.04
    Parking
    50
    Exterior features
    Storage
    Size
    3,700 SF
    Lot size
    12.87 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Tank
    Cooling system
    Wall Unit(s)
    Water source
    Spring

    Building Details

    Year built
    1954
    Floors in Building
    1
    Building materials
    Wood Siding
    Additional Structures
    Storage, Guest House

    We can help!

    Listing Contact
    Stephen Lee

    Lee Commercial Real Estate LLC (865) 384-6577

    Listing agent Stephen Lee (865) 384-6577

    Listing date Jan 27, 2026

    MLS# 304655

    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

    Sevierville Land & Wedding Venue

    This 12.87-acre property offers C-2 zoning and features an existing wedding venue known as The Barn at Chestnut Springs. The property, previously owned by the Dolly Parton Family, is available for sale for the first time in over 18 years. The location is situated off Hwy 416, between Gatlinburg and Pigeon Forge, in the Smoky Mountains, with a daily traffic count exceeding 8400. The site has easy access and paved roads. The C-2 zoning allows for various development possibilities, including commercial, residential, and short-term rental options. The Barn at Chestnut Springs currently hosts 50 weddings annually and includes a 2500 square foot venue barn plus storage, 3400 square feet of outdoor patios, a 600 square foot grooms cabin, and a 600 square foot covered pavilion. The property is located 6 miles from Dollywood, 8 miles from The Island, Ripley's Aquarium, and Tanger Outlets, and less than 500 feet from Pittman Center Rd, with shared parking. The land features level to rolling terrain, woods, mountain views, and natural springs. Utilities include septic, spring-fed water, and natural gas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Barn at Chestnut Springs Wedding Service Lisa Price Photography Photography Service

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Storage Facility Hotel & Motel Furniture & Home Goods Bed & Breakfast (Bike/Boat/Book/etc) Store Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Sevierville
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.46989
    Latitude
    35.82205

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    FAQs

    What type of property is this?
    Wedding venue - 12.87-acre property with C-2 zoning and established wedding venue.
    Where is this wedding venue located?
    The property is located at 1984 Chestnut Springs Way Sevierville, TN.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: - C-2 Zoning: Unlock diverse development potential, including commercial, residential, and short-term rentals.; - Established Wedding Venue: Featuring a 2500 SF barn, 3400 SF of patios, a Grooms Cabin, and a covered Pavilion, with expansion possibilities.; - Prime Location: Nestled between Gatlinburg and Pigeon Forge, this property is conveniently located near Dollywood and The Island.
    (865) 384-8577
    Request Owner's contact information
    1984 Chestnut Springs Way Sevierville, TN 37876
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    Sevierville, TN 37876
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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
    1984 Chestnut Springs Way Sevierville, TN 37876
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    We can help!
    Listing Contact
    Stephen Lee
    (865) 384-8577
    Learn more
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