21-Unit Townhome
3729 Plaza Way Pigeon Forge, TN 37863
3729 Plaza Way, Pigeon Forge, TN, 37863
$5,999,999
For Sale
$5,999,999
COMMERCIAL - Pigeon Forge, TN
Property Size27,987 SF
Lot Size5.72 Acres
Price / SF$214.39
Days on Market170
Property Features for 3729 Plaza Way
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C4
- Parking
- 21
- Standard status
- Active
- APN
- 095 031.01
- Size
- 27,987 SF
- Lot size
- 5.72 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 19651
Utilities
- Utilities
- Water Available
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1984
- Floors in Building
- 2
- Flooring type
- Vinyl, Carpet
- Building materials
- Frame
Listing Agency
PWA Properties
(865) 233-6441
131 E Broadway Avenue, Maryville, TN
Listed by
Kevin Tipton · License #275491
(865) 210-0228
Added: Jan 29 Checked: Jul 18 at 4:06 am
MLS# 309955
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.
Pinecrest Townhomes is a 21-unit townhome community currently operating as short-term rentals. Each unit is a two-bedroom, two-and-a-half-bath townhome with a washer and dryer, fireplace, and private balcony. The community includes a firepit and grilling area, and the owners have completed over $1.5 million in capital expenditures.
Located in Pigeon Forge, the property is directly adjacent to Dollywood. The community also includes shared ownership in an adjacent HOA that provides access to the clubhouse and indoor swimming pool.
Zoned C4, the property offers multiple use options, including continued vacation rental operations, conversion to traditional apartments, or sale of individual condominium units.
Located in Pigeon Forge, the property is directly adjacent to Dollywood. The community also includes shared ownership in an adjacent HOA that provides access to the clubhouse and indoor swimming pool.
Zoned C4, the property offers multiple use options, including continued vacation rental operations, conversion to traditional apartments, or sale of individual condominium units.
Key Highlights
- 21‑unit townhome community in Pigeon Forge, TN, directly adjacent to Dollywood
- All units are 2‑bedroom, 2.5‑bath townhomes with private balconies
- Each unit includes a washer and dryer plus a fireplace
Local Financial Insights For Apartment 5plus
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 | $419.8k | $15.00 |
| − Vacancy | −$42.0k | −$1.50 |
| EGI | $377.8k | $13.50 |
| − OpEx | −$170.0k | −$6.08 |
| NOI | $207.8k | $7.43 |
27,987 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.97M
$2.60M – $3.46M
NOI $207,803 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.80M
$10.33M – $13.77M
NOI $826,176 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ridgecrest Condominiums
Condominium Complex
Pinecrest Townhomes
Vacation Rental
Crest Resort
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - 21-unit townhome community operating as short-term rentals, with unit amenities and shared outdoor and HOA recreation access.
Where is this short term rental property located?
The property is located at 3729 Plaza Way Pigeon Forge, TN.
What is the asking price?
The asking price for this property is $5,999,999.
What are key features of this property?
This property features: 21‑unit townhome community in Pigeon Forge, TN, directly adjacent to Dollywood; All units are 2‑bedroom, 2.5‑bath townhomes with private balconies; Each unit includes a washer and dryer plus a fireplace
