Mixed-Use Development
For Sale
Contact for pricing
11341138 Wears Valley Road, Pigeon Forge, TN 37863
Combined commercial and residential parcels with road frontage and multiple zoning designations.
Property Size4,394 SF
Days on Market32
Property Features for 11341138 Wears Valley Road
General Information
Standard status
Active
Size
4,394 SF
Property subtype
Mixed Use
Building Details
Building Size
4,394 SF
Year Built
1961
Listing Agency:
NAI Koella | RM Moore
Listed By:
David Gothard · License #262082
(865) 607-9536
Source:
Thefullerproperties
Added: Sep 14
Changed: Oct 13
Last Checked: Oct 13 at 12:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Koella | RM Moore
Investment Insights
Based on property information with market context.
This mixed-use property combines approximately 6.95 acres across adjoining parcels within the city limits of Pigeon Forge. The two parcels along Wears Valley Road total 1.55 acres, carry C-6 commercial zoning, and include residential buildings constructed in 1961 and 1975. The rear parcels encompass approximately 5.40 acres and are mostly zoned R-2 for high-density residential development.
Access to the rear acreage is through the two front commercial parcels. The property fronts Wears Valley Road, a five-lane roadway with a median, providing ingress and egress between the road and the site. The overall configuration includes commercial frontage with residentially zoned acreage behind it.
Access to the rear acreage is through the two front commercial parcels. The property fronts Wears Valley Road, a five-lane roadway with a median, providing ingress and egress between the road and the site. The overall configuration includes commercial frontage with residentially zoned acreage behind it.
Key Highlights
- Approximately 6.95 acres across adjoining parcels
- 1.55 acres of C‑6 commercial‑zoned land fronts Wears Valley Road
- Rear 5.40 acres are mostly zoned R‑2 for high‑density residential development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,573
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,091,460
$1.1M
Cap Rate 7%
$779,614
$779.6K
Cap Rate 9%
$606,367
$606.4K
Market Conditions
NOI Build-Up for 4,394 SF
Gross rent
$94.9K $21.60/SF
− Vacancy
−$7.6K −$1.73/SF
EGI
$87.3K $19.87/SF
− OpEx
−$32.7K −$7.45/SF
NOI
$54.6K $12.42/SF
Area
Sevier County, TN
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,091,460
Cap Rate 7%
$779,614
Cap Rate 9%
$606,367
Alternative Uses
Best Use
Mixed Use
$779.6K
$682.2K – $909.6K
NOI $54,573 @ 7.0% cap · market cap 3.21%
Second Best
Retail
$768.0K
$672.0K – $896.0K
NOI $53,759 @ 7.0% cap · market cap 3.16%
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 37863, TN
6,988
Population
5,570
Households
1.3
Avg Household Size
40
Median Age
12%
College-Educated
74%
High-School Grad
17.2 sq mi
ZIP Area
406
Density / Sq Mi
$53,587
Median Household Income
$31,235
Median Earnings
$933
Median Rent
$253,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined commercial and residential parcels with road frontage and multiple zoning designations.
Where is this mixed-use property located?
The property is located at 11341138 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: Approximately 6.95 acres across adjoining parcels; 1.55 acres of C‑6 commercial‑zoned land fronts Wears Valley Road; Rear 5.40 acres are mostly zoned R‑2 for high‑density residential development
