Building Details

Year Built 2025

Listing Agency: 10 Realty LLC

Listed By: Randy Bable · License #340077 Show Phone

Source: Fykesrealtygroup

Added: Jul 30 Changed: Oct 11 Last Checked: Oct 7 at 4:53PM

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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 10 Realty LLC

Investment Insights

Based on property information with market context.

This 2025 steel-framed aircraft hangar at Gatlinburg Pigeon Forge Airport (KGKT) includes approximately 3,000 square feet of hangar area and a 50' x 20' bi-fold door. Ground-level improvements include an office, full bathroom, storage room, gas heat, tankless gas water heater, and insulated construction. A finished approximately 900-square-foot pilot lounge apartment occupies the level above, with a kitchen, living area, bedroom, and bathroom.

The offering conveys the hangar improvements and assignment of the existing airport ground lease; no fee simple real estate is included. The lease is currently in Year 4 of a 30-year term and remains subject to airport approval. The airport is located near Gatlinburg, Pigeon Forge, Sevierville, Dollywood, and Great Smoky Mountains National Park.

Key Highlights

• Approximately 3,000 square feet of hangar space
• 50' x 20' bi‑fold hangar door
• Approximately 900‑square‑foot finished pilot lounge apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,582

Cap Rate

5.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$751,640 $751.6K

Cap Rate 7%

$536,886 $536.9K

Cap Rate 9%

$417,578 $417.6K

Market Conditions

NOI Build-Up for 3,900 SF

Gross rent

$56.2K $14.40/SF

− Vacancy

−$2.5K −$0.63/SF

EGI

$53.7K $13.77/SF

− OpEx

−$16.1K −$4.13/SF

NOI

$37.6K $9.64/SF

Area

Sevier County, TN

Vacancy

4.40%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$751,640

Cap Rate 7%

$536,886

Cap Rate 9%

$417,578

Alternative Uses

Best Use

Industrial

$536.9K

$469.8K – $626.4K (±1% cap)

NOI $37,582 @ 7.0% cap · market cap 5.01%

Second Best

Flex RnD

$339.1K

$296.7K – $395.6K (±1% cap)

NOI $23,734 @ 7.0% cap · market cap 3.16%

Theoretical Best

Office A

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,128 @ 7.0% cap · market cap 15.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

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

Suggested Use

Top Pick Big Box & Wholesale Store Auto Parts Store Parking Lot & Garage Garden Center Furniture & Home Goods Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

533

Businesses Nearby

Explore this area Business Placement

Demographics for 37862, TN

23,236

Population

13,676

Households

1.7

Avg Household Size

43

Median Age

23%

College-Educated

87%

High-School Grad

81.8 sq mi

ZIP Area

284

Density / Sq Mi

$58,110

Median Household Income

$31,490

Median Earnings

$956

Median Rent

$283,800

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this aviation real estate located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Aviation real estate - Steel-framed aviation facility with an integrated pilot lounge, office, bathroom, storage, and full kitchen.

Where is this aviation real estate located?

The property is located at 159 Industrial Park Dr Sevierville, TN.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Approximately 3,000 square feet of hangar space; 50' x 20' bi‑fold hangar door; Approximately 900‑square‑foot finished pilot lounge apartment