Aircraft Hangar with Pilot
159 Industrial Park Drive Sevierville, TN 37862
New
For Sale
$799,000
COMMERCIAL - Sevierville, TN
Property Size3,900 SF
Lot Size0.01 Acres
Price / SF$204.87
Days on Market1
Property Features for 159 Industrial Park Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- Under Construction
- Zoning
- Airport
- Rooms
- Basement
- Parking
- 2
- Parking features
- Driveway
- Standard status
- Active
- Size
- 3,900 SF
- Lot size
- 0.01 Acres
Taxes and HOA fees
- Tax Year
- 2026
Utilities
- Sewer type
- Public Sewer
- Heating system
- Wall Furnace, Ductless (Heating)
- Cooling system
- Ductless, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2025
- Floors in Building
- 2
- Flooring type
- Concrete
- Building materials
- Metal Siding, Steel Frame, Steel Siding
- Additional Structures
- Airplane Hangar
Listing Agency:
10 Realty, LLC
(865) 364-6868
Listed By:
Randy Bable
(865) 364-6868
Added: Jul 24
Last Checked: Jul 24 at 10:06PM
MLS# 312957
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.
This offering is for hangar improvements at the Gatlinburg Pigeon Forge Airport (KGKT). The steel-framed hangar provides approximately 3,000 square feet of hangar space with a 50' x 20' bi-fold door. The ground level includes an office, full bathroom, storage room, gas heat, and a tankless gas water heater, with insulated construction and additional convenience upgrades. Above the hangar is a finished pilot’s lounge apartment with a full kitchen, living area, bedroom, and bathroom.
The sale includes the assignment of the existing airport ground lease. The property is currently in Year 4 of a 30-year ground lease with the airport, and no fee simple real estate is being conveyed. The purchaser will acquire ownership of the hangar improvements and assume the remaining term of the ground lease, subject to airport approval.
The hangar is located in Sevierville, Tennessee, and is described as minutes from Gatlinburg, Pigeon Forge, Sevierville, Dollywood, and Great Smoky Mountains National Park.
The sale includes the assignment of the existing airport ground lease. The property is currently in Year 4 of a 30-year ground lease with the airport, and no fee simple real estate is being conveyed. The purchaser will acquire ownership of the hangar improvements and assume the remaining term of the ground lease, subject to airport approval.
The hangar is located in Sevierville, Tennessee, and is described as minutes from Gatlinburg, Pigeon Forge, Sevierville, Dollywood, and Great Smoky Mountains National Park.
Key Highlights
- Under construction steel‑framed aircraft hangar at Gatlinburg Pigeon Forge Airport (KGKT), built in 2025
- Approximately 3,000 SF hangar with a 50' x 20' bi‑fold door for general aviation aircraft
- Hangar ground level includes an office, full bathroom, storage room, and gas heat with tankless gas water heater
Financial Insights For Office B
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 | $89.9k | $23.04 |
| − Vacancy | −$16.2k | −$4.15 |
| EGI | $73.7k | $18.89 |
| − OpEx | −$18.4k | −$4.72 |
| NOI | $55.3k | $14.17 |
3,900 SF · lease $23.04/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$789.4K
$690.8K – $921.0K
NOI $55,261 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,128 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
10 Realty
Real Estate Agency
Randy Bable, 10 ...
Real Estate Agency
FAQs
What type of property is this?
Aviation real estate - Steel-framed aircraft hangar with office and apartment above, sold as hangar improvements with an assigned airport ground lease.
Where is this aviation real estate located?
The property is located at 159 Industrial Park Drive Sevierville, TN.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Under construction steel‑framed aircraft hangar at Gatlinburg Pigeon Forge Airport (KGKT), built in 2025; Approximately 3,000 SF hangar with a 50' x 20' bi‑fold door for general aviation aircraft; Hangar ground level includes an office, full bathroom, storage room, and gas heat with tankless gas water heater
