Retail Property with Three
For Sale
Contact for pricing
Pending
401 E Main St, Sevierville, TN 37862
Retail property on 0.94 acres offering three drive-thru lanes and approximately 4,032 SF of space.
Property Size4,032 SF
Lot Size0.94 Acres
Days on Market475
Property Features for 401 E Main St
General Information
Standard status
Pending
Size
4,032 SF
Lot size
0.94 Acres
Property subtype
Office, Retail
Listing Agency:
Oliver Smith Realty & Development Company
Listed By:
Oliver Smith · License #TN
(865) 584-2000
Source:
Crexi
Added: May 19, 2025
Changed: Aug 21
Last Checked: Aug 14 at 7:47AM
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 Oliver Smith Realty & Development Company
Investment Insights
Based on property information with market context.
This retail property includes approximately 4,032 SF on 0.94 acres and is configured with three drive-thrus, supporting quick-service operations and customer flow through multiple service points.
The property is located on a main thoroughfare in Sevierville at the entrance to Pigeon Forge and Gatlinburg, within a tourism area. Public data provided shows traffic counts of 42,160 vehicles on E Main Street, 57,867 on Winfield Dunn Parkway, and 31,287 on Forks of the River Parkway. Nearby retail includes Hardee’s, Tractor Supply, Walgreens, Wendy’s, Dunkin, Waffle House, and SMARM Thrift Store. Demographics provided include 3-mile, 5-mile, and 7-mile population figures of 19,162, 27,412, and 49,724, with average household income of $69,197, $67,952, and $72,726, respectively.
The property is located on a main thoroughfare in Sevierville at the entrance to Pigeon Forge and Gatlinburg, within a tourism area. Public data provided shows traffic counts of 42,160 vehicles on E Main Street, 57,867 on Winfield Dunn Parkway, and 31,287 on Forks of the River Parkway. Nearby retail includes Hardee’s, Tractor Supply, Walgreens, Wendy’s, Dunkin, Waffle House, and SMARM Thrift Store. Demographics provided include 3-mile, 5-mile, and 7-mile population figures of 19,162, 27,412, and 49,724, with average household income of $69,197, $67,952, and $72,726, respectively.
Key Highlights
- Retail property on 0.94 acres with approximately 4,032 SF total space.
- Features three drive‑thru lanes for added convenience and throughput.
- Located on E Main Street in Sevierville at the entrance to Pigeon Forge and Gatlinburg.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,132
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,142,640
$1.1M
Cap Rate 7%
$816,171
$816.2K
Cap Rate 9%
$634,800
$634.8K
Market Conditions
NOI Build-Up for 4,032 SF
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.
Gross rent
$92.9K $23.04/SF
− Vacancy
−$16.7K −$4.15/SF
EGI
$76.2K $18.89/SF
− OpEx
−$19.0K −$4.72/SF
NOI
$57.1K $14.17/SF
Area
Sevier County, TN
Vacancy
18.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,142,640
Cap Rate 7%
$816,171
Cap Rate 9%
$634,800
Alternative Uses
Best Use
Office B
$816.2K
$714.2K – $952.2K
NOI $57,132 @ 7.0% cap · market cap 2.93%
Second Best
Retail
$704.7K
$616.6K – $822.2K
NOI $49,330 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $119,025 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,062
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Retail property on 0.94 acres offering three drive-thru lanes and approximately 4,032 SF of space.
Where is this office units located?
The property is located at 401 E Main St Sevierville, TN.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Retail property on 0.94 acres with approximately 4,032 SF total space.; Features three drive‑thru lanes for added convenience and throughput.; Located on E Main Street in Sevierville at the entrance to Pigeon Forge and Gatlinburg.
