Dudley Creek Apartments For
For Sale
Contact for pricing
445-447 Dudley Creek Road, Gatlinburg, TN 37738
Six-unit multifamily property near Gatlinburg Parkway.
Property Size5,022 SF
Price / SF$184.19
Days on Market159
Property Features for 445-447 Dudley Creek Road
General Information
Standard status
Active
Size
5,022 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$65,467
Building Details
Year Built
1970
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Patrick Cosgrove · License #TN 341774
Source:
Crexi
Added: May 12
Changed: Oct 15
Last Checked: Oct 16 at 6:38AM
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 Marcus & Millichap - Nashville
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Investment Insights
Based on property information with market context.
The Dudley Creek Apartments, located in Gatlinburg, Tennessee, are being exclusively marketed for sale. This six-unit multifamily property presents a value-add opportunity in the Smoky Mountains. The property features a mix of studio, one-bedroom, and two-bedroom apartments in a location near the Gatlinburg Parkway. The asset provides access to the area’s primary employment base, driven by tourism, hospitality, and retail. The property benefits from long-term rental demand due to a limited supply of workforce housing in a market dominated by short-term rentals. Recent capital improvements include full electrical rewiring and updated plumbing in the two-story building. Units feature stainless steel appliances. Utilities are individually metered and paid by tenants. The property size is 5,022 square feet.
Key Highlights
- Value‑add opportunity in the popular Smoky Mountains/Gatlinburg area.
- High‑demand location near Gatlinburg Parkway, with easy access to employment.
- Strong long‑term rental demand in area with limited workforce housing.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,288
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$745,760
$745.8K
Cap Rate 7%
$532,686
$532.7K
Cap Rate 9%
$414,311
$414.3K
Market Conditions
NOI Build-Up for 5,022 SF
Gross rent
$75.3K $15.00/SF
− Vacancy
−$7.5K −$1.50/SF
EGI
$67.8K $13.50/SF
− OpEx
−$30.5K −$6.08/SF
NOI
$37.3K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$745,760
Cap Rate 7%
$532,686
Cap Rate 9%
$414,311
Alternative Uses
Best Use
Apartment 5plus
$532.7K
$466.1K – $621.5K
NOI $37,288 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,249 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 37738, TN
5,001
Population
7,075
Households
0.7
Avg Household Size
49
Median Age
31%
College-Educated
91%
High-School Grad
214.6 sq mi
ZIP Area
23
Density / Sq Mi
$63,133
Median Household Income
$29,169
Median Earnings
$1,090
Median Rent
$275,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property near Gatlinburg Parkway.
Where is this apartment building located?
The property is located at 445-447 Dudley Creek Road Gatlinburg, TN.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Value‑add opportunity in the popular Smoky Mountains/Gatlinburg area.; High‑demand location near Gatlinburg Parkway, with easy access to employment.; Strong long‑term rental demand in area with limited workforce housing.
