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$189.17
Days on Market87
Property Features for 445-447 Dudley Creek Road
General Information
Standard status
Active
Size
5,022 SF
Property subtype
Multifamily
Building Details
Year Built
1970
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Patrick Cosgrove · License #TN 341774
Source:
Crexi
Added: May 12
Changed: Jul 10
Last Checked: Aug 5 at 3:02PM
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
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 For Apartment 5plus
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 | $75.3k | $15.00 |
| − Vacancy | −$7.5k | −$1.50 |
| EGI | $67.8k | $13.50 |
| − OpEx | −$30.5k | −$6.08 |
| NOI | $37.3k | $7.43 |
5,022 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$532.7K
$466.1K – $621.5K
NOI $37,288 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,249 @ 7.0% cap · market cap 15.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
204
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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 $950,000.
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.
