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    2162 Parkway Pigeon Forge, TN 37863

    For Sale
    $8,000,000

    63-Unit Hotel, High Traffic Location

    Property size:
    32,937 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity presents a fee-simple interest in a 3-story, 63-unit limited-service hotel, the Howard Johnson by Wyndham Pigeon Forge. Located at 2162 Parkway, Pigeon Forge, TN 37863, this property boasts a prime location on a major thoroughfare, benefiting from the high traffic volume of Sevier County's 15 million annual visitors. The 32,937 square foot hotel, built in 1971, sits on a 1.43-acre lot and is zoned C-2. Amenities include an enclosed pool, an outdoor pool and play area, a picnic pavilion, a fitness room, and a meeting room with an attached kitchen. The property features 63 keys and is offered at $8,000,000, representing a price per square foot of $242.89. The property's APN is 072 115.00 and is owned by Prosper Properties LLC. Note that the owner is also offering a portfolio sale including two additional Parkway hotels for a total of 350 rooms and a combined price of $44,000,000. This presents a unique opportunity for investors seeking a strong foothold in the thriving Pigeon Forge hospitality market.

    Property Features for 2162 Parkway

    General Information

    Property type
    Hotels
    Square Feet
    32,937 SF
    Lot Size
    62,291 SF

    Building Details

    Year Built
    1971
    Stories
    3

    HighLights

    • Fee‑simple ownership of a 63‑unit Howard Johnson by Wyndham hotel in Pigeon Forge, TN.
    • Prime Parkway location in Sevier County, benefiting from high tourist traffic.
    • 32,937 square foot building on a 1.43‑acre lot, zoned C‑2.
    • $8,000,000 asking price, representing $242.89 per square foot.
    • Amenities include indoor and outdoor pools, a play area, picnic pavilion, fitness room, and meeting room with kitchen.
    Property Profile Location Intelligence

    Current Use by Public Records

    Howard Johnson by ... Hotel

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Wholesale Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pigeon Forge
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.57829699
    Latitude
    35.81853624

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    FAQs

    What type of property is this?
    Hotel - 63-Unit Hotel, High Traffic Location
    Where is this hotel located?
    The property is located at 2162 Parkway Pigeon Forge, TN.
    What is the asking price?
    The asking price for this property is $8,000,000.
    What are key features of this property?
    This property features: Fee-simple ownership of a 63-unit Howard Johnson by Wyndham hotel in Pigeon Forge, TN.; Prime Parkway location in Sevier County, benefiting from high tourist traffic.; 32,937 square foot building on a 1.43-acre lot, zoned C-2.
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    2162 Parkway Pigeon Forge, TN 37863
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2162 Parkway Pigeon Forge, TN 37863
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