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    1359 Parkway Gatlinburg, TN 37738

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    For Lease
    Contact for pricing

    High-traffic Gatlinburg retail space. Excellent location.

    Lot size:
    5,000 SF

    Property Features for 1359 Parkway

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,000 SF

    Spaces For Lease

    at 1359 Parkway, Gatlinburg, TN 37738 Contact us
    Unit

    $26 /Mo

    Size
    5,000 SF
    Contact us

    We can help!

    Listing Contact
    Logan Smith
    Logan Smith

    Listing Agency: MG Rise Real Estate Group Listing Agent: Logan Smith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 5,000-square-foot retail space is ideally situated at the intersection of Glades Road and the Parkway in Gatlinburg, Tennessee. Located in a thriving commercial complex alongside established businesses such as Three Jimmy's Restaurant, Family Dollar, and a laundromat, this property benefits from significant foot traffic generated by both tourists and locals. The single-tenant space features convenient amenities including separate men's and women's restrooms, an office, and an electrical room equipped for various business needs. Ample parking is available, further enhanced by proximity to a McDonald's, providing additional traffic flow. The asking rent is $22 per square foot for the entire space. However, a higher rate may be considered for a subdivided space tailored to a specific business model. The property's address is 1359 East Parkway, Gatlinburg, TN 37738, in Sevier County. This prime location presents a remarkable opportunity for a variety of retail ventures seeking high visibility and consistent customer traffic in a bustling tourist destination.
    Property Profile Location Intelligence

    Current Use by Public Records

    Three Jimmy's Good ... Restaurant Subway Take-out & Catering Family Dollar Discount Store FedEx Drop Box Postal Service LibertyX Bitcoin ATM Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Auto Parts Store Gym & Fitness Center Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Gatlinburg
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.470890651319
    Latitude
    35.726784221265

    Nearby Similar for Lease

    • $50 SF/Yr
      1,000 SF

      Retail Space on the Parkway

      Ground floor retail space with two entrances and river balcony.
      379 Parkway, Gatlinburg, TN 37738
      View Details
    • $16 SF/Yr
      21,500 SF

      Gatlinburg Flex Space For Rent

      Multi-purpose flex space suitable for office and warehouse use.
      446 Parkway E, Gatlinburg, TN 37738
      View Details

    FAQs

    What type of property is this?
    Restaurant - High-traffic Gatlinburg retail space. Excellent location.
    Where is this restaurant located?
    The property is located at 1359 Parkway Gatlinburg, TN.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: 5,000 SF retail space at 1359 East Parkway, Gatlinburg, TN 37738.; High-traffic location at the intersection of Glades Road and Parkway, benefiting from over 11,000 daily vehicles on Parkway.; Strong co-tenancy with established businesses like Three Jimmy's Restaurant and Family Dollar.
    (423) 251-9162 Call to check price and availability
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    1359 Parkway Gatlinburg, TN 37738
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1359 Parkway Gatlinburg, TN 37738
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Logan Smith
    Logan Smith
    Real Estate License ID: 364516
    (423) 251-9162 (865) 968-7473
    Learn more
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