107 Lay Hollow Rd Sharps Chapel, TN 37866
- Commercial real estate
Current Use by Public Records
- Sharps Chapel Campground / Campground
Property Details for 107 Lay Hollow Rd
- Property type
- Commercial real estate
Description
This exceptional investment opportunity encompasses a sprawling 36+ acre property near Norris Lake, Tennessee, featuring a profitable and largely occupied RV park with 43 campsites (all with annual leases) and 52 rental storage units, plus coin-operated laundry facilities. The existing infrastructure includes a single-family home. Future development potential is significant, with plans for an additional 54 campsites to be built in phases, increasing the property's value and income stream. A separate 2.07-acre parcel includes a 5-unit apartment complex, two houses, and three rental trailers, further enhancing the investment's diverse income streams and providing additional coin-operated laundry and self-storage units. The property boasts a prime location, just half a mile from Norris Lake and within a short drive of Maynardville, Tazewell, and the popular tourist destinations of Sevierville, Pigeon Forge, and Gatlinburg. Current Net Operating Income (NOI) is estimated at $261,000, with a potential for over $100,000 additional NOI from the multi-family and storage components. The asking price is $4,000,000. This turnkey operation presents a rare chance to acquire a well-established and expanding business with substantial growth potential. The undeveloped acreage offers significant opportunities for future expansion and development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sharps Chapel
- County
- Union
- State
- Tennessee
- Longitude
- -83.780393324014
- Latitude
- 36.344631926672
