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Property profile & analytics
OFF-MARKET
Estimated value
$3,010,000
Motels
3229 Pkwy Parkway Pigeon Forge, TN 37863-3421
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US80-0274872
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,418 SF
Lot
165 ac (7,187,400 SF)
Zoning code
C-2
APN
078094C E 03600
UPID
US80-0274872
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.25M
Blend (final)
Blend
$3.01M
Owner & transaction history
Scholar Ents INC · 6 yrs held
Scholar Ents INC
since 2020
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
C-2 · Pigeon Forge, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.9M
+91.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Pigeon Forge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pigeon Forge submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,190,000
ML approach
$3,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,055,000
Current use
RETAIL STORES
$3,930,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,855,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$3.01M
Range $2.71M – $3.31M · ±10% · vs last sale $2.80M (May 19 2020)
Last sale anchor
$2.80M
May 19 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$173 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$17,616
Tax year 2021
Assessed value
$1,070,760
Assessed 2023
Previous assessed
$1,070,760
+0.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$642,640
Assessed improvement
$428,120
Land market value
$1,606,600
Improvement market value
$1,070,300
Total market value
$2,676,900
Applied tax rate
78.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
1
Bathrooms
54
Total area
17,418 SF
Lot
165 ac (7,187,400 SF)
Zoning code
C-2
APN
078094C E 03600
UPID
US80-0274872
Jurisdiction
SEVIER
Zoning & alternative use
C-2 · Pigeon Forge, TN
Zoning C-2 · permitted uses
C-2 · Pigeon Forge, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pigeon Forge. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.1M
RETAIL STORES
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$1.9M
HOTEL/MOTEL Current
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Bathrooms
54
Lot
165 ac
Current owner
From public records · entity-resolved
Scholar Ents INC
Entity
Mailing address
3229 PKWY PARKWAY, PIGEON FORGE, TN 37863-3421
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2020
$2,800,000
Scholar Ents INC
We Are Blessed LLC
Warranty Deed
$2,275,000 · We Are Blessed LLC
Aug 14, 2014
$2,930,000
We Are Blessed LLC
Patel,manishkumar
Grant Deed
—
Jul 6, 2012
—
Manishkumar Patel
Patel,ashish R
Quit Claim Deed
related
—
Jul 5, 2012
—
Ashish R Patel
Patel,pratima A
Quit Claim Deed
related
—
Mar 9, 2006
$2,000,000
Ashish Patel
Jwd LLC
Deed Of Trust
related
$1,600,000 · Mountain National Bank
Jun 30, 2000
$1,925,000
J W D LLC
Jardosh,rashmin R & Bharti
Grant Deed
$1,440,000 · Suntrust Bank NA
Jun 26, 1992
$650,000
Frank Needham
Unknown
Grant Deed
—
—
—
William V Higgins JR.
—
Deed Of Trust
related
$418,000 · Franklin Federal Savings B
—
—
J W D LLC
—
Deed Of Trust
related
$1,460,758 · Mountain National Bank
—
—
Ashish Patel
—
Deed Of Trust
related
$42,816 · Mountain National Bank
—
—
Jwd LLC
—
Deed Of Trust
related
$1,621,296 · Tennessee State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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