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    Florence Dr Pigeon Forge, TN 37863
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    Property profile & analytics

    Florence Dr, Pigeon Forge, TN 37863

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    • Motels
    • 61,311 SF
    • 100.00 lot acres
    Off-Market
    Last Sale Nov 3, 2021
    $100,000
    Property ID
    US80-2491334
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for Florence Dr

    Year built
    1993
    Lot size
    100.00 lot acres
    Zone code
    C-2
    Property type
    Motels
    APN
    078083O A 00600
    APU
    078083OA00600

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 3, 2021 — Hular Tennessee Holding Company LLC Michael L Shular Intrafamily Transfer · related —
    Jan 31, 2019 — Michael L Shular — Loan Modification · related $3.5M · First Tn Bk
    Jan 2, 2014 — Shular,michael L — Grant Deed · related $4.6M · First Tn Bk
    Jul 30, 2009 — Michael L Shular — Deed Of Trust · related $5.5M · Citizens National Bank
    Jul 5, 1989 $100,000 Michael L Shular Unknown Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pigeon Forge
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.5755
    Latitude
    35.8017
    CBSA code
    42940
    CBSA name
    SEVIERVILLE, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $20,733
    $67,200
    $1,193,000
    $1,260,200
    -
    $168,000
    $2,982,500
    $3,150,500

    Comparable in this City

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    • Value Estimation
      $3,330,000
      60,518 SF

      2760 Pkwy Parkway

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      2760 Pkwy Parkway, Pigeon Forge, TN 37863-3212
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    • Value Estimation
      $1,625,000
      31,928 SF

      Riv Rd N No

      MOTEL
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      $840,000
      15,500 SF

      3215 Riv Rd

      MOTEL
      3215 Riv Rd, Pigeon Forge, TN 37863-3435
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      $1,450,000
      31,800 SF

      4112 Pkwy Parkway

      MOTEL
      4112 Pkwy Parkway, Pigeon Forge, TN 37863-4010
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    • Value Estimation
      $2,740,000
      46,101 SF

      3756 Pkwy Parkway

      MOTEL
      3756 Pkwy Parkway, Pigeon Forge, TN 37863-3814
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    Similar Nearby for Sale

    • Contact for pricing

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      Pigeon Forge Development Land For Sale

      20.85 acres development property in the heart of Pigeon Forge.
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      Prime Land in Pigeon Forge

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      32,937 SF

      63-Unit Hotel For Sale

      Three-story, 63-unit hotel on primary artery with high traffic.
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      27,987 SF

      21-Unit Townhome Community Near Dollywood

      Townhome community near Dollywood with multiple use options.
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      Pigeon Forge Acre with Views

      Rare Pigeon Forge land with mountain views and creek.
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    Similar Nearby for Lease

    • $19 SF/Yr

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      1 SF

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      Pigeon Forge Acre for Lease

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      Retail Space in Prime Location

      Retail spaces available near Dollywood and other attractions.
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      5,000 SF

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      High-visibility retail space on the Parkway in Pigeon Forge.
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      View Details
    • Contact for pricing
      5,000 SF

      Pigeon Forge Retail Space Available

      Retail space in high-traffic Pigeon Forge location for lease.
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      View Details
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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.

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