Franklin Dr Gatlinburg, TN 37738
703. R-2 Medium Density Residential. It is the intent of this district to provide areas for single and multi-family dwellings; to encourage development and continued use of the land for residential purposes; to prohibit business and industrial uses; and other uses which would interfere with development or continuation of single or multi-family dwellings. In…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2021Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
R-2 · Gatlinburg, TN703. R-2 Medium Density Residential. It is the intent of this district to provide areas for single and multi-family dwellings; to encourage development and continued use of the land for residential purposes; to prohibit business and industrial uses; and other uses which would interfere with development or continuation of single or multi-family dwellings. In order to achieve the intent of the R -2 (Medium Density) Residential District, as shown on the Zoning Map of the City of Gatlinburg, Tennessee, the following uses are permitted: 703.1 Any use permitted in the R-1 Residential District. 703.2 Two family and multi-family dwellings. 703.3 Boarding and rooming houses and bed and breakfast establishments. 703.4 Accessory Real Estate Offices. An on -site accessory real estate office for multi-family developments may be permitted as a Special Use on Review Permit from the Municipal Board of Zoning Appeals provided the following conditions are met: 703.4.1 The on-site real estate office shall be permitted provided that said office is strictly and exclusively limited to the premises on which the R -2 District multi- family development is located and shall in no way be permitted to serve persons and/or properties outside of the development. 703.4.2 Only one (1) Special Use on Review Permit for an on-site real estate office per development may be granted by the Board and shall be voided if the use is discontinued for a period of ninety (90) days or more. If the use is discontinued for a period of ninety (90) days or more, a new application to the MBZA will be required to reestablish the use. 703.4.3 The on-site real estate office shall not exceed 400 square feet in area and shall have a minimum of two (2) parking spaces designated specifically for the office use. 67 703.4.4 In instances where the real estate office is located in a detached/freestanding building as the only occupant, said building must be located no less than fifty (50) feet from all exterior property line boundaries. 703.4.5 Only one (1) non-illuminated wall sign, located immediately adjacent to the space occupied by the real estate office, and not exceeding four (4) square feet in service display area, shall be permitted for the on-site real estate office. All real estate office signs shall be consistent with material and colors of the existing building and other on-site development signs. 703.4.6 The Special Use on Review Permit shall be subject to any and all additional stipulations and/or requirements of the Municipal Board of Zoning Appeals. 704. R-2A Medium Density Residential.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.