Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Wears Vly Rd Pigeon Forge, TN 37863
    Back to Search
    Property profile & analytics

    Wears Vly Rd, Pigeon Forge, TN 37863

    View on Map
    • Commercial land
    • 1.14 lot acres
    Off-Market
    Last Sale Feb 16, 2023
    $3,600,000
    Property ID
    US80-2841534
    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
    $3,880,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for Wears Vly Rd

    Lot size
    1.14 lot acres
    Zone code
    C-1
    Property type
    Commercial land
    APN
    078083I C 00400
    APU
    078083IC00400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 16, 2023 $3,600,000 Reliable Torage Co Elaine D Brabson Warranty Deed $2.7M · Tennessee State Bank
    Aug 30, 2022 — Elaine D Brabson Ben D Brabson III Intrafamily Transfer · related —
    Aug 29, 2022 — Elaine D Brabson Catherine L Brabson Intrafamily Transfer · related —
    Dec 2, 2009 $150,000 Peter B Brabson Brabson,rebecca B Warranty Deed · related —
    Jan 13, 2006 $15,000 Ben D Brabson III Brabson,ben D JR & Elaine D Warranty Deed · related —
    Jan 6, 2005 $15,000 Ben D Brabson III Brabson,ben D JR & Elaine D Warranty Deed · related —
    Jan 6, 2004 $30,000 Catherine L Brabson Brabson,ben D & Elaine D Grant Deed · related —
    Jan 14, 2002 $30,000 Catherine L Brabson Brabson,ben D & Elaine D Grant Deed · related —
    — — Peter B Brabson — Deed Of Trust · related $150k · Ben D JR Brabson

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,330,000
      ML approach
      $3,980,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pigeon Forge
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.5858
    Latitude
    35.8011
    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
    $3,682
    $223,760
    $0.00
    $223,760
    -
    $559,400
    $0.00
    $559,400

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      406 Dixie Ave

      VACANT COMMERCIAL LAND
      406 Dixie Ave, Pigeon Forge, TN 37863-3508
      View Details
    • Value Estimation by Request
      49.00 Acres

      Pkwy Parkway

      VACANT COMMERCIAL LAND
      Pkwy Parkway, Pigeon Forge, TN 37863
      View Details
    • Value Estimation by Request
      113.00 Acres

      Middle Crk Rd

      VACANT COMMERCIAL LAND
      Middle Crk Rd, Pigeon Forge, TN 37863
      View Details
    • Value Estimation by Request
      0.23 Acres

      3650 Tinker Holw Rd

      VACANT COMMERCIAL LAND
      3650 Tinker Holw Rd, Pigeon Forge, TN 37863-4400
      View Details
    • Value Estimation by Request
      0.41 Acres

      614 Wears Vly Rd

      VACANT COMMERCIAL LAND
      614 Wears Vly Rd, Pigeon Forge, TN 37863-7752
      View Details
    • Value Estimation by Request
      115.00 Acres

      3047 Pkwy Parkway

      VACANT COMMERCIAL LAND
      3047 Pkwy Parkway, Pigeon Forge, TN 37863-3311
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Near Parkway

      Rare C-2 commercial land with redevelopment potential.
      223 Sharon Dr, Pigeon Forge, TN 37863
      View Details
    • $999,500
      1.87 Acres

      Pigeon Forge Land Opportunity

      1.87 acres in Pigeon Forge, primed for development.
      1130 Lee Cardwell Cir, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Land For Sale Wears Valley

      Land for sale in Pigeon Forge, TN with high traffic.
      Wears Valley Rd, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Prime Pigeon Forge Acreage Available

      1.39 acres for sale or lease near Parkway.
      249 Wears Valley Rd, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Pigeon Forge Commercial Development Tract

      6.198-acre commercial development tract in the heart of Pigeon Forge.
      2510 Teaster Ln, Pigeon Forge, TN 37863
      View Details
    • $5,900,000
      16.22 Acres

      Pigeon Forge Land Investment Opportunity

      16.22 acres near Parkway with utilities and development potential.
      820 Old Gate Rd, Pigeon Forge, TN 37863
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Prime Outparcel on Wears Valley

      1.4 AC outparcel in high-traffic tourism corridor.
      644 Wears Valley Rd, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Pigeon Forge Acre for Lease

      Acre for lease near Parkway, gateway to Great Smoky Mountains.
      140 Showplace Blvd, Pigeon Forge, TN 37863
      View Details
    • $20,000 /Mo
      77,972 SF

      Pigeon Forge Commercial Land Lease

      Prime commercial land for lease near Parkway in Pigeon Forge.
      1155 Wears Valley Rd, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Prime Parkway Land for Lease

      1.1 acre commercial land for lease in Pigeon Forge.
      The Pkwy, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Pigeon Forge Parkway Ground Lease

      0.57-acre ground lease opportunity on the Parkway.
      3660 Parkway, Pigeon Forge, TN 37863
      View Details
    • Contact for pricing

      Lumberjack Square Redevelopment Opportunity

      Redevelopment opportunity in Lumberjack Square Shopping Center.
      2530 Parkway, Pigeon Forge, TN 37863
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Wears Vly Rd
    Pigeon Forge, TN 37863
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Wears Vly Rd, Pigeon Forge, TN, 37863
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!