448 Day Springs Rd - Apartments FOR SALE


Pigeon Forge, TN 37863
$20,000,000 USD
615-988-1625
448 Day Springs Rd, Pigeon Forge, TN for Sale
$20,000,000 USD
Apartments - FOR SALE
1/8
null | 7.5% Cap Rate

448 Day Springs Rd
Pigeon Forge, TN 37863


OVERVIEW

?? Do Not Enter Premises Without Prior Approval Prime Investment Opportunity in the Heart of Pigeon Forge This exceptional property presents a rare chance to acquire a high-performing rental asset with immediate cash flow and significant future upside through approved expansion. Ideally located with quick access to the Parkway, Dollywood, and all the attractions of the Great Smoky Mountains, this property boasts: 52 Operating Units: Currently generating income through a mix of short-term and long-term rentals Approved Expansion Plan: Recently passed Preliminary PUD approval with the City of Pigeon Forge for 102 additional units (96 multifamily + 6 townhomes), bringing the total potential to 154 units High Visibility & Accessibility: Trolley stop on-site and close proximity to major attractions Stunning Mountain Views and low Sevier County property taxes Proven Performance: Strong track record in the STR (short-term rental) market Whether you're an investor seeking long-term growth, a developer ready to build, or looking to parcel off the expansion opportunity, this property offers unmatched flexibility and return potential. ?? Development plans available upon request. Please contact listing agent for more details. No showings or site visits without prior approval.

FOR SALE DETAILS

PRICE

$20,000,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

108

PRICE/UNIT

$185,185

CAP RATE

7.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Legends of the Smokies

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2019

PARKING SPACES

-

LAND DETAILS

LAND ACRES

10.87 AC

LAND SF

473,497 SF

ZONING

PUD

APN/PARCEL ID

095I-B-023.00

ASK ABOUT THIS PROPERTY

Benjamin SmithVoyager Real Estate PartnersMore Info
615-988-1625

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Benjamin SmithVoyager Real Estate PartnersMore Info
615-988-1625

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.