For Sale
$8,000,000

2162 ParkwayPigeon Forge, TN 37863

63-Unit Hotel, High Traffic Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple interest in a 3-story, 63-unit limited-service hotel, the Howard Johnson by Wyndham Pigeon Forge. Located at 2162 Parkway, Pigeon Forge, TN 37863, this property boasts a prime location on a major thoroughfare, benefiting from the high traffic volume of Sevier County's 15 million annual visitors. The 32,937 square foot hotel, built in 1971, sits on a 1.43-acre lot and is zoned C-2. Amenities include an enclosed pool, an outdoor pool and play area, a picnic pavilion, a fitness room, and a meeting room with an attached kitchen. The property features 63 keys and is offered at $8,000,000, representing a price per square foot of $242.89. The property's APN is 072 115.00 and is owned by Prosper Properties LLC. Note that the owner is also offering a portfolio sale including two additional Parkway hotels for a total of 350 rooms and a combined price of $44,000,000. This presents a unique opportunity for investors seeking a strong foothold in the thriving Pigeon Forge hospitality market.

Highlights

  • Fee-simple ownership of a 63-unit Howard Johnson by Wyndham hotel in Pigeon Forge, TN.
  • Prime Parkway location in Sevier County, benefiting from high tourist traffic.
  • 32,937 square foot building on a 1.43-acre lot, zoned C-2.
  • $8,000,000 asking price, representing $242.89 per square foot.
  • Amenities include indoor and outdoor pools, a play area, picnic pavilion, fitness room, and meeting room with kitchen.

Property Details for 2162 Parkway

Property type
Hospitality properties, Hotels
Square Feet
32,937 SF
Year Built
1971
Stories
3
Lot Size (sq. ft)
62,291 SF

Location Insight

City
Pigeon Forge
County
Sevier
State
Tennessee
Latitude
35.81853624
Longitude
-83.57829699
2162 Parkway, Pigeon Forge, Tennessee

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2162 Parkway
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