107 Lay Hollow RdSharps Chapel, TN 37866

Property Details for 107 Lay Hollow Rd

Property type

Other commercial real estate

Property subtype

Investment properties

Description

This exceptional investment opportunity encompasses a sprawling 36+ acre property near Norris Lake, Tennessee, featuring a profitable and largely occupied RV park with 43 campsites (all with annual leases) and 52 rental storage units, plus coin-operated laundry facilities. The existing infrastructure includes a single-family home. Future development potential is significant, with plans for an additional 54 campsites to be built in phases, increasing the property's value and income stream. A separate 2.07-acre parcel includes a 5-unit apartment complex, two houses, and three rental trailers, further enhancing the investment's diverse income streams and providing additional coin-operated laundry and self-storage units. The property boasts a prime location, just half a mile from Norris Lake and within a short drive of Maynardville, Tazewell, and the popular tourist destinations of Sevierville, Pigeon Forge, and Gatlinburg. Current Net Operating Income (NOI) is estimated at $261,000, with a potential for over $100,000 additional NOI from the multi-family and storage components. The asking price is $4,000,000. This turnkey operation presents a rare chance to acquire a well-established and expanding business with substantial growth potential. The undeveloped acreage offers significant opportunities for future expansion and development.

Location Insight

City

Sharps Chapel

County

Union

State

Tennessee

Latitude

36.3446

Longitude

-83.7804

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