Created date: June 20, 2024
Date last updated: August 19, 2024
- All municipal utilities available
- C-5 Tourist Commercial zoning district
- Located near Bass Pro Shop, restaurants, hotels and other retail
- Near I-40 Exit 407
- I-40 average daily traffic count: 72,103
- Winfield Dunn Parkway average daily traffic count: 36,107
- Located in an Opportunity Zone
Property Description
This 5+ acre wooded tract is zoned for tourist commercial development. It has good visibility, adequate road frontage, rolling topography and municipal utilities nearby. It seems well-suited for hotel, retail and restaurant development. In 2006, an engineering firm prepared site plans for the property, to include a 4-story 80-room hotel, a 3-story 60-room hotel, a 208-seat restaurant and 203 parking spaces. The property is priced below the 2006 acquisition price.
In the Tax Cuts and Jobs Act of 2017, Congress authorized a new community investment tool known as Opportunity Zones. This property is located within one of Sevier County's Opportunity Zones.
Sevier County and Great Smoky Mountains National Park attract 15 million annual visitors, and Winfield Dunn Parkway, off of I-40 Exit 407, is the primary traffic artery for those visitors.