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Over Night Cabin Rental Resort in Smokey Mountains
Posted by: Bill Jones on 3/8/2010 5:27:30 PM
Funding Needed:
Above $1mil 		Category:
Real Estate / Construction 		Website :
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Location :
Pigeon Forge, Tennessee, USA 		Viewed : 242 times
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Description:
EXECUTIVE SUMMARY:

Resort located within city limits of Pigeon Forge, Tennessee. This city hosts more than 58,000 guests per night in addition to having 14,000 couples who wed in Sevier County each year.

This resort property was previously developed and has paved road access to all sites as well as city water and sewage. Property size is 10.33 acres and has been sub divided into 48 lots zoned for R2 nightly rentals.

There are 6 existing cabins located throughout the property, some of which are on nightly rental programs either with the resort or outside companies. The resort also has a full service spa which was being leased, office area and a common area offering outdoor hot tub, in-ground kiddy pool as well as in-ground swimming pool.

Plan is to complete construction of cabins available for sale and or nightly rentals. All lots have been accessed for possible cabin size and placement.

All cabins would be listed at a minimum of 20% markup. Rental income would be paid monthly to each cabin owner at a 60/40 split with the resort. Nightly rental pricing would be competitive with other area resorts and adjusted to seasonal demand.

Resort / Construction would be managed by plan presenters. Other staff to be added as work load deems necessary.

Total amount needed is $2,250,000 for phase 1 which includes purchase of above and construction of three cabin units.

Additional option: Another $7M needed if construction of all units initiated.

Phase 2 is an additional 15 acres adjoining said property which is undeveloped and for sale by same owner at a list price of $1.2M. Phase 2 is optional but has potential as future development.

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