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Land Development Opportunity ±16.15 Acres | Wears Valley Road, Pigeon Forge, Tennessee

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Land Development Opportunity ±16.15 Acres | Wears Valley Road, Pigeon Forge, Tennessee LAND DEVELOPMENT OPPORTUNITY ±16.15 ACRES | WEARS VALLEY ROAD, PIGEON FORGE, TENNESSEE Wears Valley Rd 8090 AADT ±16.15 Acres 8090 AADT Foothills Pkwy Wears Valley Rd PREPARED BY: COLLIERS MANUFACTURED HOUSING & LAND GROUP 2385 NW Executive Center Drive, Suite 350 Boca Raton, FL 33431 CONFIDENTIALITY & DISCLAIMER STATEMENT Intended solely for your own limited use to determine whether you wish to express any further interest in the Property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by Colliers International South Florida, LLC, primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor Colliers International South Florida, LLC, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective offers are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the Property from the market at any time, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the Property or the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Colliers International South Florida, LLC. OFFERING PROCEDURE PREPARED BY: MIKE NISSLEY HEATHER BLANKENSHIP Offers should be submitted in the form of a standard non-binding Letter of Intent, which can be found on the National Director, Director, Colliers International Document Center, and must specify the following: Manufactured Housing Group RV Business Development • Price (Call for pricing guidance) [email protected] Manufactured Housing & RV Group • Length of Inspection Period +1 561 479 1588 [email protected] +1 865 456 4047 • Length of Closing Period • Amount of earnest money deposit at execution of a Purchase and Sale Contract SEAN OLD Associate, • Amount of additional deposit upon expiration of Inspection Period Manufactured Housing & Land Group [email protected] www.colliers.com/manufacturedhousing +1 561 558 6363 Table of Contents > THE OFFERING > MARKET OVERVIEW Executive Summary ................................................................................................................... 4 Market Overview ........................................................................................................................ 8 Investment Summary ................................................................................................................. 5 Dollywood Summary.................................................................................................................. 9 Demographic Summary ............................................................................................................. 5 Property Summary ................................................................................................................... 6 > ABOUT US Photos & Parcel Layout ............................................................................................................ 7 The Manufactured Housing & Land Group ............................................................................... 10 Colliers at a Glance .................................................................................................................... 11 Executive Summary Collier Manufactured Housing & Land Group is pleased to offer an outstanding opportunity 15-miles to acquire a 100% fee simple interest in a ±16.15-acre multi-use commercial development AADT: 48,080 site located at the southeast corner of Wears Valley Road and Manis Road, Wears Valley, Tennessee. This site has over 1,000 feet of frontage on Wears Valley Road and is located approximately ten miles west of US Highway 321 (Pigeon Forge). The Subject has no approvals in place and the density is subject to septic drain field approval by the city. Sevierville The entire parcel covers approximately 3,500 feet in circumference and has no known wetland issues. The southern portion of the parcel lies within the 100-year flood zone but otherwise remains high and dry. The parcel is zoned C-2 (General Commercial District), by Sevier County, and has public access to water and sewer connections. 10-miles Area. AADT: 50,360 The site is bounded on the south by Roundtop Drive which leads to a residential district, on the east by a private driveway of an Industrial Storage Warehouse, the west by Manis Road which fronts a ±5 acre residential parcel, and the north by Wears Valley Road which AADT: 10,800 fronts multiple parcels maintaining mostly residential zoning. Nearby properties include 5-miles Pigeon Forge Cabins Rentals, RV Resorts, Motels, Restaurants, Churches, local shopping, and other recreational amenities. AADT: 49,020 With Gatlinburg sitting roughly 8-miles due east, just over the Gatlinburg Bypass, and 2-miles Pigeon Forge sitting just under 9-miles northeast, the entire local economy is comprised of dense tourism and hospitality. The surrounding area is characterized by the scenic AADT: 8,090 Great Smoky Mountains, log cabins, famous amusement parks, and rich country music AADT: 33,150 history. Sevier county and its municipalities are primarily residential, commercial, and light industrial with supporting retail and professional office. Most residents commute to employment centers in the surrounding tourist area and nearby cities. Gatlinburg The Subject property’s southwestern Sevier County location makes it Subject Site suitable for commercial transit-hospitality, outdoor recreation, or residential development. This is a well-located property in a mature and growing market. 4 | Investment Summary DEMOGRAPHICS Located roughly 15 miles southwest of downtown Pigeon Forge, 5 miles northeast of Townsend’s city center, this ±16.15-acre development opportunity is one of the POPULATION 4 Mile 8 Mile 15 Mile largest vacant parcels along Hwy 321 with the potential to be developed into an 2010 Total Population 3,000 13,444 87,338 institutional quality asset impacting the entire neighborhood. 2019 Total Population 3,167 14,197 93.436 With over 1,000 feet of frontage along the southern side of Wears Valley Road, 2024 Total Population 3,278 14,670 97,049 and surrounded by various land uses that include Residential, Commercial, 2019-2024 Annual Growth Rate 0.69% 0.66% 0.76% Manufactured Home Park, and RV Campground, the offering benefits from having several development paths included under the R-1, R-2, R-2M, and C-1 zonings. 2019 Median Age 53.9 49.8 44.4 The property, as per Sevier County, sits within the CS - Critical Slope District and HOUSEHOLD 4 Mile 8 Mile 15 Mile may need further approvals. 2019 Households 1,350 5,834 36,942 Median home prices in the immediate area range from $150/SF to $180/SF, 2024 Households - Five Year Projection 1,398 6,032 38,349 average rents of apartments primarily range from $1,100 to $1,600 per month or 2019 Housing Units - Owner Occupied 1,097 4,422 27,140 $1.20 to $1.60 per square foot. RV Resorts in the area record and average monthly rate range of $821 to $1,288 with the average site count at 135 camping sites. 2019 Housing Units - Renter Occupied 253 1,412 9,802 2024 Housing Units - Owner Occupied 1,146 4,625 28,579 The unincorporated city of Wears Valley and Sevier County both promote and 2024 Housing Units - Renter Occupied 252 1,407 9,770 encourage growth. It is noted in the Zoning Resolution, dated April 15, 2019, the Planning and Zoning board issues Special Exemptions for alternate land uses in HOUSEHOLD INCOME & SPENDING 1 Mile 3 Mile 5 Mile just 14 business days. This jurisdiction does post different zoning district overlays 2019 Average Household Income $59,144 $58,813 $64,116 to control density versus off-site requirements. 2024 Average Household Income $67,393 $66,581 $71,506 2019 Median Household Income $50,134 $45,007 $50,685 “This offering provides various opportunities 2024 Median Household Income $54,055 $50,208 $53,791 to maximize value in developing an impactful 2019 Per Capita Income $24,951 $24,312 $25,338 neighborhood.” 2024 Per Capita Income $28,463 $27,542 $28,239 PRICE/ACRE: $ 61,920 SALE PRICE: $ 1,000,000 5 | COLLIERS INTERNATIONAL Property Summary The Subject comprises approximately 16.15 acres of land within the Sevier county limits. The site is located less than 10 miles southwest of Pigeon Forge, the main tourist area, and at the base of the Great Smoky Mountains National Forest. The Property is surrounded by a mix of commercial, residential, and agricultural development, with direct access to local amenities, restaurants and HWY-441. Property information is summarized below: Wears Valley Road Property Address Pigeon Forge, TN 37862
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