Sperry Van Ness | R. M. Moore, LLC is pleased to exclusively offer for sale the Rodeway Inn and Smoky Mountain Pancake House, located on the Parkway (US 441) in the Smoky Mountains resort city of Pigeon Forge. The property site consists of 2.5 commercially zoned acres improved with three hotel buildings, an outdoor pool, and a free-standing restaurant building.
This older exterior corridor, limited service property is well-maintained and operated by experienced local hoteliers. It has superior Parkway visibility and access.
The operations of the free-standing 6,528 square foot restaurant do not contribute positively to NOI, and in fact are a drain on it. As an alternative, the restaurant could be net leased to an independent operator, providing an excellent upside for the property. The Offering Memorandum presents the 2013 actual financials and also a proforma that presents this scenario.
• 117 rooms, Parkway views, pool-side rooms• 720 front feet on the Parkway, the main artery for 12 million annual area visitors• Convenient to Dollywood, Gatlinburg, Great Smoky Mountains National Park• and a huge variety of attractions, restaurants, shops, and show theaters• 40,344 average daily traffic count. - Parking description: Onsite, paved - Area description: The property is located within the Pigeon Forge city limits, on the west and southbound side of the Parkway (US 441). It is located at the signalized intersection of Parkway and Conner Heights Road. - Number of buildings: 4 - Number of units: 117 - Building condition: Good
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