223 Sharon Drive, Pigeon Forge, TN 37863

Property Description

Rare C-2 Redevelopment Opportunity | Pigeon Forge Tourism Corridor Rare opportunity to acquire one of the few remaining commercially zoned redevelopment sites in the heart of Pigeon Forge's thriving tourism district. Positioned within the Sharon Drive lodging corridor and surrounded by established hotels, resorts, restaurants, and condominium developments, this approximately 0.68-acre C-2 zoned property offers exceptional redevelopment potential just off the Parkway -- minutes from Dollywood, The Island in Pigeon Forge, LeConte Event Center, and Great Smoky Mountains National Park. Owner financing is available for qualified buyers. Ownership has completed preliminary planning and architect-prepared conceptual development plans illustrating two potential development scenarios: an approximately 18-unit short-term rental condominium project (15 two-bedroom/two-bath units and 3 three-bedroom/two-bath units) and an alternative lower-density residential concept. Both concepts were informally reviewed with City of Pigeon Forge zoning staff, who indicated they appear consistent with the property's current C-2 zoning. No formal site plan, engineering, or governmental approvals have been sought or granted, and future development remains subject to the City's normal review, permitting, and approval process. Purchasers are encouraged to evaluate these and other hospitality, lodging, mixed-use, or commercial concepts that best fit their investment objectives and market strategy. Strong visitor demand, continued public and private investment, and the limited availability of commercially zoned redevelopment sites combine to make this an outstanding opportunity for commercial developers, condominium and hospitality developers, 1031 exchange buyers, and private investors. Preliminary market analysis indicates strong short-term rental revenue potential, and ownership has assembled valuable due diligence materials -- including conceptual site plans, preliminary architectural layouts, and market research -- giving prospective purchasers a significant head start in evaluating the property's redevelopment potential. Why This Property C-2 commercial zoning Approximately 0.68-acre parcel Prime location within the Pigeon Forge tourism corridor Minutes from Dollywood, The Island, LeConte Event Center, and Great Smoky Mountains National Park Surrounded by established hotels, resorts, restaurants, and condominium developments Existing utilities available (public water, sewer, electric, and natural gas) Existing residence on-site provides flexibility during planning Architect-prepared conceptual development plans available -- 18-unit STR condominium concept and an alternative lower-density residential concept Concepts informally reviewed with City zoning staff and indicated as consistent with current C-2 zoning Owner financing available for qualified buyers, with flexible terms Offering Ownership's preference is an outright sale; however, creative acquisition structures may be considered for qualified purchasers, including owner financing, seller participation, phased acquisitions, joint ventures, or other mutually beneficial transaction structures.