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460 Boat Gunnel Road
Townsend TN 37882 US

$3,495,000

Active Listing ID 267860
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20 bed
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19.00 Bath (18 Full Bath , 1 Half Bath)
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Lot: 20.86 Acres

$3,495,000

Active Listing ID 267860
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460 Boat Gunnel Road Nestled within the enchanting embrace of the Great Smoky Mountains; Townsend, the Peaceful Side of the Smokies. This exclusive resort offers a haven of tranquility spanning a vast expanse of 20.86 acres. With altitudes at 1, 500 feet, guests are treated to truly majestic views that unfold across the breathtaking landscape. Boasting a financially successful track record, this property has quickly become a highly lucrative investment, primarily through its thriving short-term rental (STR) business. The resort's impressive rental income figures tell a compelling story—generating over $270, 000 in its inaugural year of operation in 2022 and surpassing that with a fully booked second year in 2023, with earnings reaching $287, 000. Projections for 2024 indicate a continued upward trajectory. Resort features a total of 8 cabins, including 5 traditional cabins and 3 treehouse cabins, each authentically and fully turnkey furnished. With a total of 56 sleeping accommodations comprising 15 bedrooms and 15.5 bathrooms, every cabin is meticulously maintained and lavishly equipped to ensure a comfortable and unforgettable experience for guests. Beyond the luxurious accommodations, guests can immerse themselves in the serenity of hiking trails that meander through the expansive property to connect with nature. Originally vacant for nearly 15 years, the current owner has quickly transformed this property into a flourishing STR business with no restrictions or limitations. You have flexibility to self-manage the property and set personalized rates or opt for a preferred property management company to oversee operations. Strategically positioned just 2 minutes away from Townsend's bike greenway and river-tubing hub, the resort enjoys a centralized location within proximity to esteemed attractions, including Cades Cove, Gatlinburg, Pigeon Forge, and Sevierville. Extensive updates, such as the installation of arcade games, hot tubs, plumbing infrastructure, HVAC units, and fire pits, have been thoughtfully completed across all 8 cabins. While the existing 8 cabins are flourishing, there's untapped potential for revenue growth on the property. The 360 Lodge, the 9th cabin, holds potential annual revenues ranging from $185, 000 to $225, 000. Additionally, a pavilion with its separate septic system and water well offers the potential to be converted into a 1-2 bedroom rental, yielding expected revenues of $35, 000 to $55, 000. A small barn also holds promise as a remarkable event venue, estimated to generate revenues of $120, 000. Prospective buyers are encouraged to coordinate with the listing agent or be represented by a real estate agent before visiting the property, given its consistently booked status. This represents an extraordinary opportunity to own a slice of Great Smoky Mountain paradise, complete with a thriving STR business and boundless potential for growth and expansion.

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Property Features

  • Facts
  • Lot Size: 20.86 Acres
  • Property Type: Residential Multi Family
  • Features
  • Full Bathrooms: 18
  • 1/2 Bathrooms: 1
  • Cooling System: Wall Unit(s) A/C
  • Heating Fuels: Fireplace
  • Additional Features
  • Fireplace

Property

  • propertytype: Residential Multi Family
  • listprice: 3495000
  • unparsedaddress: 460 Boat Gunnel Road
  • postalcity: Townsend
  • stateorprovince: TN
  • country: US
  • postalcode: 37882
  • bathroomsfull: 18
  • bathroomshalf: 1
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 20.86
  • lotsizeunits: Acres
  • lotsizearea: 20.86
  • livingarea: 13121
  • livingareaunits: Square Feet
  • latitude: 35.662946
  • longitude: -83.763674
  • listagentfullname: Morgan LaRue
  • listagentemail: morganpagelarue@gmail.com
  • listagentkey: 3yd-GSMARTN-7689
  • listagentmlsid: 7689
  • listagentpreferredphone: 8652939553
  • listagentofficephone: 8885195113
  • listofficekey: 3yd-GSMARTN-701
  • listofficemlsid: 701
  • disclaimer: Copyright © 2024 Great Smoky Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: GSMARTN
  • yearbuilt: 2002
  • listingcontractdate: 2024-01-08
  • countyorparish: Blount
  • cooling: Wall Unit(s) A/C
  • constructionmaterials: Log
  • heating: Fireplace
  • numberofunitstotal: 9
  • fireplaceyn: True
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • waterfrontyn: False
  • architecturalstyle: Other
  • rooms: Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: False
  • location: -83.763674, 35.662946
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Listing Changed: 4/15/2024 3:30:51 PM GMT
Source Updated Date: 4/29/2024 6:53:03 AM GMT

Courtesy of: Morgan LaRue, eXp Realty, LLC Nashville, morganpagelarue@gmail.com

Copyright © 2024 Great Smoky Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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