460 Boat Gunnel Road
Townsend, TN, 37882 $ 3,495,000
Bedrooms20 Baths18.1 Sq 13,121 for $3,495,000 with 20 bedrooms and 18 full baths, 1 half bath. This 13,121 square foot property was built in 2002 on a lot size of 20.86.
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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FeaturesGeneralSewer Septic Tank
Heating Electric
Cooling Central Air Wall Unit(s)
Possession Close Of Escrow
Garage Spaces 0.0
Construction Materials Log
Year Built 2002
Property SubType Multi Family
Tax Year 2022
County Blount
New Construction N
Property Type Residential Income
HOA / Comm Assn N
Attached Garage N
Subdivision Name Other
Garage Y/N N
Status Active
Directions From Maryville: Turn left onto US-321 N/E Lamar Alexander Pkwy. Turn right onto Old Tuckaleechee Rd. Turn left onto Boat Gunnel Rd This property has active bookings under property management company.
City Townsend
View Y/N N
Total Units 9
MLS Area Townsend/Walland
Lot Size Square Feet 908661.6
Waterfront Y/N N
Carport Y/N N
Street Name Boat Gunnel
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 12876.6
Home Warranty Y/N N
MLS Area Minor Townsend/Walland
Additional Parcels Y/N N
Rent Control Y/N N
Standard Status Active
Tax Lot 114.04/2
Senior Community None
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ExteriorWater Source Well Other
Lot Size Area 20.86
Spa N
Building Area Total 13121.0
Lot Size Acres 20.86
Lot Size Units Acres
Road Frontage Type Easement
Open Parking Y/N N
Horse Y/N N
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InteriorFireplace Features Gas Log
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N Y
Full Baths 18
Half Baths 1
Street Suffix Road
Total Bedrooms 20
Electric On Property Y/N N
Total Baths 19
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* Excluded FeaturesList ByExp Realty, Llc NashvilleBroker
morganpagelarue@gmail.comEmail
NearbyAbout Townsend, TN 583 Population
22% Since 2002
$ 43,952 Median Income
53.64 Median Age
10% Households with Children
Trends Information provided by ATTOM Data Solutions.
2009826 Elementary School
2009827 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
1/9/2024 | $3,495,000 | | Listed Price |