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    1435 Highway 139

    Dandridge, TN 37725
    • $2,100,000
    • STATUS: Active Under Contract
    • ON SITE: 38 days
    • ID#: 242159
    Under Contract
    UPDATED: 19 min ago
    $2,100,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    N/A
    Type:
    Commercial
    Built:
    1940
    County:

    School Ratings & Info

    Listing courtesy of Jackson Real Estate And Auction.


    Description

    It is not everyday that an opportunity like this presents itself. Douglas Lake in beautiful East TN has very minimal options as far as restaurants accessible via the waterway and this one just happens to be for sale. The current owners are trying to decide what their next step in life will be and for now the decision is to continue operating until the property sells. This is such a unique property that it will be best just to list off everything that is included with the sale of the eight parcels: 1. Fire Lake Grill (formerly Cowboy's Restaurant) is a 4,802 square feet restaurant with capacity of 135 people inside and 75 more people outside including a newly renovated tiki bar area. 2. The first standalone home is 1,224 square feet and rented for $1,200 per month totaling $14,400* per year 3. The second standalone home is 1,982 square feet and rented for $1,500 per month totaling $18,000* per year 4. There is a motel consisting of 6 units. They currently rent them by the month. They charge $975 per month but that includes utilities. They have in the past rented them for $475 per week and/or $80 per day. $975/month = $70,200* per year $475/week = $148,200* per year $80/day = $175,200* per year 5. There are 48 boat slips that are leased out at $875 per year totaling $42,000 and then the third dock is actually used for restaurant parking (the red one) *Total gross income based on facts and figures provided by sellers If you don't have a desire to run a restaurant but need to invest some capital there have been offers in the past to rent the restaurant for up to $6,000 per month. If every item here was rented in a monthly capacity that would total $216,600 in gross rental income. The options for a total teardown and construction of new homes or condos have been discussed, as well as a full functional marina. However this would all hinge on approval from the Jefferson County Zoning and Planning Commissions. Aerial Photography used in some photos

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    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Suzanne Walls with eXp Realty. Information deemed reliable but not guaranteed. Last updated 2021-07-30T23:15:34.207.
    www.realestatewithsuzanne.com/homes/118537460
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    1435 Highway 139 Dandridge, TN 37725

    • Price: $2,100,000
    • Status: Active Under Contract
    • Updated: 19 min ago
    • ID#: 242159
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1940
    Built
    Neighborhood:
    N/A
    County:
    Jefferson
    Area:
    Jefferson County
    Property Description
    It is not everyday that an opportunity like this presents itself. Douglas Lake in beautiful East TN has very minimal options as far as restaurants accessible via the waterway and this one just happens to be for sale. The current owners are trying to decide what their next step in life will be and for now the decision is to continue operating until the property sells. This is such a unique property that it will be best just to list off everything that is included with the sale of the eight parcels: 1. Fire Lake Grill (formerly Cowboy's Restaurant) is a 4,802 square feet restaurant with capacity of 135 people inside and 75 more people outside including a newly renovated tiki bar area. 2. The first standalone home is 1,224 square feet and rented for $1,200 per month totaling $14,400* per year 3. The second standalone home is 1,982 square feet and rented for $1,500 per month totaling $18,000* per year 4. There is a motel consisting of 6 units. They currently rent them by the month. They charge $975 per month but that includes utilities. They have in the past rented them for $475 per week and/or $80 per day. $975/month = $70,200* per year $475/week = $148,200* per year $80/day = $175,200* per year 5. There are 48 boat slips that are leased out at $875 per year totaling $42,000 and then the third dock is actually used for restaurant parking (the red one) *Total gross income based on facts and figures provided by sellers If you don't have a desire to run a restaurant but need to invest some capital there have been offers in the past to rent the restaurant for up to $6,000 per month. If every item here was rented in a monthly capacity that would total $216,600 in gross rental income. The options for a total teardown and construction of new homes or condos have been discussed, as well as a full functional marina. However this would all hinge on approval from the Jefferson County Zoning and Planning Commissions. Aerial Photography used in some photos
    Exterior Features

    Construction Vinyl SidingWood Siding Exterior Features Paved Parking

    Interior Features

    Basement None Bonus Rooms No Cooling Electric Heat Pump Heating Electric Heat Pump Interior Features Restrooms Stories Other

    Property Features

    Annual Tax 0.00 Commercial Type Other Commercial Common Area Maintenance Other Current Use Food ServiceMotel/Hotel District 02 Lot Block Unit Multiple Owner Financing No Proposed Financing CashConventional Restrictive Covenants No Suitable Use Food ServiceMotel/Hotel Tax Year 2020 Utilities Cable Tv AvailableElectricity AvailableNatural Gas ConnectedInternetWater Available Zoning C-1 Zoning Entity Jefferson County

    Copyright 2021 Great Smoky Mountains Association of Realtors. Information deemed reliable but not guaranteed. Listing provided courtesy of Jackson Real Estate And Auction | Office Phone: 8653974214 .

    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Suzanne Walls with eXp Realty. Information deemed reliable but not guaranteed. Last updated 2021-07-30T23:15:34.207.
     
    https://bt-photos.global.ssl.fastly.net/gsmar/orig_boomver_1_242159-2.jpg https://bt-photos.global.ssl.fastly.net/gsmar/orig_boomver_1_242159-2.jpg https://bt-photos.global.ssl.fastly.net/gsmar/orig_boomver_1_242159-2.jpg
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    Suzanne Walls with eXp Realty
    200 E Broadway Ave Suite 504
    Maryville TN, 37804
    Listing courtesy of Jackson Real Estate And Auction.