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129 Sugarfoot Way 16 Unit Apartment Building $10,050,624 CAD ($628,164 CAD/Unit) 10.79% Cap Rate Pigeon Forge, TN 37863
INVESTMENT HIGHLIGHTS
- Brand New Construction – 16 turnkey units, never occupied, offering immediate appeal and minimal maintenance.
- Prime Location – Situated in Pigeon Forge, just minutes from Dollywood, The Island, and the Parkway, ensuring year-round rental demand.
- Investment Flexibility – Ideal for short-term rental operators, long-term multifamily investors, or condo conversion strategies.
- Strong Return Potential – Pro-forma analysis projects a 19.25% ROI, driven by premium rental demand and zero deferred maintenance
- Tourism-Driven Market – Located in Sevier County, which welcomes over 13 million visitors annually.
- Limited Competition – Few new-build multifamily assets in the area, creating scarcity value and positioning this property as a standout opportunity.
EXECUTIVE SUMMARY
Welcome to 129 Sugarfoot Way, a brand-new 16-unit condominium complex strategically located in the
heart of Pigeon Forge, Tennessee—one of the Southeast’s most dynamic tourism and investment
markets. Nestled just minutes from the Parkway, Dollywood, and The Island, this property also
enjoys walkable access to Publix grocery store, the popular Lumberjack Feud Show, a cluster of
shops including the Pigeon Forge Cinema, and the Pigeon Forge Community Center with recreation
facilities and pools. This unbeatable combination of convenience and entertainment offers unmatched
appeal.
Designed with modern efficiency and investor appeal in mind, the complex has never been occupied,
ensuring low deferred maintenance and immediate income potential. Its location in Sevier County—
welcoming over 13 million visitors annually—positions it as a rare opportunity for both short-term
rental operators and long-term multifamily investors seeking premium returns.
Unit Breakdown
• 1-Bedroom Units (760 sq. ft.)
Perfect for couples, professionals, or short-term rental guests seeking affordability and
convenience.
• 2-Bedroom Units (1,065 sq. ft.)
Spacious layouts ideal for small families or extended stays, balancing comfort with strong rental
demand.
• 3-Bedroom Units (1,213 sq. ft.)
Premium units designed for larger families or group rentals, maximizing nightly rates and long-term
tenant appeal.
This thoughtful mix of unit sizes ensures broad marketability across multiple tenant and guest
demographics.
Investment & ROI Potential
• Pro-forma ROI: 19.25%
Backed by strong rental demand, premium nightly rates, and minimal operating costs due to new
construction.
• Flexibility of Strategy:
• Operate as a short-term rental hub to capture tourism dollars.
• Lease as long-term multifamily units for stable cash flow.
• Pursue a condo conversion strategy, selling units individually at a premium.
• Scarcity Value: With limited new multifamily inventory in Pigeon Forge, this asset stands out as a
rare, high-yield opportunity.
heart of Pigeon Forge, Tennessee—one of the Southeast’s most dynamic tourism and investment
markets. Nestled just minutes from the Parkway, Dollywood, and The Island, this property also
enjoys walkable access to Publix grocery store, the popular Lumberjack Feud Show, a cluster of
shops including the Pigeon Forge Cinema, and the Pigeon Forge Community Center with recreation
facilities and pools. This unbeatable combination of convenience and entertainment offers unmatched
appeal.
Designed with modern efficiency and investor appeal in mind, the complex has never been occupied,
ensuring low deferred maintenance and immediate income potential. Its location in Sevier County—
welcoming over 13 million visitors annually—positions it as a rare opportunity for both short-term
rental operators and long-term multifamily investors seeking premium returns.
Unit Breakdown
• 1-Bedroom Units (760 sq. ft.)
Perfect for couples, professionals, or short-term rental guests seeking affordability and
convenience.
• 2-Bedroom Units (1,065 sq. ft.)
Spacious layouts ideal for small families or extended stays, balancing comfort with strong rental
demand.
• 3-Bedroom Units (1,213 sq. ft.)
Premium units designed for larger families or group rentals, maximizing nightly rates and long-term
tenant appeal.
This thoughtful mix of unit sizes ensures broad marketability across multiple tenant and guest
demographics.
Investment & ROI Potential
• Pro-forma ROI: 19.25%
Backed by strong rental demand, premium nightly rates, and minimal operating costs due to new
construction.
• Flexibility of Strategy:
• Operate as a short-term rental hub to capture tourism dollars.
• Lease as long-term multifamily units for stable cash flow.
• Pursue a condo conversion strategy, selling units individually at a premium.
• Scarcity Value: With limited new multifamily inventory in Pigeon Forge, this asset stands out as a
rare, high-yield opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
- Miscellaneous
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Range
- Views
- Handrails
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Security System
- Wheelchair Accessible
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 760 |
| 2+2 | 8 | - | 1,065 |
| 3+2 | 4 | - | 1,213 |
PROPERTY TAXES
| Parcel Number | 083-026.00 | Total Assessment | $128,313 CAD |
| Land Assessment | $114,019 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $14,294 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
083-026.00
Land Assessment
$114,019 CAD
Improvements Assessment
$14,294 CAD
Total Assessment
$128,313 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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