107 Lay Hollow Rd, Sharps Chapel, TN 37866
- $2,700,000
- 1,624
- SqFt
- List Price
- $2,700,000
- Price Change
- ▼ $400,000 1784942097
- MLS#
- 3250984
- Days on Market
- 9
- Property Type
- Multifamily
- Sqft. of Residence
- 1,624
- County
- Union County
- Status
- ACTIVE
Property Description
Rare mixed-use investment portfolio featuring two income-producing assets in Union County, TN, located approximately 10 minutes apart. This diversified investment includes campground/RV income, multifamily, self-storage, residential rentals, and ancillary revenue with immediate upside and future expansion potential. Portfolio now offered at $3,800,000. The seller has agreed to complete the current expansion as part of the sale, including 14 new campground pads at Sharps Chapel and 7 new camper/RV pads at the Maynardville property. Upon completion, projected annual NOI increases by $138,600 to approximately $491,424, representing a 12.93% projected cap rate at the asking price. Sharps Chapel Campground (107 Lay Hollow Rd) features 43 long-term campground sites, 52 self-storage units, an on-site laundromat, and a 1,624 SF (3BR/1BA) home. The campground is approximately 90% occupied with stable long-term tenants. The included 14-pad expansion is currently under construction, and the seller will remain involved after closing to complete the project. The property also offers future potential to add 25 additional RV parking spaces. 6367 Maynardville Highway includes a 5-unit apartment building, two single-family homes, two mobile homes, and five self-storage units. As part of the sale, the seller will complete 7 new camper/RV pads, creating additional income while preserving future development opportunities. Investment highlights include diversified income streams, established long-term occupancy, seller-funded expansion included in the purchase, projected NOI of $491,424, and a 12.93% projected cap rate. Located near Norris Lake in the growing East Tennessee market, this portfolio offers stabilized cash flow, immediate value-add through the included expansion, and long-term upside through future RV development.
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Additional Information
- Construction Type
- Frame
- Cooling System
- Central Air
- Elementary School
- Sharps Chapel Elementary
- Floor Types
- Carpet, Wood, Vinyl
- Heating System
- Central, Electric
- High School
- Union County High School
- Junior High School
- H Maynard Middle School
- Laundry
- Share
- Living Area
- 1,624
- Lot Dimensions
- 16 acres
- Number Of Stories
- 1
- Roofing Material
- Steel
- Sewer System
- Septic Tank
- Tax Amount
- $3,627
- Water Source
- Private
- Year Built
- 1963
- Type
- Multifamily
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Listing courtesy of MRG Realty Partners.
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