Land for Hotel Site, Restaurant, and More Near Fall Creek Falls

Vacant Land for Sale
Catylist Listing ID: 30223190
Property Subtypes: Hospitality, Residential (Single Family), Vacation/Resort, Other
Gross Land Area: 8.30 Acres
Sale Price: $550,000
Unit Price: $66,265 Per Acre
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 7/2/2018

Overview / Comments

8.3-acre parcel located on Hwy 111 across from the entrance to Fall Creek Falls State Park. Current owners have taken this commercial parcel through county and state planning, zoning, and ordinance boards and have received approval for a hotel, restaurant site, wedding chapel with 8 cabins, and 24-unit villa site. Rendering of plan is available for review. This site is nestled on a stretch of Hwy 111 between Dunlap and Cookeville, TN, where there are currently no restaurants or hotels. This highway is known for its scenic beauty and is the main throughway between North Hamilton County and Cookeville, TN. Already approved for industrial/commercial use, with natural gas, electric, water and sewer.

Offering tremendous views for miles and miles, the 158 acres behind it is ready and available for purchase and future development as well. With the Fall Creek Falls convention center Now Closed for demolition to make room for a brand new hotel and convention center, this is the perfect time to invest in the area. There is a huge shortage of vacation rentals in the Spencer, TN area around Fall Creek Falls. Investors, entrepreneurs, builders, and developers, don't miss this rare opportunity to be part of a Spencer's growth!

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Van Buren
Tax ID/APN: 039 051.00
Property Located Between: Dunlap and Cookeville, TN
Legal Description: Mineral Tract 46-Gm
Largest Nearby Street: Hwy 111
Available Utilities: Electric, Water, Gas, Sewer

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,763 3,181
Median Age: 43.99 45.09
Households: 713 1,294

Contact

Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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