August 10, 2021 — Knoxville, Tenn. [Hospitality Sale] – Coldwell Banker Commercial Wallace announces the sale of Carr’s Northside Cottages and Motel at 421 W. Laurel Road in Gatlinburg, Tennessee. The property sold for $4.15 million.
A family-owned property for 40 years, a large part of this 49-unit cabin and motel complex was destroyed by the 2017 Gatlinburg fires. The seller rebuilt the property and decided to retire.
Jim Staley, CCIM and John Rebori, CCIM of Coldwell Banker Commercial Wallace represented the seller and attracted the interest of the buyer, an Alabama hotel operator and investor.
The areas in and around the Smoky Mountains have experienced growth, even in the midst of the COVID-19 pandemic. According to a recent NAR report, East Tennessee’s Sevier County ranked 16th out of the top 30 vacation home counties with the largest net domestic migration.
John Rebori, CCIM can be reached at johnrebori@gmail.com or 865-604-9012. Contact him for more information.