x
Breaking News
More () »

Sevier Co. realtor: Diverse tourism driving commercial growth

Properties like the Smoky Mountain Palace are ready to be redeveloped, and one realtor says the real estate business is looking up in Sevier County.

Sevier County real estate remains very much in demand, with at least a couple big commercial sites ripe for redevelopment.

One realtor says he's seeing a new trend in the market, and what sits empty now won't be empty for long.

"It's great for legacy acts. So classic rock 'n roll, classic country," realtor Randy Patterson said, speaking about the Smoky Mountain Palace.

Patterson works with Kings of Real Estate, and is selling the Smoky Mountain Palace, which has hosted lots of concerts throughout the years.

"If they do go through with what they're dealing with and planning on here, it'll be a wonderful combination of multimedia here," Patterson said.

He's asking for nearly $10 million for the concert hall.

Smoky Mountain Palace is one a few commercial properties in Sevier County that are up for sale and have been empty for years.

The Palace has been on the market for only about four months, and Patterson has had four offers on it.

"A little bit of work needs to be done on it, but for a little bit of work, it can generate a tremendous amount of revenue," Patterson said.

It's one of two buildings on Collier Road that could see changes soon.

The NASCAR Cafe has been empty for years, but Patterson said more buyers getting in on the market will help that site sell along with his theater.

"It's looking like it's going to go nowhere but up," Patterson said. "And I think the main reason for that is we're seeing a change in the demographic of people that are coming here to enjoy this beautiful area that God's given us."

A more diverse group of tourists now coming to Sevier County that have diverse interests.

It's a shift, Patterson said, that's developed since the Great Recession of the late 2000s and the wildfires of 2016.

"There were a lot of people that were planning on coming here for vacations, and just the perception of the fires wiping things out, they canceled those plans," Patterson said.

But nearly 18 months later, the market has rebounded.

"Things are coming back so incredibly strong, so incredibly quick, and the quality is being built in too," Patterson said. "So it's not a 'slaphazard' type of situation."

The new trend is filling an empty building with hope for something new.

The palace here has nearly 1,700 seats, all of which Patterson hopes will be filled for concerts, or maybe something new, in the future.

Before You Leave, Check This Out