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304 Hemlock Street

304 Hemlock Street, Gatlinburg, TN 37738
Commercial in Sevier
Sold Nov 02, 2022
$1,000,000
$10,917,000 by Tennessee State Bank
Mortgage Due Oct 31, 2027
304 Hemlock Street in Gatlinburg, TN was first built in 1950 and is 74 years old. Although, the building on the property was most recently renovated and altered in 1991. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a unknown. It is a single story home. In terms of bathrooms, there is only one bathroom. There is a 1 partial bathroom. 304 Hemlock Street has 1,135 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The basement is 500 sqft and has been categorized as a partial basement. The linear feet across the front of the lot is 1,170 ft and the linear feet between the front and back of the lot is 790. In total, the area measurement of the land is 13,068 square feet.

Learn more about the property and building on this page. There is a unknown and a unknown. The home has a gable or hip style roof made of composition shingle. Water for the property is sourced from a municipal system. The home is connected to a municipal sewage system. So as a homeowner, you won't have to worry about the responsibilities of handling a septic tank but you may need to pay additional fees to have your wastewater disposed. The quality of the control joints have been graded by the local assessor with a letter grade of B+. The condition of the building has been evaluated as average. The exterior walls of the home are made of unknown. While the interior walls are made of paneling. Walk inside and you'll find flooring throughout the home. As for heating, the home is utilizing a radiant heating system. There is a fireplace in the home! Just imagine how amazing it would be to curl up in front of a cozy fireplace during those chilly winter nights. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 304 Hemlock Street sold most recently in Oct 31, 2022 for a total of $1,000,000. If you work out the math, that's approximately a cost of $881.06 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $773 in taxes each year. 304 Hemlock Street was most recently assessed in 2024. During this assessment, the property's total value was estimated to be about $52,200. If we break it down further, the land itself was valued at $19,700. Improvements to the property, however, were assessed at a total of $32,500. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1991
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Bathroom Plumbing Fixtures: 3
  • Building Condition: Average
  • Building Quality: B+
  • Interior Walls Type: Paneling
  • Roof Shape Type: Gable or hip
  • Roof Cover Type: Composition shingle
  • Floor Count: 1
  • Living Units: 1
  • Floor Cover: Carpet
  • Basement Type: Partial basement
  • Basement Area: 500
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 13,068
  • Lot Size Depth Feet: 790
  • Lot Size Frontage Feet: 1,170
  • Total Building Area: 1,135
  • Gross Building Area: 1,225
  • Building Area: 1,135
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: unknown
  • Heating: Radiant
  • Heated Square Feet: 1,135
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: Municipal
  • Water Service: Municipal

Building

  • Property Class: Residential
  • Subdivision: SMOKEY HGTS
  • Land Acres: 0.3
  • Standard Land Use Code: Single family residential
  • Legal Description 1: SMOKEY HGTS PB 35 PG 349 LOT 6-R 173.26 X 88.19 IRR

Ownership

  • Current Owner : ROCKY WATERS MOTOR INN LLC
  • Previous Owner : RALPH H LAWSON JR TRUST
  • Ownership Rights Codes: unknown
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Sevier County School District
  • School Tax School District: 78287
  • Census Tract: 081103

Zoning

  • Zoning: C-2

Geography

  • Assessors Map Reference: 126E
  • District: 11
  • Parcel: 126E-A-030.00
  • Lot: 6R
  • Municipality: GATLINBURG
  • Latitude: 35.7192
  • Longitude: -83.5112

    Address

  • Full Address: 304 Hemlock St
  • Address - House Number: 304
  • Address - Street Name: Hemlock
  • Address - Suffix Type: St
  • State: TN
  • City Name: Gatlinburg
  • Zip Code: 37738

Valuation

    Tax

  • Total Area: 635
  • Tax Year: 2023
  • Tax Amount: $773
  • Tax Rate Code Area: 78A01

    Appraisal Valuation

  • Standard Deviation: 0.4591
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 8
  • Final Value: 1,354,866
  • High Value: 1,976,932
  • Low Value: 732,799

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $10,917,000
  • First Open Lien Mortgage Lender: TENNESSEE STATE BANK
  • First Open Lien Mortgage Recording Date: Nov 02, 2022
  • First Open Lien Mortgage Loan Amount: $10,917,000
  • First Open Lien Mortgage Term: 60
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: Building or Construction Loan
  • First Open Lien Mortgage Loan Due Date: Oct 31, 2027

    Market Valuation

  • Market Total Value: $208,800
  • Market Land Value: $78,800
  • Market Improvement Value: $130,000

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $52,200
  • Assessed Land Value: $19,700
  • Assessed Improvements Value: $32,500

    Sales

  • Current Sale Contract Date: Oct 31, 2022
  • Current Sale Recording Date: Nov 02, 2022
  • Current Sale Transaction ID: 11898264496
  • Current Sale Price: $1,000,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 42481

    Last Sale Mortgage

  • First Mortgage Lender: TENNESSEE STATE BANK
  • First Mortgage Transaction Date: Nov 02, 2022
  • First Mortgage Loan Amount: $10,917,000
  • First Mortgage Terms: 60
  • First Mortgage Loan Type: Building or Construction Loan
  • First Mortgage Loan Due Date: Oct 31, 2027

About Gatlinburg



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Nearby Rentals

Currently no nearby rentals

Frequently Asked Questions

What neighborhood is 304 Hemlock Street located in?
The 304 Hemlock Street is a commercial located in the neighborhood of Sevier in Gatlinburg, Gatlinburg.
What is the average sales price for listings in 304 Hemlock Street?
The average sales price for units in 304 Hemlock Street is $0 currently.

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