It is not everyday that an opportunity like this presents itself. Douglas Lake in beautiful East TN has very minimal options as far as restaurants accessible via the waterway and this one just happens to be for sale. The current owners are trying to decide what their next step in life will be and for now the decision is to continue operating until the property sells. This is such a unique property that it will be best just to list off everything that is included with the sale of the eight parcels: 1. Fire Lake Grill (formerly Cowboy's Restaurant) is a 4,802 square feet restaurant with capacity of 135 people inside and 75 more people outside including a newly renovated tiki bar area.2. The first standalone home is 1,224 square feet and rented for $1,200 per month totaling $14,400* per year 3. The second standalone home is 1,982 square feet and rented for $1,500 per month totaling $18,000* per year 4. There is a motel consisting of 6 units. They currently rent them by the month. They charge $975 per month but that includes utilities. They have in the past rented them for $475 per week and/or $80 per day.-$975/month = $70,200* per year$475/week = $148,200* per year$80/day = $175,200* per year 5. There are 48 boat slips that are leased out at $875 per year totaling $42,000 and then the third dock is actually used for restaurant parking (the red one) *Total gross income based on facts and figures provided by sellers If you don't have a desire to run a restaurant but need to invest some capital there have been offers in the past to rent the restaurant for up to $6,000 per month. If every item here was rented in a monthly capacity that would total $216,600 in gross rental income. The options for a total teardown and construction of new homes or condos have been discussed, as well as a full functional marina. However this would all hinge on approval from the Jefferson County Zoning and Planning Commissions. Aerial Photography used in some photos.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
