Case Study: When a STR Exit Makes Sense Off-Market

The Property

• Location: Sevierville, TN

• Asset Type: Luxury cabin

• Sale Price: $1,550,000

• Listing Status: Off-market

This short-term rental sale didn’t start because something was wrong. The property was performing. The market was still active. There was no urgency, no distress, and no looming regulation forcing a decision. The seller simply needed to move capital.

After several years operating a luxury cabin in Sevierville, Tennessee, the owner decided to reallocate capital into a new business venture. The STR had done its job, but the next opportunity required liquidity, and the seller wanted to exit in a way that preserved value, control, and privacy.

The question wasn’t whether to sell, but how to do so without being boxed in by misaligned sales approaches.

Why the MLS Didn’t Make Sense

From the beginning, a traditional MLS listing felt misaligned.

Comparable sales didn’t fully capture the property’s upside, especially when viewed strictly through a residential lens. Retail buyers would likely struggle to evaluate the asset as a business, and pricing would inevitably be constrained by public expectations rather than investor logic.

More importantly, the seller wasn’t interested in maximizing exposure, they were interested in maximizing fit.

They were open to creative financing and flexible on terms, but they had clear non-negotiables: the existing mortgage needed to be paid off, and the sale needed to free up enough capital to fund the next venture.

That combination, flexible structure with specific financial needs, pointed naturally toward an off-market approach.

Positioning for the Right Buyer

Instead of listing publicly, the property was introduced off-market and positioned specifically for sophisticated STR investors.

This wasn’t about casting a wide net. It was about narrowing the audience to buyers who already understood how luxury STRs in the Smokies perform, how cash flow and structure interact, and how to evaluate a deal beyond surface-level comps.

That shift changed the entire tone of the conversations.

There was no need to educate buyers on what an STR was, how it operated, or why the numbers mattered. Discussions moved quickly past basics and into structure, timing, and alignment.

The buyer who ultimately emerged was not a consumer home shopper. They were an experienced investor actively scaling an STR portfolio and looking for assets that fit an operational strategy, not a lifestyle purchase.

A Clean, Controlled Transaction

Because the deal stayed off-market, the seller avoided the friction that often comes with public listings.

There were no open houses, no public price discovery, and no pressure to conform to market optics. Negotiations were private and focused. Expectations were aligned early, and the process remained controlled from start to finish.

The property sold off-market for approximately $1.55 million, meeting the seller’s objectives without compromise. The mortgage was paid off, capital was freed for reinvestment, and the transition happened quietly and efficiently.

Just as importantly, the seller didn’t feel rushed or reactive. The exit felt intentional.

Why the Outcome Worked for Both Sides

This transaction worked because both parties were aligned before they ever sat down at the table.

The seller knew what they wanted next and didn’t need the market to validate the decision. The buyer knew exactly what kind of asset they were acquiring and how it fit into a larger portfolio.

There was no need to negotiate against the broader market, only around the terms and structure that mattered to both sides.

The Bigger Lesson

This sale wasn’t about timing the top of the market or squeezing every possible dollar out of a deal. It was about recognizing that the STR market has matured and that different phases favor different players.

Sometimes the smartest move is to exit thoughtfully and let the next operator take the asset further.

When buyer quality, privacy, and alignment matter, off-market transactions can create outcomes that feel less like a sale, and more like a strategic handoff.

If you’re ready to sell more strategically and save 10s of thousands of dollars on sales commissions reach out to us here.