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    605 Main Street Franklin, LA 70538

    View on Map
    Picture of Retail space at 605 Main Street, Franklin, LA
    For Sale
    $266,500

    COMMERCIAL - Franklin, LA

    Property size:
    6,414 SF
    Lot size:
    0.18 Acres
    Added:
    Mar 24, 2025
    Days on Market:
    378
    Last Refresh:
    Apr 5 at 1:06 pm

    Property Features for 605 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking
    2
    Parking features
    On Street, Off Street
    Exterior features
    Partially Fenced
    Fencing
    Partial
    Standard status
    Active
    APN
    2264681434.00
    Size
    6,414 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    LOT BD SELF - MAIN STREET - OPERA HOUSE COMPANY - BAUER & SELF ACQ 452 343092 LOT BD HINES - LAWLESS - BANK - POST OFFICE ACQ 452 343092

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Flooring type
    Wood, Tile
    Roof type
    Metal

    We can help!

    Listing Contact
    Molli Rodriguez

    Listing agent Molli Rodriguez License #0995687819

    Listing office EXP Realty, LLC 1318 Camellia Blvd. Suite 222, Lafayette, LA

    Listing date Mar 24, 2025

    MLS# 2020021984

    Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Franklin Commercial Building

    This historic commercial building, owned by the same family since the early 1900s, is located on Main Street in Franklin. The property features a total of 6,400 square feet of space across two floors. The first floor offers 4,400 square feet of space with original wood flooring, antique tile, a spacious office, a storage room, and a restroom. Large display windows provide natural light. A separate driveway at the rear of the property allows for easy access and parking. The second floor features a 2,000-square-foot open floor plan with tall ceilings and original windows overlooking Main Street. The building includes central heating and cooling, and a fire sprinkler system. The property has a metal roof. Currently rented and utilized as a retail space, this building offers potential for future occupants. The property is situated on a lot of 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Franklin
    County
    St. Mary
    State
    Louisiana
    Longitude
    -91.500718
    Latitude
    29.79171

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    FAQs

    What type of property is this?
    Retail space - Versatile 6,400 SF commercial space on Main Street.
    Where is this retail space located?
    The property is located at 605 Main Street Franklin, LA.
    What is the asking price?
    The asking price for this property is $266,500.
    What are key features of this property?
    This property features: Prime location on historic Main Street in Franklin.; Large, versatile space totaling 6,400 sq ft across two floors.; Original architectural details including wood flooring, antique tile, and staircase.
    (337) 578-0034
    We can help!
    Listing Contact
    Molli Rodriguez
    Real Estate License ID: 0995687819
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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