Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8.2acs General Thomas Highway Franklin, VA 23851

    View on Map
    For Sale
    $499,900

    Land And Farms - Franklin, VA

    Lot size:
    8.29 Acres
    Added:
    Dec 13, 2021
    Days on Market:
    1570
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 8.2acs General Thomas Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A-1
    Standard status
    Active
    Lot size
    8.29 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    3043

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Darren Stauffer

    Listing agent Darren Stauffer

    Listing office CENTURY 21 Gold Market Realty 1393 Armory Dr., Franklin, VA

    Listing date Dec 13, 2021

    MLS# 10415196 Listing URL

    Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Franklin, VA Land Parcel

    This 8.29 acre level parcel is located at the intersection of US 58 and General Thomas Highway. The north side of the property is bounded by the east bound off ramp with a signalized stop. Water is available on site. The property is zoned agriculture and is in the Enterprise Zone, which offers incentives for commercial or business development. It is close to dining, retail, hotels and gas stations. This is the last undeveloped parcel at this interchange. The property has easy access to US 58 and direct access to the City of Franklin. It is located in Southampton County, VA.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Franklin
    County
    Franklin City
    State
    Virginia
    Longitude
    -76.9426
    Latitude
    36.6905

    Nearby Similar for Sale

    • $899,500
      22,154 SF

      Franklin Warehouse with Storefront Potential

      22,154 SF warehouse with storefront in Franklin, VA.
      115 E 2nd Avenue, Franklin, VA 23851
      View Details
    • $800,000
      7,176 SF

      Franklin Church Building For Sale

      Well-maintained church with adaptable space and ample parking.
      1367 Carrsville Highway, Franklin, VA 23851
      View Details
    • $749,900
      9,821 SF

      Historical Building in Franklin, VA

      Distinctive historical building suitable for commercial, institutional, or community uses.
      101 N High Street, Franklin, VA 23851
      View Details
    • $295,000

      Prime Commercial Land in Franklin

      3-acre commercial land parcel with high visibility and utilities.
      Lot 4 N College Drive, Franklin, VA 23851
      View Details
    • $230,000
      1,554 SF

      Franklin Duplex: Investment Opportunity

      Duplex in Franklin with income potential, near amenities.
      205 Cobb Street, Franklin, VA 23851
      View Details
    • $1,180,000

      Development Opportunity in Isle of Wight

      Two parcels totaling 59.66 acres available for development.
      59 AC Carrsville Highway, Franklin, VA 23851
      View Details
    • $219,900
      1,500 SF

      Auto Shop on Cleared Land

      1,500 sq ft auto shop on 1.03 acres.
      125 Sachs Avenue, Franklin, VA 23851
      View Details
    • $1,400,000
      98,280 SF

      Franklin VA Redevelopment Opportunity

      Almost 100,000 SF on 11 acres near Hwy 58.
      1333 Carrsville Highway, Franklin, VA 23851
      View Details
    • $650,000
      1,824 SF

      Huddle House Restaurant For Sale

      Huddle House restaurant with 10-year lease in place.
      1547 Armory Dr, Franklin, VA
      View Details
    • Contact for pricing

      244-Unit Multifamily Community

      Multifamily community in Franklin County, Virginia, with 244 units.
      201 Forest Pine Road, Franklin, VA 23851
      View Details
    • $385,000
      5,600 SF

      Office Space with Wood Accents

      Office space featuring wood floors, trim, and conference room.
      33322 N Lynn Rd, Franklin, VA
      View Details
    • $1.00

      Spacious Unit Near Armory Drive

      Spacious commercial unit with multiple offices and ample parking.
      175 Commerce Park Road, Franklin, VA 23851
      View Details

    FAQs

    What type of property is this?
    Land - Highly visible 8.29 acre parcel at a busy intersection.
    Where is this land located?
    The property is located at 8.2acs General Thomas Highway Franklin, VA.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Highly visible level parcel at the intersection of US 58 and General Thomas Highway.; Last undeveloped parcel at this interchange.; Located in an Enterprise Zone offering incentives for commercial/business development.
    (757) 562-2295
    We can help!
    Listing Contact
    Darren Stauffer
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!