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

    981 East Main Street Franklin, NC 28734

    View on Map
    New
    For Sale
    $1,500,000

    Subdevelopment,Land,Commercial - Franklin City Limits, NC

    Lot size:
    3.30 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 4 at 12:06 am

    Property Features for 981 East Main Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Garage, Other-See Remarks
    Standard status
    Active
    APN
    6595523866
    Lot size
    3.30 Acres

    Building Details

    Architectural style
    Other
    Additional Structures
    Garage(s), See Remarks

    We can help!

    Listing Contact
    Kelly Penland

    Listing agent Kelly Penland

    Listing office Realty One Group Vibe 52 Iotla Street, Franklin, NC

    Listing date Apr 3, 2026

    MLS# 26046809 Listing URL

    Copyright © 2026 Carolina Smokies Association of Realtors. 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 Commercial Land on Main

    This commercial property is located in the heart of Franklin, NC. The parcel spans approximately 3.3 acres and features about 700 feet of frontage on East Main Street. Zoned Franklin Secondary Commercial, the property offers potential for a range of commercial uses. It is suitable for investors interested in developing retail space, a restaurant or brewery, apartments or multi-family units, an auto sales facility, a hotel, a professional office building, assisted living care, mixed-use buildings, bank buildings, or a church or worship space. This undeveloped land offers visibility and access. City water and sewer are available. Owner financing is a possibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.3684464
    Latitude
    35.1904034

    Nearby Similar for Sale

    • $499,000
      2,680 SF

      Historical Building with Commercial Zoning

      Charming 1910 building repurposed for commercial use.
      473 Palmer Street, Franklin, NC 28734
      View Details
    • $539,900
      2,500 SF

      Prime Commercial Real Estate Opportunity

      Commercial real estate on West Main Street in Franklin, NC.
      535 West Main Street, Franklin City Limits, NC 28734
      View Details
    • $695,000

      Commercial Property on US 441

      Commercial property with highway frontage and flexible zoning.
      5120 Georgia Rd, Franklin, NC 28734
      View Details
    • $429,900

      Professional Building Near Downtown Franklin

      Adaptable office building suitable for various small businesses.
      156 White Oak Street, Franklin City Limits, NC 28734
      View Details
    • $385,000

      Versatile Warehouse Near Downtown Franklin

      Single-story warehouse suitable for storage, manufacturing, automotive, or industrial use.
      244 Burnette Road, Franklin City Limits, NC 28734
      View Details
    • $899,000

      Franklin Commercial Property with Warehouse

      Retail and warehouse space near Downtown Franklin, North Carolina.
      144 Carolina Drive, Franklin, NC 28734
      View Details
    • $799,000

      Unique Retail/Office Opportunity, Franklin, NC

      Three-story building with retail and office space in Franklin.
      153 E. Palmer St, Franklin, NC 28734
      View Details
    • $449,000

      Franklin Commercial Building on 1.19 Acres

      Commercial/Industrial building on 1.19 acres with high traffic flow.
      967 Roller Mill Road, Franklin, NC 28734
      View Details
    • $419,000
      1,738 SF

      Remodeled Office Building, Franklin, NC

      Newly renovated office building in downtown Franklin with high visibility.
      1021 E Main St, Franklin, NC 28734
      View Details
    • $375,000

      Mountain Home with Workshop and RV

      Charming mountain home with workshop, RV site, and acreage.
      685 Peeks Creek Road, Franklin, NC 28734
      View Details
    • $775,000
      13,392 SF

      Downtown Franklin Retail/Processing Opportunity

      Retail or processing space in downtown Franklin, North Carolina.
      24 Commerce St, FRANKLIN, NC 28734
      View Details
    • $359,000

      Farmhouse with Mountain Views

      Charming farmhouse on 3.47 acres near downtown Franklin, NC.
      118 Dutton Drive, Franklin, NC 28734
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land with development potential in Franklin, NC.
    Where is this commercial land located?
    The property is located at 981 East Main Street Franklin, NC.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime undeveloped commercial land in the heart of Franklin, NC.; Approximately 3.3 +/- acres of gentle acreage with **700+ ft of frontage on East Main Street.**; Zoned Franklin Secondary Commercial with potential for a broad range of commercial uses.
    (828) 421-7705
    We can help!
    Listing Contact
    Kelly Penland
    Real Estate License ID: 276321
    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!