Sign Up Successful!
You now have access to more from Realmo!
    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

    Scenic Rdg Cir Franklin, NC 28734

    Sponsored
    For Sale
    $499,900

    Subdevelopment,Residential - Franklin, NC

    Type:Single Family Residence
    Lot size:
    5.85 Acres
    Days on Market:
    506
    Last Refresh:
    Jan 22 at 12:06 am

    Property Features for Scenic Rdg Cir

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    APN
    6594690761
    Exterior features
    None
    Lot size
    5.85 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Katelyn VanderWoude

    REMAX ELITE REALTY (828) 349-4600 [email protected]

    Listing agent Katelyn VanderWoude (828) 349-4600

    Listing date Sep 4, 2024

    MLS# 26037766 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.

    Learn more

    Property Insight Report

    Overview

    Franklin NC Land Investment Opportunity

    This 5.85 +/- acre property, located in the Scenic Ridge development, presents an investment opportunity. Zoned for multi-family use, the land is suitable for townhomes. The property is gently sloping and partially cleared, with some wooded acreage remaining for privacy. Situated at the development's main entrance, the location provides convenient access to town. Scenic Ridge offers mountain views and is located minutes from Downtown Franklin. Paved, city-maintained roads provide access to each lot, and sidewalks and streetlights enhance walkability to local shops, restaurants, breweries, and other amenities. Utilities are in place, including underground power, city water and sewer, and high-speed fiber internet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.4215
    Latitude
    35.1737

    Nearby Similar for Sale

    • $1,900,000
      0.87 Acres

      Historic Downtown Commercial Building For Sale

      Iconic two-story building in Franklin's core business district.
      9 Stewart St, Franklin, NC 28734
      View Details
    • $565,000
      Pending

      Franklin, NC Single-Level Home

      Modern mountain home on 1.25 acres with ridge-line views.
      202 Wild Pear Ln, Franklin, NC 28734
      View Details
    • New
      $1,495,000
      7.56 Acres

      Mountain Estate with Trout Stream

      Picturesque mountain estate with pastureland, stream, pool, and custom home.
      5643 Upper Burningtown Rd, Franklin, NC 28734
      View Details
    • $1,800,000
      9,600 SF

      Commercial Building in High Traffic Area

      Commercial building with showroom, service department, and ample parking.
      461 Highlands Rd, Franklin, NC 28734
      View Details
    • New
      $550,000
      2,680 SF

      Historical Building with Commercial Space

      Charming 1910 building repurposed for commercial use.
      473 Palmer Street Cir, Franklin, NC 28734
      View Details
    • New
      $1,100,000
      Pending

      Thriving RV Campground with Renovated Farmhouse

      RV campground with 20 rentable sites and renovated farmhouse.
      2155 Old Murphy Rd, Franklin, NC 28734
      View Details
    • $379,000
      Pending

      Commercial/Residential Property with Mountain Views

      Versatile property on 0.9 acres with high visibility.
      8356 Sylva Rd, Franklin, NC 28734
      View Details
    • New
      $1,100,000
      Pending

      Renovated Farmhouse with RV Campground

      Farmhouse and RV campground near downtown Franklin, North Carolina.
      2155 Old Murphy Rd, Franklin, NC 28734
      View Details
    • New
      $449,900
      Pending

      Renovated Farmhouse Near Downtown Franklin

      Renovated farmhouse on 2 acres, close to downtown Franklin.
      2145 Old Murphy Rd, Franklin, NC 28734
      View Details
    • New
      $389,900
      1.51 Acres

      Mountain Home with Workshop and RV Hookup

      Charming mountain home on 1.51 acres with workshop and RV hookup.
      685 Peeks Creek Rd, Franklin, NC 28734
      View Details
    • New
      $550,000
      2,205 SF

      Spacious Home on Usable Acres

      Three-bedroom home on 4.88 unrestricted acres with trout stream.
      90 Wilds Cove Rd, Franklin, NC 28734
      View Details
    • $1,300,000
      Pending

      Versatile Commercial Building in Franklin

      Adaptable commercial asset in Franklin's core business district.
      261 E Palmer St, Franklin, NC 28734
      View Details

    FAQs

    What type of property is this?
    Land - 5.85 acre multi-family zoned land near downtown Franklin, NC.
    Where is this land located?
    The property is located at Scenic Rdg Cir Franklin, NC.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: - Stunning long-range mountain views.; - Zoned multi-family, ideal for townhome development.; - Conveniently located minutes from Downtown Franklin.
    (828) 371-7857
    Request Owner's contact information
    Scenic Rdg Cir Franklin, NC 28734
    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.
    Scenic Rdg Cir
    Franklin, NC 28734
    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
    Scenic Rdg Cir Franklin, NC 28734
    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

    We can help!
    Listing Contact
    Katelyn VanderWoude
    Real Estate License ID: 337273
    (828) 371-7857
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.