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    Move-In Ready Class B Office Building Title is generated by Realmo AI

    144 Holly Springs Dr, Franklin, NC 28734

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    Claim this Listing
    New
    For Sale
    $1,300,000

    COMMERCIAL - Franklin, NC

    Property size:
    5,000 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $260/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 144 Holly Springs Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3
    Parking features
    Off Street, Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    6595900651
    Size
    5,000 SF
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2296

    Utilities

    Utilities
    Water Available
    Heating system
    Forced Air
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1996
    Floors in Building
    1
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Daniel O'Connell

    Listing agent Daniel O'Connell

    Listing office eXp Realty, LLC (MLS Only) 16 Biltmore Avenue Suite #300, Asheville, NC

    Listing date Jun 3, 2026

    MLS# 26047436

    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.

    HighLights

    • Move‑in ready 3,114 SF Class B office building
    • Brick construction with shingle roof
    • Heating: forced air; cooling: electric central air
    • Off‑street parking with parking lot
    • Accessible approach with ramp
    • Year built 1996; water available

    Overview

    Move-in ready 3,114 SF Class B office building located at 144 Holly Springs Park Drive. The property is positioned to support straightforward occupancy for a professional practice, with a configuration designed as an office facility and the ability to move in rather than wait for new buildout.

    Set in the heart of Franklin, North Carolina’s Holly Springs Park professional corridor, the building benefits from drive-up accessibility that supports convenient customer and client arrival. Franklin serves as the commercial hub of Macon County, and the surrounding area reflects a growing professional services community, along with a tight office market dynamic described by the offering.

    Given the existing office product and limited local comparable availability within a short radius, this asset is well suited for medical, legal, and other professional practices seeking a long-term, stable location in Western North Carolina. With steady demand tied to both full-time residents and the region’s expanding retirement and tourism population, the building offers a practical opportunity to establish or expand operations in a sought-after small-town market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.3815429
    Latitude
    35.1823171

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    FAQs

    What type of property is this?
    Office building - A move-in ready Class B office building with drive-up access in Franklin’s established professional corridor.
    Where is this office building located?
    The property is located at 144 Holly Springs Dr Franklin, NC.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Move‑in ready 3,114 SF Class B office building; Brick construction with shingle roof; Heating: forced air; cooling: electric central air
    (828) 787-3004
    We can help!
    Listing Contact
    Daniel O'Connell
    Request Owner's contact information
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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.

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