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    Commercial Processing & Office Building Title is generated by Realmo AI

    24 Commerce Street, Franklin, NC 28734

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    For Sale
    $764,900

    COMMERCIAL - Franklin, NC

    Property size:
    10,000 SF
    Lot size:
    0.66 Acres
    Price / SF:
    $76/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 24 Commerce Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    4
    Rooms
    Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4
    Parking features
    Parking Lot, Driveway
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    6584993215
    Size
    10,000 SF
    Lot size
    0.66 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3204

    Utilities

    Utilities
    Water Available
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1947
    Floors in Building
    2
    Flooring type
    Combination, Concrete, Hardwood
    Building materials
    Block, Brick

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    Listing Contact
    Evan Klatt

    Listing agent Evan Klatt License #344565

    Listing office RE/MAX Elite Realty 1296 E Main St., Franklin, NC

    Listing date Jun 4, 2026

    MLS# 26047455

    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

    • 10,000+ SF commercial building built in 1947 with block and brick construction materials
    • Currently fitted for meat processing/packing with multiple commercial‑grade freezer rooms, refrigeration, and processing spaces
    • Features 3 loading areas, including a declining loading dock
    • Includes office space in the upper part plus 4 restrooms, reception area, and multiple large processing areas
    • Large parking lot and driveway on a corner lot with accessible approach and ramp
    • Utilities include water available

    Overview

    This commercial building is currently fitted for meat processing and packing, with dedicated kitchen and processing spaces, refrigeration, and multiple large commercial-grade freezer rooms. The layout also includes a reception area, an office space in the upper portion of the building, and four restrooms. For operations, there are three loading areas, including a loading dock described as declining. Parking is supported by a large on-site lot, and the property sits on a corner lot.

    Located at 24 Commerce Street in Franklin, the building is positioned in the heart of downtown Franklin as described in the public remarks. The property is noted for easy access and “excellent exposure” in the middle of town.

    The existing improvements make this building a practical fit for a user seeking a turnkey food or meat processing environment, with functional support spaces such as offices, reception, and restrooms already in place. It may also work for other commercial uses, including food service, retail, or office applications, given the combination of processing areas and upper office space. The seller indicates owner-financing may be considered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • New Mountain Events — 250 Depot St, Franklin, NC 28744, United States
    • Angel Catering — 120 Riverview St, Franklin, NC 28734

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.3878024
    Latitude
    35.179704

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    FAQs

    What type of property is this?
    Flex space - Former meat processing facility with multiple freezer rooms, refrigeration, office space, and three loading areas.
    Where is this flex space located?
    The property is located at 24 Commerce Street Franklin, NC.
    What is the asking price?
    The asking price for this property is $764,900.
    What are key features of this property?
    This property features: 10,000+ SF commercial building built in 1947 with block and brick construction materials; Currently fitted for meat processing/packing with multiple commercial‑grade freezer rooms, refrigeration, and processing spaces; Features 3 loading areas, including a declining loading dock
    (828) 421-2901
    We can help!
    Listing Contact
    Evan Klatt
    Real Estate License ID: 344565
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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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