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    Prime Restaurant / Event Space Title is generated by Realmo AI

    2648 Georgia Road, Franklin, NC 28734

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    Claim this Listing
    For Lease
    $6,900/Mo $11 SF/Yr (calc)

    COMMERCIAL - Franklin, NC

    Type:Retail
    Property size:
    7,000 SF
    Lot size:
    1.64 Acres
    Added:
    Apr 13, 2026
    Days on Market:
    40
    Last Refresh:
    May 22 at 7:06 pm

    Property Features for 2648 Georgia Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    6583.546345
    Size
    7,000 SF
    Lot size
    1.64 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Heat Pump (Heating), Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1978
    Floors in Building
    1
    Flooring type
    Carpet, Concrete
    Building materials
    Block, Brick, Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Mary Ellen Small
    Mary Ellen Small

    Listing agent Mary Ellen Small License #177653

    Listing office eXp Realty 1372 Peachtree St NE, Atlanta, NC

    Listing date Apr 13, 2026

    MLS# 10734376

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This approximately 7,000 SF property, formerly a steakhouse restaurant, offers a spacious and versatile layout suitable for various hospitality concepts. It features three distinct dining rooms, a solarium, a central bar, a wait station, and a working fireplace. Currently used for catered events and private gatherings, the property demonstrates adaptability for different uses. Situated on a prominent corner lot within Franklin city limits along heavily traveled U.S. Route 441, the location provides strong visibility and consistent traffic flow connecting Georgia to Asheville, Cherokee, and Great Smoky Mountains attractions, making it accessible to both local and regional customers. Alcohol permits are available within city limits and have been previously issued for this location. The property's existing country-western character is suited for a national steakhouse, themed dining, entertainment venue, event facility, bar, or billiards hall, and can also accommodate showroom or retail uses. The kitchen, bar, and service areas are in place but require full renovation and equipment installation. Dedicated spaces include dishwashing, food prep and cold storage, grill line, office, and employee restroom. Natural gas service is available. Originally designed for approximately 300 seats, the property includes three entrances, 50+ on-site parking spaces, and additional overflow parking in an adjacent shopping center. It features over 350 feet of frontage on Hwy 441 and 335 feet on Terrell Rd. The property is located on 1.64 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.397788
    Latitude
    35.138608

    Nearby Similar for Lease

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      2,400 SF

      New Construction Drive-Thru Restaurant

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    FAQs

    What type of property is this?
    Restaurant - Versatile 7,000 SF restaurant/event space on high-traffic U.S. Route 441.
    Where is this restaurant located?
    The property is located at 2648 Georgia Road Franklin, NC.
    What is the lease rate?
    The lease rate is $6,900 /Mo.
    (404) 395-1177
    We can help!
    Listing Contact
    Mary Ellen Small
    Mary Ellen Small
    Real Estate License ID: 177653
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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.

    More about this property
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