Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Franklin NC Multifamily Investment Opportunity Title is generated by Realmo AI

    520 Baird Cove Rd lot 8-14 +, Franklin, NC 28734

    View on Map
    Claim this Listing
    For Sale
    $3,100,000

    MULTI_FAMILY - Franklin, NC

    Lot size:
    8.20 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    108
    Last Refresh:
    May 15 at 10:06 pm

    Property Features for 520 Baird Cove Rd lot 8-14 +

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Carport, Open, Garage
    Interior features
    BuiltInFeatures, CeilingFans, EatInKitchen, HighSpeedInternet, OpenFloorplan, StoneCounters, Storage
    Exterior features
    PrivateEntrance
    Standard status
    Active
    APN
    6584495942
    Lot size
    8.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BRUCE PALMER SUBD/CRAWFORD FARM
    Tax Annual Amount
    7976

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Electric, Central Air, Heat Pump, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    2012
    Flooring type
    Hardwood, Tile, Carpet, Linoleum
    Roof type
    Shingle, Asphalt
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Craig Berry
    Craig Berry

    Listing agent Craig Berry

    Listing office Highlands Sotheby's International Realty - DT 114 N 4th Street, NC

    Listing date Jan 27, 2026

    MLS# 1002469

    Copyright © 2026 Highlands Cashiers Board 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

    • Significant expansion potential with plans for 17 additional residential units.
    • Existing income‑generating portfolio with 14 rental opportunities.
    • Prime 8.2‑acre location minutes from downtown Franklin, NC, with city sewer and water connections.
    • Townhomes have subdivision potential, allowing for individual sale.
    • Well‑maintained existing structures: townhomes (built 2010), apartment building (built 2012), and single‑family home (built 1954).
    • Located in Franklin, NC, known for mountain charm and convenient access.

    Overview

    Located in Franklin, NC, this multi-family property offers an investment opportunity on approximately 8.2 acres. The property is located minutes from downtown and has city sewer and water connections already in place for existing buildings, with additional connections available for expansion. The property features 14 rental opportunities, including five 3-bedroom, 2-bathroom townhomes built in 2010. There is also an 8-unit apartment building, built in 2012, with each unit consisting of 2 bedrooms and 2 bathrooms. Additionally, the property includes a 3-bedroom, 2-bathroom single-family home built in 1954. There is undeveloped land available, and plans are in place to construct an additional 17 residential units, including 15 townhomes and 2 apartment units. The existing townhomes possess the opportunity for subdivision, allowing for each unit to be transformed and sold individually. Franklin offers convenient access to major highways and local attractions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon 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
    -83.4033613
    Latitude
    35.1812088

    Nearby Similar for Sale

    • $465,000
      2,680 SF

      Historical Commercial Building in Franklin, NC

      Charming 1910 building repurposed for commercial use with residential space.
      473 Palmer Street, Franklin, NC 28734
      View Details
    • $499,900
      2,500 SF

      Prime Commercial Real Estate Opportunity

      Commercial property on West Main Street, Franklin, NC. 0.94 acres.
      535 W Main Street, Franklin, NC 28734
      View Details
    • $695,000
      2,500 SF

      Commercial Property on US 441

      Versatile commercial property with highway frontage and flexible zoning.
      5120 Georgia Rd, Franklin, NC 28734
      View Details
    • $775,000
      10,000 SF

      Downtown Franklin Commercial Opportunity

      Versatile 10,000 sqft commercial building in downtown Franklin, NC.
      211 W Palmer St, Franklin, NC 28734
      View Details
    • $899,000
      6,900 SF

      Franklin Commercial Property with Warehouse

      Retail and warehouse space near Downtown Franklin, North Carolina.
      144 Carolina Drive, Franklin, NC 28734
      View Details
    • $449,000
      6,000 SF

      Franklin Commercial/Industrial Building For Sale

      Commercial/Industrial building on 1.19 acres with high traffic flow.
      967 Roller Mill Road, 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, 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
    • $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
    • $1,900,000
      24,575 SF

      Historic Downtown Franklin Commercial Building

      Iconic mixed-use building in Franklin's core business district.
      9 Stewart St, Franklin, NC 28734
      View Details
    • $430,000
      2,219 SF

      Mountain Home with Expansion Potential

      Contemporary 3BR home on 1.8 acres near downtown Franklin.
      335 Underburg Ln, Franklin, NC 28734
      View Details
    • $440,000
      2,112 SF

      Franklin, NC Commercial Property

      Operating bagel shop with living quarters and storage.
      43 Phillips St, Franklin, NC 28734
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 8.2-acre multifamily property with 14 units and expansion potential.
    Where is this multifamily property located?
    The property is located at 520 Baird Cove Rd lot 8-14 + Franklin, NC.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: Significant expansion potential with plans for 17 additional residential units.; Existing income‑generating portfolio with 14 rental opportunities.; Prime 8.2‑acre location minutes from downtown Franklin, NC, with city sewer and water connections.
    (828) 342-1707
    We can help!
    Listing Contact
    Craig Berry
    Craig Berry
    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

    Thank You for Inquiry
    520 Baird Cove Rd lot: 8-14 +, Franklin, NC 28734
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!