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    221 Progress Pkwy Franklin, VA 23851

    Sponsored
    For Lease
    $7 SF/Yr

    138,800 SF Manufacturing/Distribution Space

    Lot size:
    138,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional industrial property, located at 221 Progress Parkway in Franklin, Virginia, offers a substantial 138,800 square feet of manufacturing and distribution space. Situated on a generous 14.64-acre lot in Southampton County, this two-story building boasts a blend of established and newer construction. The original 58,000 square foot structure was built in 1998, complemented by an 80,000 square foot addition completed in 2008. A significant feature is the 25,000 square feet of currently available space, ideal for expansion or a new tenant. The property includes a 3,800 square foot, two-story office area, providing ample administrative space. The high ceilings, measuring 26 feet, offer excellent vertical clearance for various industrial uses. The facility is well-equipped with 13 loading docks and 2 dock-high doors, ensuring efficient loading and unloading operations. Robust power is provided by a 3,000 amp, 3-phase, 4-wire system. The property's location in Franklin, Virginia (zip code 23851), offers convenient access to transportation networks and a skilled workforce. This is a rare opportunity to acquire a well-maintained, versatile industrial property with significant expansion potential. The property's combination of size, features, and location makes it an attractive investment for businesses seeking a strategic foothold in the region.

    Property Features for 221 Progress Pkwy

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    138,800 SF
    Total Rate
    86750

    Building Details

    Year Built/Renovated
    1998/2008
    Stories
    2

    Unit(s) available at that property

    Space
    Warehouse Space
    Size
    25,000 SF
    Rate per SF
    $7

    HighLights

    • 26' Clear Height
    • 50' x 50' Bay Spacing
    • Two Dock‑High Doors and Three Grade‑Level Doors
    • ESFR & Wet Sprinkler Fire Suppression
    • 6" Reinforced Concrete Slab
    • 3,000 Amp, 3‑Phase, 4‑Wire Electrical Service
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Storage Facility Daycare Center Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Southampton
    State
    Virginia
    Longitude
    -76.925842
    Latitude
    36.6570126

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    FAQs

    What type of property is this?
    Distribution property - 138,800 SF Manufacturing/Distribution Space
    Where is this distribution property located?
    The property is located at 221 Progress Pkwy Franklin, VA.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 26' Clear Height; 50' x 50' Bay Spacing; Two Dock-High Doors and Three Grade-Level Doors
    Request Owner's contact information
    221 Progress Pkwy Franklin, VA 23851
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    Franklin, VA 23851
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    Realmo Value Estimation

    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.

    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.

    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
    221 Progress Pkwy Franklin, VA 23851
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