Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    105 Mechanic St Franklin, VA 23851

    Sponsored
    For Sale
    $1,741,837

    High-return Hardee's franchise investment.

    Property size:
    3,336 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple, 3,336 square foot Hardee's restaurant located at 105 N Mechanic St, Franklin, VA 23851. The property sits on a 0.67-acre lot and boasts a newly extended 10-year absolute triple-net (NNN) lease, commencing April 30, 2012, and expiring August 31, 2033, with a remaining term of 8.8 years. The current annual base rent is $80,000, supplemented by percentage rent averaging $25,164 annually over the past three years (5.5% of annual sales). The tenant, a franchisee of Boddie-Noell Enterprises, Inc. – the largest and oldest Hardee's franchisee – is fully guaranteed. This franchisee reports sales exceeding the national Hardee's average, demonstrating strong operational performance. The property underwent a complete remodel in 2023, with all costs covered by the tenant, showcasing their commitment to the location. The asking price is $1,741,837, representing a 6.15% cap rate and a price per square foot of $522.13. Built in 1985, this property offers a secure, high-performing investment with significant upside potential. The tenant also has four, five-year renewal options. This is a 100% occupied, single-tenant property with a strong track record and a secure future.

    Property Features for 105 Mechanic St

    General Information

    Property type
    Restaurants
    Square Feet
    3,336 SF
    Lot Size
    29,185 SF

    Building Details

    Year Built/Renovated
    1985/2023

    HighLights

    • $1,741,837 asking price for a Hardee's franchise restaurant in Franklin, VA.
    • 8.8 years remaining on a triple‑net (NNN) lease with 4, 5‑year renewal options.
    • 6.15% cap rate with a $107,123 net operating income (NOI).
    • 3,336 square feet on a 0.67‑acre lot, recently remodeled in 2023 by the tenant.
    • Strong tenant, Boddie‑Noell Enterprises, Inc., the largest and oldest Hardee's franchisee, guaranteeing the lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hardee's Fast Food Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Franklin City
    State
    Virginia
    Longitude
    -76.9212263
    Latitude
    36.6781708

    Nearby Comparable

    • $1,741,837
      3,336 SF

      Hardee's NNN Investment Opportunity

      NNN leased Hardee's with franchisee guarantee and percentage rent.
      105 N Mechanic St, Franklin, VA 23851
      View Details
    • Contact for pricing
      0.05 Acres

      Downtown Franklin Retail Space

      Prime Franklin location, high foot traffic
      103 Main St, Franklin, VA 23851
      View Details
    • $799,900
      9,821 SF

      Historical Building in Franklin, VA

      Distinctive historical building suitable for commercial, institutional, or community uses.
      101 N High St, Franklin, VA 23851
      View Details
    • $385,000
      5,600 SF

      Office Space with Wood Accents

      Office space featuring wood floors, trim, and conference room.
      33322 N Lynn Rd, Franklin, VA 23851
      View Details
    • $175,000
      1,554 SF

      Franklin Duplex: Investment Opportunity

      Duplex with tenant-occupied and vacant units, great investment potential.
      205 Cobb St, Franklin, VA 23851
      View Details
    • $295,000
      3.00 Acres

      Prime Commercial Land in Franklin

      3-acre commercial land parcel with high visibility and utilities.
      4 N College Dr, Franklin, VA 23851
      View Details
    • $1,400,000
      98,280 SF

      Franklin VA Redevelopment Opportunity

      Almost 100,000 SF on 11 acres near Hwy 58.
      1333 Carrsville Hwy, Franklin, VA 23851
      View Details
    • $770,000
      16.75 Acres

      Prime Commercial Land Opportunity

      16.75 acres of B-2 zoned land in Franklin, VA.
      1101 Armory Dr, Franklin, VA 23851
      View Details
    • Contact for pricing
      1.17 Acres

      Franklin, VA Commercial Land Parcel

      1.17-Acre Commercial Lot, High Traffic
      1240 Armory Dr, Franklin, VA 23851
      View Details
    • Contact for pricing

      1.17 Acre Pad Site

      1.17 acre pad site available on Armory Drive.
      1240 Armory Dr, Franklin, VA 23851
      View Details
    • $169,000
      0.99 Acres

      Commercial Land in Franklin, VA

      Prime commercial land in the heart of Franklin, zoned B3.
      99ac Bailey & Stewart Dr, Franklin, VA 23851
      View Details
    • $1,180,000
      59.66 Acres

      Development Opportunity in Isle of Wight

      Two parcels totaling 59.66 acres available for development.
      59 Ac Carrsville Hwy, Franklin, VA 23851
      View Details

    Nearby Similar for Sale

    • $799,900
      9,821 SF

      Historical Building in Franklin, VA

      Distinctive historical building suitable for commercial, institutional, or community uses.
      101 N High St, Franklin, VA 23851
      View Details
    • $1,400,000
      98,280 SF

      Franklin VA Redevelopment Opportunity

      Almost 100,000 SF on 11 acres near Hwy 58.
      1333 Carrsville Hwy, Franklin, VA 23851
      View Details
    • $1,741,837
      3,336 SF

      Hardee's NNN Investment Opportunity

      NNN leased Hardee's with franchisee guarantee and percentage rent.
      105 N Mechanic St, Franklin, VA 23851
      View Details
    • $650,000
      1,824 SF

      Huddle House Restaurant For Sale

      Huddle House restaurant with 10-year lease in place.
      1547 Armory Dr, Franklin, VA 23851
      View Details
    • $175,000
      1,554 SF

      Franklin Duplex: Investment Opportunity

      Duplex with tenant-occupied and vacant units, great investment potential.
      205 Cobb St, Franklin, VA 23851
      View Details
    • $385,000
      5,600 SF

      Office Space with Wood Accents

      Office space featuring wood floors, trim, and conference room.
      33322 N Lynn Rd, Franklin, VA 23851
      View Details
    • $890,000
      12,543 SF

      Franklin Warehouse For Sale

      12,543 SF warehouse/industrial property in Franklin, VA.
      141 Commerce Park Rd, Franklin, VA 23851
      View Details
    • Contact for pricing
      1.20 Acres

      Franklin Business Opportunity

      Spacious Unit, Ample Parking, Great Location
      175 Commerce Park Rd, Franklin, VA 23851
      View Details
    • Contact for pricing
      0.05 Acres

      Downtown Franklin Retail Space

      Prime Franklin location, high foot traffic
      103 Main St, Franklin, VA 23851
      View Details

    FAQs

    What type of property is this?
    Restaurant - High-return Hardee's franchise investment.
    Where is this restaurant located?
    The property is located at 105 Mechanic St Franklin, VA.
    What is the asking price?
    The asking price for this property is $1,741,837.
    What are key features of this property?
    This property features: $1,741,837 asking price for a Hardee's franchise restaurant in Franklin, VA.; 8.8 years remaining on a triple-net (NNN) lease with 4, 5-year renewal options.; 6.15% cap rate with a $107,123 net operating income (NOI).
    Request Owner's contact information
    105 Mechanic St Franklin, VA 23851
    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.
    105 Mechanic St
    Franklin, VA 23851
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    105 Mechanic St Franklin, VA 23851
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.