Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land in Western North Carolina Title is generated by Realmo AI

    Millbrook Cove, Franklin, NC 28734

    View on Map
    Claim this Listing
    For Sale
    $150,000

    LAND - Franklin, NC

    Lot size:
    4.99 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    92
    Last Refresh:
    May 29 at 10:06 pm

    Property Features for Millbrook Cove

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Heavily Wooded
    Standard status
    Active
    APN
    6574070164
    Lot size
    4.99 Acres

    Taxes and HOA fees

    Tax Annual Amount
    333

    We can help!

    Listing Contact
    Dawson Johnson
    Dawson Johnson

    Listing agent Dawson Johnson License #337729

    Listing office Realty One Group Vibe 52 Iotla Street, Franklin, NC

    Listing date Feb 26, 2026

    MLS# 26045419 Listing URL

    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

    • 4. 99‑acre tract offering true end‑of‑road privacy.
    • Gently laying land suitable for one or two homesites.
    • Underground power is already in place.
    • Located just 15 minutes from downtown Franklin.
    • Opportunity to open up mountain views with selective clearing.
    • Prior soil evaluation and build potential indicated by expired three‑bedroom septic permit.

    Overview

    This 4.99-acre tract, consisting of two combined lots, provides end-of-road privacy in Western North Carolina. The land lays gently, offering flexibility for a single homesite or the potential for two. Mature hardwoods cover the property, and selective clearing could open up mountain views. Underground power is already in place. A previously issued three-bedroom septic permit, which has since expired, indicates prior soil evaluation and build potential. Located in the Cartoogechaye community, the property is 15 minutes from downtown Franklin, offering seclusion with convenience. The property has usable acreage and existing infrastructure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.4478403
    Latitude
    35.171087

    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
    • $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
    • $695,000
      2,505 SF

      Move-in Ready Commercial Office Building

      Commercial office building near US Highway 441 South in Franklin, NC.
      Franklin, NC 28734
      View Details
    • $565,000

      Prime Land in Franklin, NC

      High-visibility commercial land with strong traffic in Franklin, NC.
      838 E Main Street, Franklin, NC 28734
      View Details
    • $795,000

      Main Street Market Opportunity

      Income-producing roadside stand on Main Street in Franklin, NC.
      836 E Main Street, Franklin, NC 28734
      View Details
    • $649,000
      1,137 SF

      Prime Commercial Land with Visibility

      3.63-acre commercial tract with high visibility and easy access.
      1661 Highlands Rd, 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
    • $245,000
      784 SF

      Commercial Property in Franklin, NC

      Remodeled commercial property with no restrictions, close to town.
      2093 Highlands Road, Franklin, NC 28734
      View Details
    • $425,000
      1,144 SF

      Franklin, NC Commercial Land

      Commercial land with potential near 64W Bypass.
      29 Bert Waldroop Rd, Franklin, NC 28734
      View Details

    FAQs

    What type of property is this?
    Land - 4.99-acre tract with privacy and potential mountain views.
    Where is this land located?
    The property is located at Millbrook Cove Franklin, NC.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: 4. 99‑acre tract offering true end‑of‑road privacy.; Gently laying land suitable for one or two homesites.; Underground power is already in place.
    (828) 347-1072
    We can help!
    Listing Contact
    Dawson Johnson
    Dawson Johnson
    Real Estate License ID: 337729
    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
    Millbrook Cove, 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!