1352 Siler Rd Franklin, NC 28734

Property Details for 1352 Siler Rd

Year built

2024

Lot size

0.98 lot acres

Property size

2,500 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a brand-new, 2,500 square foot Starbucks located in Franklin, North Carolina, at 1352 Siler Rd, zip code 28734. The property sits on a 0.98-acre lot and is shadow-anchored by the closest Walmart to the popular tourist destination of Highlands, NC, a mere 30-minute drive. This is the only freestanding Starbucks in Franklin and the closest to Highlands, serving a substantial population and the over 6 million annual tourists. The building, completed in 2024, features a drive-thru and indoor dining area. It's part of a thriving shopping center with excellent visibility on Highway 23 (25,000 vehicles per day), alongside ALDI, Chick-fil-A, Aspen Dental, and other national retailers like Lowe's, Food Lion, and Harbor Freight. The property is offered at $2,226,000, boasting a 6.00% cap rate and a strong net operating income (NOI) of $133,550. The 10-year net lease with Starbucks (S&P: BBB+), a Fortune 500 company, commenced January 2, 2025, and expires January 30, 2035. The lease includes 10% rent increases every five years, providing significant long-term growth potential. Landlord responsibilities are limited to roof and structure; the tenant is responsible for all other expenses and maintenance. This presents a rare opportunity to acquire a high-performing asset in a rapidly growing area with low unemployment (3.25%) and projected high job growth exceeding 30% in the coming years. The property's strategic location, coupled with the strength of the tenant and lease terms, makes this an ideal investment for discerning buyers seeking stable income and significant appreciation potential.

Location Insight

City

Franklin

County

Macon

State

North Carolina

Longitude

-83.371

Latitude

35.1638