105 Mechanic St Franklin, VA 23851-1521
Property Lookup
Property profile & analytics
105 Mechanic St Franklin, VA 23851-1521
- Commercial real estate
- 3,326 SF
- 0.69 lot acres
Property ID
US87-2195795
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Hardee's / Restaurant / Take-out & Catering
Property Details for 105 Mechanic St
- Year built
- 1974
- Lot size
- 0.69 lot acres
- Property size
- 3,326 SF
- Zone code
- B2
- Property type
- Commercial real estate
- APN
- 107 120 1,2
- APU
- 10712012
Description
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.
Value Estimations
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Franklin
- County
- Franklin City
- State
- Virginia
- Longitude
- -76.9214
- Latitude
- 36.6783
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2019
$16,190
$660,000
$682,500
$1,342,500
-
$660,000
$682,500
$1,342,500
