109 College Dr Franklin, VA 23851-2425
Property Lookup
Property profile & analytics
109 College Dr Franklin, VA 23851-2425
- Commercial real estate
- 9,100 SF
- 0.88 lot acres
Property ID
US87-2047347
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
- Sherwin-Williams Paint Store / Painting / Home Improvement Store
Property Details for 109 College Dr
- Year built
- 1998
- Construction
- LIGHT FRAME
- Lot size
- 0.88 lot acres
- Property size
- 9,100 SF
- Zone code
- B3
- Property type
- Commercial real estate
- APN
- 121 110 1E
- APU
- 1211101E
Description
This exceptional investment opportunity presents a fee-simple interest in a 9,151 square foot Sherwin-Williams storefront located at 109 S College Dr, Franklin, VA 23851. The property, built in 1998 and situated on a 0.88-acre lot, boasts 34 parking spaces and benefits from a prime location in a dense retail corridor near a signalized intersection. The property is zoned B-3: General Business District. The Sherwin-Williams lease, commencing August 1, 2008, and expiring August 1, 2025, has approximately 0.7 years remaining with four 5-year options, each including an 8% rent increase. The current net operating income (NOI) is $68,325, representing a 9.00% cap rate and a price per square foot of $82.94. The asking price is $759,000. This corporate-guaranteed, net-leased investment offers limited landlord responsibilities and significant upside potential due to the scheduled rent increases and the strong, established tenant. The property enjoys excellent visibility and accessibility, with convenient access to US Highway 58. The surrounding area features numerous national retailers, including Walmart, O'Reilly Auto Parts, and Lowe's, creating a synergistic retail environment. A substantial residential population within a five-mile radius provides a strong consumer base. The property's location within a high-traffic area ensures consistent customer flow. This is a rare opportunity to acquire a well-positioned, net-leased investment property with a strong tenant and significant remaining lease term.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $700,000
- ML approach
- $700,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $938,000
Market price range: $387k - $1.16M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Franklin
- County
- Franklin City
- State
- Virginia
- Longitude
- -76.9371
- Latitude
- 36.6715
- 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
$6,255
$211,600
$468,300
$679,900
-
$211,600
$468,300
$679,900
