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Property profile & analytics
OFF-MARKET
Estimated value
$905,000
Retail space
189 Carolina Dr, Franklin, NC 28734
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-0884041
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Construction
FRAME
Total area
7,300 SF
Lot
0.55 ac (23,958 SF)
Zoning code
FC2
APN
6584352095
UPID
US53-0884041
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$945k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$951k
Blend (final)
Blend
$905k
Owner & transaction history
Phil Reed Properties Ltd · 3 yrs held
Phil Reed Properties Ltd
since 2023
Last sale
$849,000
3 recorded transactions
Zoning & alternative use
FC2 · Franklin, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$890,000
+7.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$935,000
ML approach
$945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$825,000
Current use
WAREHOUSE, STORAGE
$890,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$905k
Range $815k – $996k · ±10% · vs last sale $849k (Jan 13 2023)
Last sale anchor
$849k
Jan 13 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$124 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,727
Tax year 2023
Assessed value
$812,460
Assessed 2023
Previous assessed
$696,530
+16.6% YoY
Effective rate
0.34%
On assessed value
Assessed land
$75,490
Assessed improvement
$736,970
Land market value
$75,490
Improvement market value
$736,970
Total market value
$812,460
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Construction
FRAME
Heating
HEAT PUMP
Cooling
YES
Stories
1
Total area
7,300 SF
Lot
0.55 ac (23,958 SF)
Zoning code
FC2
APN
6584352095
UPID
US53-0884041
Jurisdiction
MACON
Zoning & alternative use
FC2 · Franklin, NC
Zoning FC2 · permitted uses
FC2 · Franklin, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Franklin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$825,000
WAREHOUSE, STORAGE
Est. value
$890,000
RETAIL STORES Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Phil Reed Properties Ltd
Entity
Free & Clear · 3 yrs held
Mailing address
3106 HIGHLANDS RD, FRANKLIN, NC 28734-3513
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2023
$849,000
Phil Reed Properties Ltd
Orville D Coward JR
Warranty Deed
—
Sep 1, 2022
—
Phil Reed Properties Ltd Lllp
—
Deed
related
$3,500,000 · Nantahala Bank & Trust Company
Jul 29, 2022
$1,665,000
Phil Reed Properties Ltd Lllp
Silver Streak LLC
Warranty Deed
$1,165,000 · First Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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