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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Office buildings
189 Palmer St, Franklin, NC 28734-3040
Entity Owned
~
Est. High Equity
Property ID
US53-1364522
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
5,320 SF
Lot
0.49 ac (21,344 SF)
Zoning code
FC1
APN
6594193565
UPID
US53-1364522
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
Current use
Occupant on record · Public records
-
StickFigure Sites Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Dnet Internet Services Telecommunications Service Data Center
-
Sitedart Hosting Data Center IT Consulting Firm
-
Heritage Christian Academy High School
-
Business Planning Group Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$650k
Blend (final)
Blend
$585k
Owner & transaction history
Gem City Ventures LLC
Gem City Ventures LLC
since 2026
Last sale
$550,000
3 recorded transactions
Zoning & alternative use
FC1 · Franklin, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $550k (Feb 9 2026)
Last sale anchor
$550k
Feb 9 2026
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
$110 / 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
$3,001
Tax year 2023
Assessed value
$893,100
Assessed 2023
Previous assessed
$749,490
+19.2% YoY
Effective rate
0.34%
On assessed value
Assessed land
$382,810
Assessed improvement
$510,290
Land market value
$382,810
Improvement market value
$510,290
Total market value
$893,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Heating
HEAT PUMP
Cooling
YES
Stories
1
Rooms
3
Bathrooms
1
Total area
5,320 SF
Lot
0.49 ac (21,344 SF)
Zoning code
FC1
APN
6594193565
UPID
US53-1364522
Jurisdiction
MACON
Zoning & alternative use
FC1 · Franklin, NC
Zoning FC1 · permitted uses
FC1 · 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.
Building & site characteristics
From public records
Year built
2004
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Rooms
3
Bathrooms
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Gem City Ventures LLC
Entity
Mailing address
235 E PALMER ST, FRANKLIN, NC 28734-3049
Ownership since
2026
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
Feb 9, 2026
$550,000
Gem City Ventures LLC
Blue Ridge Office Solutions LLC
Special Warranty Deed
$600,000 · Nantahala Bank & Trust Company
Mar 8, 2021
—
Ds Admiral 189 East Palmer Holdco L
Philip C Drake
Quit Claim Deed
related
—
Mar 5, 2021
—
Philip C Drake
Sharon J Drake
Intrafamily Transfer
related
—
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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