Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    225 Franklin Plz Dr Franklin, NC 28734-3207
    Property profile & analytics

    225 Franklin Plz Dr, Franklin, NC 28734-3207

    View on Map
    • Super regional malls
    • 88,118 SF
    • 11.86 lot acres
    Off-Market
    Last Sale Aug 12, 2022
    $4,000,000
    Property ID
    US53-1618416
    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.
    Value Estimations
    $4,065,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • bealls / Clothing & Fashion Store

    Property Details for 225 Franklin Plz Dr

    Year built
    1975
    Construction
    CONCRETE BLOCKS
    Lot size
    11.86 lot acres
    Zone code
    FC3
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    6584736840
    APU
    6584736840

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,145,000
      ML approach
      $4,115,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $5,845,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.3926
    Latitude
    35.1644

    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
    2023
    $23,153
    $5,743,500
    $1,199,980
    $6,943,480
    -
    $5,743,500
    $1,199,980
    $6,943,480

    Comparable in this City

    • Value Estimation
      $6,250,000
      51,566 SF

      41 Macon Plz Dr

      REGIONAL SHOPPING CENTER, MALL
      41 Macon Plz Dr, Franklin, NC 28734-0924
      View Details
    • Value Estimation
      $700,000
      40,274 SF

      285 Westgate Plz

      REGIONAL SHOPPING CENTER, MALL
      285 Westgate Plz, Franklin, NC 28734-1317
      View Details
    • Value Estimation
      $3,260,000
      25,690 SF

      107 Highlands Rd

      REGIONAL SHOPPING CENTER, MALL
      107 Highlands Rd, Franklin, NC 28734-2709
      View Details
    • Value Estimation
      $5,450,000
      18,800 SF

      109 Cmns Dr

      REGIONAL SHOPPING CENTER, MALL
      109 Cmns Dr, Franklin, NC 28734-4798
      View Details
    • Value Estimation
      $985,000
      15,585 SF

      71 Palmer St

      WHOLESALE OUTLET, DISCOUNT STORE
      71 Palmer St, Franklin, NC 28734-3046
      View Details
    • Value Estimation
      $3,420,000
      89,999 SF

      395 Westgate Plz

      WHOLESALE OUTLET, DISCOUNT STORE
      395 Westgate Plz, Franklin, NC 28734-9012
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,600 SF

      Franklin, NC Retail Strip Center

      Retail strip center in Franklin, NC with high traffic.
      543 Depot St, Franklin, NC 28734
      View Details
    • $2,000,000
      11.00 Acres

      Highway 441 Commercial Opportunity

      Turnkey commercial property with highway frontage and income potential.
      9410 Sylva Rd, Franklin, NC 28734
      View Details
    • $1,900,000
      24,575 SF

      Historic Downtown Franklin Commercial Building

      Iconic mixed-use building in Franklin's core business district.
      9 Stewart St, Franklin, NC 28734
      View Details
    • $899,000
      6,900 SF

      Franklin Commercial Property with Warehouse

      Retail and warehouse space near Downtown Franklin, North Carolina.
      144 Carolina Dr, Franklin, NC 28734
      View Details
    • $795,000
      0.75 Acres

      Main Street Market Opportunity

      Income-producing roadside stand on Main Street in Franklin, NC.
      836 E Main St, Franklin, NC 28734
      View Details
    • $465,000
      2,680 SF

      Historical Commercial Building in Franklin, NC

      Charming 1910 building repurposed for commercial use with residential space.
      473 Palmer Street Cir, Franklin, NC 28734
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      New Construction Drive-Thru Restaurant

      New construction drive-thru restaurant near US-64/23 and Wal-Mart.
      20 Berry Blvd, Franklin, NC 28734
      View Details
    • $6,900 /Mo
      7,000 SF

      Prime Restaurant / Event Space

      Versatile 7,000 SF restaurant/event space on high-traffic U.S. Route 441.
      2648 Georgia Rd, Franklin, NC 28734
      View Details
    • Contact for pricing

      Franklin NC Office Space Available

      Class B office building in Franklin's Holly Springs Park.
      144 Holly Springs Park Dr, Franklin, NC 28734
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    225 Franklin Plz Dr
    Franklin, NC 28734-3207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    225 Franklin Plz Dr, Franklin, NC, 28734
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!