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    Property profile & analytics

    71 Palmer St Franklin, NC 28734-3046

    • Outlet malls
    • 15,585 SF
    • 1.46 lot acres
    OFF-MARKET
    Last Sale
    Jan 14, 2022
    $975,000
    Value Estimations
    $985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0952395
    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.

    Current Use by Public Records

    • Enterprise Rent-A-Car / Car Rental Facility
    • Enterprise franklin / Loan Service / Car Dealership

    Property Details for 71 Palmer St

    Year built
    1963
    Lot size
    1.46 lot acres
    Property size
    15,585 SF
    Zone code
    FC2
    Property type
    Outlet malls
    APN
    6584999421
    APU
    6584999421

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000
      ML approach
      $1,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,222,000
      Market price range: $1.01M - $2.22M
      AI Estimate
      $946,000
      Market price range: $622k - $1.99M

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Macon
    State
    North Carolina
    Longitude
    -83.3858
    Latitude
    35.1801

    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
    $3,571
    $164,250
    $879,660
    $1,043,910
    -
    $164,250
    $879,660
    $1,043,910

    Comparable in this City

    • Value Estimation
      $3,420,000
      89,999 SF

      395 Westgate Plz

      WHOLESALE OUTLET, DISCOUNT STORE • 89,999 SF
      395 Westgate Plz, Franklin, NC 28734-9012
      View Details
    • Value Estimation
      $1,305,000
      9,012 SF

      6549 Georgia Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,012 SF
      6549 Georgia Rd, Franklin, NC 28734-8714
      View Details
    • Value Estimation
      $1,060,000
      9,100 SF

      668 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,100 SF
      668 Main St, Franklin, NC 28734-2656
      View Details
    • Value Estimation
      $1,025,000
      9,012 SF

      3974 Highlands Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,012 SF
      3974 Highlands Rd, Franklin, NC 28734-4001
      View Details
    • Value Estimation
      $790,000
      8,400 SF

      2909 Georgia Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 8,400 SF
      2909 Georgia Rd, Franklin, NC 28734-1648
      View Details
    • Value Estimation
      $6,250,000
      51,566 SF

      41 Macon Plz Dr

      REGIONAL SHOPPING CENTER, MALL • 51,566 SF
      41 Macon Plz Dr, Franklin, NC 28734-0924
      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
    • $449,000
      5,500 SF

      Franklin Commercial Building on 1.19 Acres

      Commercial/Industrial building on 1.19 acres with high traffic flow.
      967 Roller Mill Rd, Franklin, NC 28734
      View Details
    • $1,300,000
      Pending

      Versatile Commercial Building in Franklin, NC

      Former Post Office with flexible space in a prime location.
      261 E Palmer St, Franklin, NC 28734
      View Details
    • New
      $499,000
      2,680 SF

      Historical Building with Commercial Zoning

      Charming 1910 building repurposed for commercial use.
      473 Palmer Street Cir, Franklin, NC 28734
      View Details
    • $775,000
      13,392 SF

      Downtown Franklin Retail/Processing Opportunity

      Retail or processing space in downtown Franklin, North Carolina.
      24 Commerce St, Franklin, NC 28734
      View Details
    • $440,000
      Pending

      Operating Bagel Shop For Sale

      Turnkey restaurant with equipment, land, and potential living quarters.
      43 Phillips St, Franklin, NC 28734
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Major Retailers

      Retail space available near Walmart, Chick-Fil-A, and Aldi.
      Franklin, NC 28734
      View Details
    • Contact for pricing

      Franklin Apartment for Rent

      Two-bedroom apartment with modern amenities in a desirable location.
      10-42 Addington Villas Dr, Franklin, NC 28734
      View Details
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    71 Palmer St
    Franklin, NC 28734-3046
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    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
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