1370 Siler RdFranklin, NC 28734

Property Details for 1370 Siler Rd

Construction

FRAME

Lot size

0.84 AC

Property size (Sq ft)

3,568 SF

Zone code

FC2

Property type

Medical offices

Property subtype

Medical centers

APN

6594339632

APU

6594339632

Description

Exceptional investment opportunity: a 3,500 square foot Aspen Dental located at 1370 Siler Rd, Franklin, NC 28734. This property boasts a strong 6.15% cap rate and a substantial net operating income (NOI) of $127,750. The property sits on 0.81 acres and is part of a thriving shopping center with excellent visibility on Highway 23 (25,000 vehicles per day), alongside national retailers such as ALDI, Chick-fil-A, and Starbucks. Other nearby national retailers include Lowe's, Food Lion, and Harbor Freight Tools. This Aspen Dental is the only national dental office in Franklin and the closest to Highlands, NC, a popular tourist destination attracting over 6 million visitors annually. The location benefits from Franklin's position as a retail hub for Highlands residents and tourists. The property features a 10-year net lease (NNN) with Aspen Dental, a leading dental support organization with over 1,000 locations nationwide, commencing September 30, 2022, and expiring October 30, 2032. The lease includes 10% rent increases every five years, providing significant long-term growth potential. The tenant is responsible for all expenses except roof and structure maintenance. Built in 2022, this property offers a secure, high-performing investment with a strong tenant and excellent location in a growing market with low unemployment (3.25%) and projected job growth exceeding 30%. The property's performance ranks in the top 83% of all Aspen Dental locations nationwide. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential. The asking price is $2,078,000.

• CAP approach

  CAP return

  Valuation

  6%

  $912,811

  6.5%

  $842,595

  7%

  $782,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $293,753

  Geo Method

  $293,753

• Alternative Use

  Use

  Valuation

  Residential

  $1,044,818

  Hospitality

  $957,047

  Educational

  $796,252

  Medical

  $823,636

  Retail

  $1,238,614

Location Insight

City

Franklin

County

Macon

State

North Carolina

Latitude

35.1645

Longitude

-83.3713

Property Tax & Assessments

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