This charming, fully furnished duplex, zoned for Office Residential, offers a rare and versatile opportunity just steps from downtown Franklin's historic Main Street. Ideal for both commercial and residential use, it's located in a vibrant area filled with restaurants, live entertainment, boutique shops, antique stores, the restored Franklin Theater, cozy coffee shops, and delightful ice cream parlors. The property features fantastic outdoor living spaces, making it perfect for a live/work setup in an unbeatable location. Additionally, the zoning permits Short-Term Vacation Rentals (STVR), making this a fantastic investment opportunity for those looking to capitalize on the area's popularity. Whether you're looking to establish a business, create a dream home, or invest in a high-demand area, this property is a must-see to truly appreciate all it has to offer!
No showings allowed without accepted contract. Franklin Duplex. A unit: 3 bedrooms, 2.5 baths on one side. B unit: 2 bedrooms 1 bath on other side. A unit rented for $2500 per month, 12 month lease, B side is for $900 per month to a family friend, market rate is $2000.00. B side is month to month and could be occupied by an owner occupant. Large deck and large backyard. A unit has been updated. B unit requires 90 days notice to vacate. Annual 2023 Taxes $4,110.10. Insurance $1500+-, $1200 +- maintenance. Current cap rate is 4.5%, but with unit B rented at market rates, 6%+-. Units have been updated periodically.
RARE FIND in downtown Franklin! Brick exterior, excellent large lot, steps away from Main Street!
Franklin is located in Tennessee. Franklin, Tennessee has a population of 72,990. Franklin is less family-centric than the surrounding county with 41.87% of the households containing married families with children. The county average for households married with children is 44.17%.
The median household income in Franklin, Tennessee is $92,589. The median household income for the surrounding county is $103,543 compared to the national median of $57,652. The median age of people living in Franklin is 38.1 years.
The average high temperature in July is 89.8 degrees, with an average low temperature in January of 27.4 degrees. The average rainfall is approximately 52.4 inches per year, with 1.6 inches of snow per year.