209 & 211 South Center Street
For Sale | Two-Tenant Retail Property
Property Overview
- Sales Price $445,000
- NOI $37,823
- Cap Rate 8.50%
- Occupancy 100%
Investment Summary
OLDHAM GOODWIN is pleased to present 209 & 211 S Center Street, a two-tenant retail property in in the heart of Franklin, Texas for your consideration. This 6,750 SF building is located just off Highway 79, in the vibrant business community that surrounds the Robertson County Courthouse. The property is 100% occupied by two successful long-term tenants, Doc’s Icehouse and The Gym. Both tenants are established businesses with strong local following, and recently signed new five (5) year lease extensions. The center benefits from a visible location, a captive audience, consistent traffic and minimal nearby competition. This is a low-maintenance investment opportunity backed by reliable tenants and steady cash flow.
Property Highlights
Located just off Highway 79, rare opportunity to purchase a commercial building in the Downtown district of Franklin, TX
The property benefits from a thriving downtown community with excellent day time traffic
Directly across the street from Best Western hotel and steps from the county courthouse and downtown municipal offices
Doc’s Icehouse has operated successfully since 1998
The Gym has operated successfully since 2013
Both tenants recently signed five (5) year lease renewals, evidence of commitment to the location
Bite size income producing investment opportunity, priced at only $445,000.00 or $65.92/SF, major discount to replacement cost.
Attractive 8.50% Yield at the asking price
Long term upside through future rent growth, current rental rates averaging $7.02/SF Gross
Investment Services
Clinton D. Oldham, SIOR
Managing Director | Investment Sales
Oldham Goodwin
Coti Freeman
Transaction Coordinator | Investment Sales
Oldham Goodwin
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