Listed by Gary Loebsack • Cobalt Premier Properties
$3,200,000
Est. payment /mo
3,600 SqFt
Active
405 Granbury St Franklin, TN 37064
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $888
Subdivision Downtown Frankin
MLS Listing ID 3544494
HOA Y/N No
Year Built 1932
Annual Tax Amount $11,251
Lot Dimensions 186 X 105
Property Description
PROPERTY OVERVIEW
An exceptional, rarely available multi-family portfolio is now on the market in the highly coveted Historic Downtown Franklin District. This premier offering features four distinct duplexes (eight units total), presenting an incredible opportunity for savvy investors, equity funds, developers, or multi-generational buyers to secure premium real estate in one of the nation's most robust rental and resale markets.
Current units rent quickly at around $1,200/month and have delivered a strong, stable history of high occupancy and consistent rental growth.
Situated just blocks from award-winning Main Street, residents enjoy seamless access to Franklin's world-class boutique shopping, chef-driven dining, historic architecture, and vibrant community festivals — with a quick commute via I-65 to the Cool Springs commercial corridor, Brentwood, and downtown Nashville.
THREE PATHS TO VALUE
The property is grandfathered for its current 8-unit multifamily use, but sits on land zoned R6 — giving a buyer a rare choice of strategies, each independently viable:
1. Hold and Optimize — Stabilized Income
• Continue as an 8-unit rental portfolio with a proven occupancy and rent-growth history
2. Redevelop — 8 Luxury Condominiums
• Architectural design work already underway (~$60,000 invested), with a 1.5-story concept in hand
• City of Franklin has engaged constructively on new designs
• Downtown Franklin condo demand is validated at the high end: Multiple high end condo projects are going to market at over $1000/sft
3. Subdivide — 4 Single-Family R6 Lots
• Underlying R6 zoning supports a clean subdivision into four individual single-family homesites
The property is a brief walk (or short golf-cart ride) from boutique cafes, public parks, and live music venues in one of the nation's most robust and supply-constrained historic rental and resale markets. This is a foundational real estate asset in a location that cannot be replicated.
An exceptional, rarely available multi-family portfolio is now on the market in the highly coveted Historic Downtown Franklin District. This premier offering features four distinct duplexes (eight units total), presenting an incredible opportunity for savvy investors, equity funds, developers, or multi-generational buyers to secure premium real estate in one of the nation's most robust rental and resale markets.
Current units rent quickly at around $1,200/month and have delivered a strong, stable history of high occupancy and consistent rental growth.
Situated just blocks from award-winning Main Street, residents enjoy seamless access to Franklin's world-class boutique shopping, chef-driven dining, historic architecture, and vibrant community festivals — with a quick commute via I-65 to the Cool Springs commercial corridor, Brentwood, and downtown Nashville.
THREE PATHS TO VALUE
The property is grandfathered for its current 8-unit multifamily use, but sits on land zoned R6 — giving a buyer a rare choice of strategies, each independently viable:
1. Hold and Optimize — Stabilized Income
• Continue as an 8-unit rental portfolio with a proven occupancy and rent-growth history
2. Redevelop — 8 Luxury Condominiums
• Architectural design work already underway (~$60,000 invested), with a 1.5-story concept in hand
• City of Franklin has engaged constructively on new designs
• Downtown Franklin condo demand is validated at the high end: Multiple high end condo projects are going to market at over $1000/sft
3. Subdivide — 4 Single-Family R6 Lots
• Underlying R6 zoning supports a clean subdivision into four individual single-family homesites
The property is a brief walk (or short golf-cart ride) from boutique cafes, public parks, and live music venues in one of the nation's most robust and supply-constrained historic rental and resale markets. This is a foundational real estate asset in a location that cannot be replicated.
Location
State TN
County Williamson County
Zoning Commercial
Interior
Heating Central
Cooling Central Air
Flooring Carpet, Laminate
Fireplace N
Exterior
Utilities Available Water Available
View Y/N false
Private Pool false
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Wood Siding
New Construction false
Schools
Elementary Schools Franklin Elementary
Middle Schools Freedom Middle School
High Schools Centennial High School
Others
Senior Community false
Special Listing Condition Standard
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