Two-Unit Mixed-Use
For Sale
Under Contract
$1,195,000
1014 Abercorn Street, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size3,040 SF
Lot Size0.04 Acres
Price / SF$393.09
Days on Market266
Property Features for 1014 Abercorn Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
TC-1
Zoning description
Commercial, Mixed use, Multi Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Appliances
Some Gas Appliances, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Range Hood, Washer
Directions
Corner of Abercorn St and E Waldburg Ln
Standard status
Active Under Contract
APN
2004427012
Size
3,040 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
NW PT LOT 18 WHITE WD PRB 39P 90,91
Legal Description
NW PT LOT 18 WHITE WD PRB 39P 90,91
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Building materials
Brick
Roof type
Rubber, Rolled Hot Mop
Architectural style
Other
Listing Agency:
Savannah Real Estate Company
(912) 335-5357
Listed By:
Summer Freeman · License #351981
(912) 344-8445
Added: Dec 20, 2025
Changed: Sep 12
Last Checked: Sep 12 at 8:06AM
MLS# SA345494
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,040-square-foot mixed-use property contains two distinct units arranged as a five-bedroom, three-bathroom configuration. Each unit includes a full kitchen and separate living room, creating a flexible layout for continued short-term vacation rental operation or separate occupancy. The ground floor is approved for retail or commercial use, while the upper level provides residential space. Brick construction, central heating and cooling, public water, and public sewer support the existing improvements.
Located at 1014 Abercorn Street in Savannah’s Historic District, the property is positioned within a walkable setting near shopping, dining, cultural landmarks, and downtown amenities. TC-1 zoning provides a framework for combining commercial and residential uses in one building.
Located at 1014 Abercorn Street in Savannah’s Historic District, the property is positioned within a walkable setting near shopping, dining, cultural landmarks, and downtown amenities. TC-1 zoning provides a framework for combining commercial and residential uses in one building.
Key Highlights
- 3,040 SF mixed‑use property on a 0.039‑acre lot
- Two distinct units configured as 5BR/3BA
- Two full kitchens and two separate living rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,509
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,180
$690.2K
Cap Rate 7%
$492,986
$493.0K
Cap Rate 9%
$383,433
$383.4K
Market Conditions
NOI Build-Up for 3,040 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.9K $17.40/SF
− Vacancy
−$3.6K −$1.18/SF
EGI
$49.3K $16.22/SF
− OpEx
−$14.8K −$4.87/SF
NOI
$34.5K $11.35/SF
Area
Savannah, GA
Vacancy
6.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,180
Cap Rate 7%
$492,986
Cap Rate 9%
$383,433
Alternative Uses
Best Use
Retail
$493.0K
$431.4K – $575.2K
NOI $34,509 @ 7.0% cap · market cap 2.89%
Second Best
Mixed Use
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 2.88%
Theoretical Best
Warehouse
$2.84M
$2.49M – $3.31M
NOI $198,875 @ 7.0% cap · market cap 16.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,849
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - TC-1 zoning accommodates a ground-level commercial component with residential space above.
Where is this mixed-use property located?
The property is located at 1014 Abercorn Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 3,040 SF mixed‑use property on a 0.039‑acre lot; Two distinct units configured as 5BR/3BA; Two full kitchens and two separate living rooms
