Historic District Storefront
For Sale
$9,000,000
102-108 W Congress Street, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size19,020 SF
Lot Size0.07 Acres
Price / SF$473.19
Days on Market206
Property Features for 102-108 W Congress Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
D-CBD
Appliances
Convection Oven, Dishwasher, Electric Water Heater, Freezer
Directions
Head west on E Bay St toward Habersham St, Turn left onto Jefferson St, Turn left onto W Congress St, Building will be on the left.
Standard status
Active
APN
2000430007
Size
19,020 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
LOT A-1 (A/K/A LOT A) SUB OF THE EASTERN PT OF LOT M DECKER WD
Legal Description
LOT A-1 (A/K/A LOT A) SUB OF THE EASTERN PT OF LOT M DECKER WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1852
Floors in Building
3
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Elaine Seabolt · License #139140
(912) 224-7511
Added: Feb 11
Changed: Sep 3
Last Checked: Sep 5 at 2:06PM
MLS# SA345350
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 commercial storefront property encompasses three contiguous addresses at 102-108 W. Congress Street in Savannah’s Historic District. The building contains 19,020 square feet on a 0.065-acre parcel and dates to 1852. Its flexible interior configuration supports consideration for retail, food and beverage, entertainment, office, or mixed-use redevelopment, as stated in the property information. Existing equipment includes convection ovens, a dishwasher, an electric water heater, and a freezer.
The property is positioned along a downtown Savannah corridor near City Market, Ellis Square, and River Street. Public water and public sewer serve the site. Building systems include central electric heating and central air conditioning with electric cooling. The D-CBD zoning designation and connected-address configuration add useful context for evaluating the property’s commercial presence within the Historic District.
The property is positioned along a downtown Savannah corridor near City Market, Ellis Square, and River Street. Public water and public sewer serve the site. Building systems include central electric heating and central air conditioning with electric cooling. The D-CBD zoning designation and connected-address configuration add useful context for evaluating the property’s commercial presence within the Historic District.
Key Highlights
- 19,020‑square‑foot building on a 0.065‑acre parcel
- Three contiguous addresses: 102‑108 W. Congress Street
- Located in Savannah’s Historic District near City Market, Ellis Square, and River Street
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
$266,912
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
2.97%
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%
$5,338,240
$5.3M
Cap Rate 7%
$3,813,029
$3.8M
Cap Rate 9%
$2,965,689
$3.0M
Market Conditions
NOI Build-Up for 19,020 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
$376.6K $19.80/SF
− Vacancy
−$20.7K −$1.09/SF
EGI
$355.9K $18.71/SF
− OpEx
−$89.0K −$4.68/SF
NOI
$266.9K $14.03/SF
Area
Savannah, GA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$5,338,240
Cap Rate 7%
$3,813,029
Cap Rate 9%
$2,965,689
Alternative Uses
Best Use
Specialty Retail
$3.81M
$3.34M – $4.45M
NOI $266,912 @ 7.0% cap · market cap 2.97%
Second Best
Retail
$3.08M
$2.70M – $3.60M
NOI $215,910 @ 7.0% cap · market cap 2.40%
Theoretical Best
Warehouse
$17.78M
$15.55M – $20.74M
NOI $1,244,280 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,043
Businesses Nearby
330k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 36%
Shops & Services 27%
Dining 20%
Apparel 11%
Parker's Kitchen
Shops & Services
23,226 visits/mo
0.5 miles
Parker's Kitchen
Shops & Services
16,514 visits/mo
0.3 miles
Gap
Apparel
16,199 visits/mo
0.0 miles
Hotel Indigo Savannah Historic District
Hotels & Casinos
15,469 visits/mo
0.1 miles
McDonald's
Dining
14,310 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A to Zinnias — 217 E Broad St, Savannah, GA 31401
Frequently Asked Questions
What type of property is this?
Storefront property - Three connected addresses provide flexible commercial space in downtown Savannah’s D-CBD district.
Where is this storefront property located?
The property is located at 102-108 W Congress Street Savannah, GA.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 19,020‑square‑foot building on a 0.065‑acre parcel; Three contiguous addresses: 102‑108 W. Congress Street; Located in Savannah’s Historic District near City Market, Ellis Square, and River Street
