Brick Storefront
For Sale
Under Contract
$699,000
104 Tibet Avenue, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size2,758 SF
Lot Size0.29 Acres
Price / SF$253.44
Days on Market43
Property Features for 104 Tibet Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BC
Parking
16
Appliances
Electric Water Heater
Directions
Head south on Abercorn Street. Take right onto onto Tibet Avenue, building will be the second one on the right.
Standard status
Active Under Contract
APN
2064602037
Size
2,758 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT OF LOT A OF LOT 13 SHANGRI LA SUB
Tax Annual Amount
6064
Legal Description
PT OF LOT A OF LOT 13 SHANGRI LA SUB
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1971
Floors in Building
1
Flooring type
Tile, Concrete
Building materials
Brick
Listing Agency:
Century 21 Solomon Properties · Century 21 Real Estate
(912) 786-5466
Listed By:
Joel Solomon · License #349031
(912) 604-0896
Added: Jul 21
Changed: Sep 1
Last Checked: Sep 1 at 11:06AM
MLS# SA360912
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 2,758-square-foot storefront property occupies 0.29 acres and was built in 1971. The building features brick construction, concrete and tile flooring, central electric heating, central air conditioning, an electric water heater, public water, and public sewer. The property is zoned BC, identified as Community Business, and includes parking and roadway access.
The setting places the property near national restaurant franchises, major automobile dealerships, Savannah Mall, established residential neighborhoods, and expanding apartment communities. Its Savannah location is presented as suitable for owner-users, investors, and service-oriented businesses including HVAC, plumbing, electrical, roofing, and landscaping companies.
The setting places the property near national restaurant franchises, major automobile dealerships, Savannah Mall, established residential neighborhoods, and expanding apartment communities. Its Savannah location is presented as suitable for owner-users, investors, and service-oriented businesses including HVAC, plumbing, electrical, roofing, and landscaping companies.
Key Highlights
- 2,758‑square‑foot storefront property on 0.29 acres
- BC zoning, identified as Community Business
- Brick construction with concrete and tile flooring
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
$31,308
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
4.48%
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%
$626,160
$626.2K
Cap Rate 7%
$447,257
$447.3K
Cap Rate 9%
$347,867
$347.9K
Market Conditions
NOI Build-Up for 2,758 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
$48.0K $17.40/SF
− Vacancy
−$3.3K −$1.18/SF
EGI
$44.7K $16.22/SF
− OpEx
−$13.4K −$4.87/SF
NOI
$31.3K $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%
$626,160
Cap Rate 7%
$447,257
Cap Rate 9%
$347,867
Alternative Uses
Best Use
Retail
$447.3K
$391.4K – $521.8K
NOI $31,308 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.58M
$2.26M – $3.01M
NOI $180,427 @ 7.0% cap · market cap 25.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
115k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 20%
Groceries 16%
Parker's Kitchen
Shops & Services
28,970 visits/mo
0.4 miles
Walmart Neighborhood Market
Groceries
17,957 visits/mo
0.5 miles
Dollar Tree
Shops & Services
15,645 visits/mo
0.2 miles
Carrabba's Italian Grill
Dining
11,142 visits/mo
0.2 miles
Krystal
Dining
7,023 visits/mo
0.2 miles
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Community Business zoning supports a range of commercial applications in a centrally positioned Savannah corridor.
Where is this storefront property located?
The property is located at 104 Tibet Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,758‑square‑foot storefront property on 0.29 acres; BC zoning, identified as Community Business; Brick construction with concrete and tile flooring
