For Sale
$998,500
1106 E 48th Street, Savannah, GA 31404
Commercial Sale, Savannah, GA
Property Size3,866 SF
Lot Size0.23 Acres
Price / SF$258.28
Days on Market361
Property Features for 1106 E 48th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RSF6
Appliances
Electric Water Heater
Directions
From Victory Drive turn South on Waters Avenue. Property is on the corner of Waters Ave and E 48th Street.
Standard status
Active
APN
2008503012
Size
3,866 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LTS 82 83 84 85 + PT 86 PIERPONT WD
Tax Annual Amount
2079
Legal Description
LTS 82 83 84 85 + PT 86 PIERPONT WD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
2
Building materials
Stucco, Wood Siding
Listing Agency:
Coast & Country RE Experts
(912) 754-0786
Listed By:
George P. Jackson JR · License #378648
(912) 228-9511
Added: Sep 18, 2025
Changed: Sep 12
Last Checked: Sep 13 at 7:06PM
MLS# SA340015
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.
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
$38,014
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
3.81%
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%
$760,280
$760.3K
Cap Rate 7%
$543,057
$543.1K
Cap Rate 9%
$422,378
$422.4K
Market Conditions
NOI Build-Up for 3,866 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
$73.8K $19.08/SF
− Vacancy
−$4.6K −$1.20/SF
EGI
$69.1K $17.88/SF
− OpEx
−$31.1K −$8.05/SF
NOI
$38.0K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$760,280
Cap Rate 7%
$543,057
Cap Rate 9%
$422,378
Alternative Uses
Best Use
Apartment 5plus
$543.1K
$475.2K – $633.6K
NOI $38,014 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.61M
$3.16M – $4.22M
NOI $252,912 @ 7.0% cap · market cap 25.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Recovery Place — 515 E 63rd St, Savannah, GA 31405
- Small Steps Childcare Academy — 1819 E 58th St, Savannah, GA 31404
- Shirley's Kiddie Kollege — 1117 E 57th St, Savannah, GA 31404
- Nanny Nation Agency — savannah, ga 31405
- ABC Childcare Center — 1106 E 48th St, Savannah, GA 31404
Frequently Asked Questions
Where is this day care center located?
The property is located at 1106 E 48th Street Savannah, GA.
What is the asking price?
The asking price for this property is $998,500.
