Two-Story Storefront
For Sale
$1,200,000
17 41ST ST, Savannah, GA
Commercial Sale, Savannah, GA
Property Size3,623 SF
Lot Size0.09 Acres
Price / SF$331.22
Days on Market56
Property Features for 17 41ST ST
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
TN-2
Zoning description
Commercial, Mixed use, Multi Family
Appliances
Electric Water Heater
Directions
From Downtown Savannah, head south on Bull Street, turn right onto W. 41st Street. Property is near the corner of W. 41st Street and Whitaker Street, in the Starland District.
Standard status
Active
APN
20074 07001
Size
3,623 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
LOTS 39 40 41 & S PT LOT 42 & ST RIP SOLOMONS WD
Legal Description
LOTS 39 40 41 & S PT LOT 42 & ST RIP SOLOMONS WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Building materials
Frame
Architectural style
Victorian
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Beth L. Vantosh · License #248541
(912) 663-3392
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 24 at 7:06PM
MLS# SA359324
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.
Built in 1900, this two-story Victorian storefront contains approximately 3,623 square feet on a 0.09-acre parcel. The frame structure has a documented history of retail, office, and studio use, with central electric heating, central air, an electric water heater, public water, and public sewer. TN-2 zoning applies to the property.
The building occupies the intersection of W. 41st Street and Whitaker Street in Savannah’s Starland Dairy District. The surrounding area includes Starland Yard, restaurants, retail businesses, and creative enterprises, with a walkable setting that supports the district’s mixed commercial character.
The building occupies the intersection of W. 41st Street and Whitaker Street in Savannah’s Starland Dairy District. The surrounding area includes Starland Yard, restaurants, retail businesses, and creative enterprises, with a walkable setting that supports the district’s mixed commercial character.
Key Highlights
- Approximately 3,623 SF two‑story building on a 0.09‑acre parcel
- TN‑2 zoning
- 1900 construction with Victorian architectural style
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
$50,370
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
4.20%
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%
$1,007,400
$1.0M
Cap Rate 7%
$719,571
$719.6K
Cap Rate 9%
$559,667
$559.7K
Market Conditions
NOI Build-Up for 3,623 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
$80.4K $22.20/SF
− Vacancy
−$13.3K −$3.66/SF
EGI
$67.2K $18.54/SF
− OpEx
−$16.8K −$4.63/SF
NOI
$50.4K $13.90/SF
Area
Savannah, GA
Vacancy
16.50%
Lease Rate
$22.20 /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%
$1,007,400
Cap Rate 7%
$719,571
Cap Rate 9%
$559,667
Alternative Uses
Best Use
Office B
$719.6K
$629.6K – $839.5K
NOI $50,370 @ 7.0% cap · market cap 4.20%
Second Best
Retail
$587.5K
$514.1K – $685.5K
NOI $41,127 @ 7.0% cap · market cap 3.43%
Theoretical Best
Warehouse
$3.39M
$2.96M – $3.95M
NOI $237,015 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Victorian commercial building with TN-2 zoning, public utilities, and central heating and cooling.
Where is this storefront property located?
The property is located at 17 41ST ST Savannah, GA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 3,623 SF two‑story building on a 0.09‑acre parcel; TN‑2 zoning; 1900 construction with Victorian architectural style
