Montgomery Street Storefront
For Sale
$1,799,000
1820 Montgomery Street, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size6,389 SF
Lot Size0.23 Acres
Price / SF$281.58
Days on Market17
Property Features for 1820 Montgomery Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BC
Appliances
Electric Water Heater, Some Commercial Grade
Directions
Victory dr to north MONTGOMERY St Property is between 34th/35th.
Standard status
Active
APN
2006634009
Size
6,389 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
WEST 42 FEET OF LOT 10 FLANNERY WARD
Tax Annual Amount
4979
Legal Description
WEST 42 FEET OF LOT 10 FLANNERY WARD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Building materials
Stucco
Listing Agency:
TFI Realty LLC
(912) 349-8379
Listed By:
Harold D. Jackson · License #265944
(912) 604-6263
Added: Aug 17
Changed: Aug 20
Last Checked: Sep 2 at 8:06AM
MLS# SA362872
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 6,389-square-foot storefront property occupies a 0.23-acre parcel at 1820 Montgomery Street in Savannah. The building dates to 1985 and features stucco construction, central electric heating, central air conditioning, an electric water heater, public water, and public sewer. The property is zoned BC.
Montgomery Street forms a mixed-use connection between Savannah’s Landmark Historic District and Forsyth Park to the north and the Starland District and Midtown to the south. The site is positioned between 34th and 35th Streets, with vehicular activity along Montgomery Street and a Walk Score of 91. Georgia Southern University’s Armstrong Campus, SCAD facilities, and downtown Savannah are also identified in the surrounding context.
Montgomery Street forms a mixed-use connection between Savannah’s Landmark Historic District and Forsyth Park to the north and the Starland District and Midtown to the south. The site is positioned between 34th and 35th Streets, with vehicular activity along Montgomery Street and a Walk Score of 91. Georgia Southern University’s Armstrong Campus, SCAD facilities, and downtown Savannah are also identified in the surrounding context.
Key Highlights
- 6,389‑square‑foot storefront property on a 0.23‑acre parcel
- BC zoning with public water and public sewer
- Central electric heating and central air conditioning
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
$72,526
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
4.03%
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%
$1,450,520
$1.5M
Cap Rate 7%
$1,036,086
$1.0M
Cap Rate 9%
$805,844
$805.8K
Market Conditions
NOI Build-Up for 6,389 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
$111.2K $17.40/SF
− Vacancy
−$7.6K −$1.18/SF
EGI
$103.6K $16.22/SF
− OpEx
−$31.1K −$4.87/SF
NOI
$72.5K $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%
$1,450,520
Cap Rate 7%
$1,036,086
Cap Rate 9%
$805,844
Alternative Uses
Best Use
Retail
$1.04M
$906.6K – $1.21M
NOI $72,526 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.97M
$5.22M – $6.97M
NOI $417,965 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,691
Businesses Nearby
10k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Beauty & Spa 52%
Shops & Services 37%
Electronics 11%
Sola Salon Studios
Beauty & Spa
5,104 visits/mo
0.4 miles
Woof Gang Bakery
Shops & Services
3,097 visits/mo
0.3 miles
Cricket Wireless Authorized Retailer
Electronics
1,041 visits/mo
0.1 miles
Stars & Stripes Llc
Shops & Services
555 visits/mo
0.2 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with central HVAC, public utilities, and a walkable position along Savannah’s Montgomery Street corridor.
Where is this storefront property located?
The property is located at 1820 Montgomery Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 6,389‑square‑foot storefront property on a 0.23‑acre parcel; BC zoning with public water and public sewer; Central electric heating and central air conditioning
