Mixed-Use Property with
For Sale
$1,625,000
211B Johnny Mercer Boulevard, Savannah, GA 31410
Commercial Sale, Savannah, GA
Property Size10,232 SF
Lot Size0.43 Acres
Price / SF$158.82
Days on Market447
Property Features for 211B Johnny Mercer Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BC
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Security features
Security System
Appliances
Electric Water Heater, Microwave, Refrigerator
Directions
From Midtown Savannah, head east on Victory Drive. Continue straight as it becomes Islands Expressway. Cross over the Wilmington River Bridge and stay on Johnny Mercer Blvd. After passing Wilmington Island shopping center on your right, continue for about 1 mile. Property will be on the right.
Standard status
Active
APN
1007702019
Size
10,232 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LT B PT OF LTS 248 249 250 WALTHOUR SUB SMB 32S 35 .41AC
Tax Annual Amount
30183
Legal Description
LT B PT OF LTS 248 249 250 WALTHOUR SUB SMB 32S 35 .41AC
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Building materials
Metal Siding, Stucco
Listing Agency:
eXp Realty LLC
(888) 959-9461
Listed By:
Harold Meyers · License #336390
(912) 313-2424
Added: Jun 18, 2025
Changed: Aug 24
Last Checked: Sep 7 at 7:06PM
MLS# SA332974
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.
Located at 211B Johnny Mercer Boulevard in Savannah, this 10,232-square-foot mixed-use commercial property occupies 0.43 acres and was built in 1969. The improvements include dedicated retail or office space alongside an on-site mini-storage facility, allowing the property to accommodate both business operations and storage use.
The property is served by public water and public sewer. Construction includes metal siding and stucco, with central electric heating and central air conditioning. The site also includes a bathroom and appliances consisting of an electric water heater, microwave, and refrigerator. Zoning is BC, and the property is situated on Wilmington Island.
The property is served by public water and public sewer. Construction includes metal siding and stucco, with central electric heating and central air conditioning. The site also includes a bathroom and appliances consisting of an electric water heater, microwave, and refrigerator. Zoning is BC, and the property is situated on Wilmington Island.
Key Highlights
- 10,232‑square‑foot mixed‑use commercial property on 0.43 acres
- Retail or office space paired with an on‑site mini‑storage facility
- BC zoning
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
$142,253
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
8.75%
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%
$2,845,060
$2.8M
Cap Rate 7%
$2,032,186
$2.0M
Cap Rate 9%
$1,580,589
$1.6M
Market Conditions
NOI Build-Up for 10,232 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
$227.2K $22.20/SF
− Vacancy
−$37.5K −$3.66/SF
EGI
$189.7K $18.54/SF
− OpEx
−$47.4K −$4.63/SF
NOI
$142.3K $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%
$2,845,060
Cap Rate 7%
$2,032,186
Cap Rate 9%
$1,580,589
Alternative Uses
Best Use
Warehouse
$9.56M
$8.37M – $11.16M
NOI $669,373 @ 7.0% cap · market cap 41.19%
Second Best
Office B
$2.03M
$1.78M – $2.37M
NOI $142,253 @ 7.0% cap · market cap 8.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 31410, GA
23,782
Population
10,263
Households
2.3
Avg Household Size
45
Median Age
51%
College-Educated
98%
High-School Grad
22.6 sq mi
ZIP Area
1,052
Density / Sq Mi
$97,225
Median Household Income
$54,693
Median Earnings
$1,702
Median Rent
$367,700
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - BC-zoned commercial asset combines retail or office space with an on-site mini-storage component.
Where is this mixed-use property located?
The property is located at 211B Johnny Mercer Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 10,232‑square‑foot mixed‑use commercial property on 0.43 acres; Retail or office space paired with an on‑site mini‑storage facility; BC zoning
