Mixed-Use Property with
For Sale
$620,000
Pending
2203 Skidaway Road, Savannah, GA 31404
Residential Income, Savannah, GA
Property Size2,952 SF
Lot Size0.18 Acres
Days on Market302
Property Features for 2203 Skidaway Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B-N
Zoning description
Commercial
Bedrooms
2
Bathrooms
3
Full bathrooms
1
Half bathrooms
2
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Off Street
Appliances
No Hot Water, Oven, Range, Refrigerator
Directions
From Hwy 80/Victory Drive, turn North onto Skidway Road. Property is approximately 1800ft down on the left side of Skidaway Drive.
Standard status
Pending
APN
20079 15001
Size
2,952 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
S W PT LT 61 BOULEVARD PK
Legal Description
S W PT LT 61 BOULEVARD PK
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1946
Floors in Building
1
Flooring type
Tile, Concrete
Building materials
Block
Architectural style
Other
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Jessica L. Kelly · License #270287
(912) 441-9101
Added: Nov 10, 2025
Changed: Aug 25
Last Checked: Sep 8 at 12:06AM
MLS# SA343522
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 mixed-use offering includes a 2,160-square-foot commercial building designed for interior build-out, along with an adjacent 792-square-foot raised cottage containing two bedrooms and one bathroom. The cottage adds a residential component with covered carport parking, alley access, and storage below. The property dates to 1946 and has block construction, tile and concrete flooring, central heating, central air, public water, and public sewer.
Zoned B-N, the site supports potential retail, restaurant, office, daycare, or animal hospital uses as identified in the property information. The paved parking area provides 8+ customer spaces, and the location is 1800 feet from the intersection of Skidaway Road and Victory Drive. Nearby businesses include Starbucks, Chick-fil-A, Whole Foods, Target, Home Depot, Walgreens, CVS, and a movie theater. Both properties must be sold together.
Zoned B-N, the site supports potential retail, restaurant, office, daycare, or animal hospital uses as identified in the property information. The paved parking area provides 8+ customer spaces, and the location is 1800 feet from the intersection of Skidaway Road and Victory Drive. Nearby businesses include Starbucks, Chick-fil-A, Whole Foods, Target, Home Depot, Walgreens, CVS, and a movie theater. Both properties must be sold together.
Key Highlights
- 2,160 sq ft commercial building ready for interior build‑out
- Adjacent 792 sq ft raised cottage with 2BR/1BA
- B‑N zoning supports retail, restaurant, office, daycare, and animal hospital uses
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
$41,041
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
6.62%
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%
$820,820
$820.8K
Cap Rate 7%
$586,300
$586.3K
Cap Rate 9%
$456,011
$456.0K
Market Conditions
NOI Build-Up for 2,952 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
$65.5K $22.20/SF
− Vacancy
−$10.8K −$3.66/SF
EGI
$54.7K $18.54/SF
− OpEx
−$13.7K −$4.63/SF
NOI
$41.0K $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%
$820,820
Cap Rate 7%
$586,300
Cap Rate 9%
$456,011
Alternative Uses
Best Use
Office B
$586.3K
$513.0K – $684.0K
NOI $41,041 @ 7.0% cap · market cap 6.62%
Second Best
Retail
$478.7K
$418.9K – $558.5K
NOI $33,510 @ 7.0% cap · market cap 5.40%
Theoretical Best
Warehouse
$2.76M
$2.41M – $3.22M
NOI $193,118 @ 7.0% cap · market cap 31.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
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
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 - B-N-zoned property combines a commercial building with an adjacent residential cottage and off-street parking.
Where is this mixed-use property located?
The property is located at 2203 Skidaway Road Savannah, GA.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 2,160 sq ft commercial building ready for interior build‑out; Adjacent 792 sq ft raised cottage with 2BR/1BA; B‑N zoning supports retail, restaurant, office, daycare, and animal hospital uses
