Open-Plan Storefront
For Sale
$1,080,000
Pending
2310 Drayton Street, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size3,028 SF
Lot Size0.17 Acres
Days on Market27
Property Features for 2310 Drayton Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BC
Zoning description
Commercial
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Parking
8
Appliances
Electric Water Heater
Directions
Property is at the Northeast corner of Drayton Street and East 40th St. Head north from Victory Drive and property will be on the right at E 40th St intersection. Or from Abercorn St go West on E 40th St and property on right at intersection with Drayton St.
Standard status
Pending
APN
2006538012
Size
3,028 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT A RECOMBINATION OF LOTS 11 THRU 14 BLOCK 4 WADLEY WARD SMB 13S 33
Tax Annual Amount
2941
Legal Description
LOT A RECOMBINATION OF LOTS 11 THRU 14 BLOCK 4 WADLEY WARD SMB 13S 33
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Building materials
Block
Listing Agency:
Parker Scott Properties
(912) 897-6320
Listed By:
John Blair Southerland · License #403553
(912) 844-8333
Added: Jul 29
Changed: Aug 24
Last Checked: Aug 24 at 5:06PM
MLS# SA362155
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 3,028-square-foot storefront property occupies a 0.17-acre lot and is organized around two primarily open interior areas. The 1960 block building includes one bathroom, forced-air electric heating, central air, and an electric water heater. The seller requires the existing building to remain, with no total demolition permitted.
The property is located at 2310 Drayton Street in Savannah’s Starland District and includes off-site parking. Public water and public sewer serve the building. BC zoning is in place, and the open layout provides a foundation for reconfiguration within the existing structure.
The property is located at 2310 Drayton Street in Savannah’s Starland District and includes off-site parking. Public water and public sewer serve the building. BC zoning is in place, and the open layout provides a foundation for reconfiguration within the existing structure.
Key Highlights
- 3,028‑square‑foot storefront building on a 0.17‑acre lot
- Two primarily open interior areas for flexible reconfiguration
- BC zoning with off‑site parking
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
$34,373
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
3.18%
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%
$687,460
$687.5K
Cap Rate 7%
$491,043
$491.0K
Cap Rate 9%
$381,922
$381.9K
Market Conditions
NOI Build-Up for 3,028 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
$52.7K $17.40/SF
− Vacancy
−$3.6K −$1.18/SF
EGI
$49.1K $16.22/SF
− OpEx
−$14.7K −$4.87/SF
NOI
$34.4K $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%
$687,460
Cap Rate 7%
$491,043
Cap Rate 9%
$381,922
Alternative Uses
Best Use
Retail
$491.0K
$429.7K – $572.9K
NOI $34,373 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.83M
$2.48M – $3.30M
NOI $198,090 @ 7.0% cap · market cap 18.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
49k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 26%
Beauty & Spa 10%
Electronics 2%
McDonald's
Dining
22,625 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
7,295 visits/mo
0.2 miles
Chevron
Shops & Services
7,083 visits/mo
0.2 miles
Sola Salon Studios
Beauty & Spa
5,104 visits/mo
0.1 miles
Woof Gang Bakery
Shops & Services
3,097 visits/mo
0.4 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 - Two primarily open interior areas with off-site parking and BC zoning support varied commercial configurations.
Where is this storefront property located?
The property is located at 2310 Drayton Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 3,028‑square‑foot storefront building on a 0.17‑acre lot; Two primarily open interior areas for flexible reconfiguration; BC zoning with off‑site parking
