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    Savannah Commercial Building For Sale Title is generated by Realmo AI

    2506 Barnard Street, Savannah, GA 31401

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    For Sale
    $1,088,000

    SINGLE_FAMILY - Savannah, GA

    Type:Retail
    Property size:
    2,729 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $398/SF
    Added:
    Mar 15, 2023
    Days on Market:
    1174
    Last Refresh:
    May 31 at 4:06 pm

    Property Features for 2506 Barnard Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    RIP
    Security features
    Security System
    Appliances
    Electric Water Heater
    Standard status
    Active
    APN
    2007406012
    Size
    2,729 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Description
    K & L SUB 61 SOLOMON WD
    Tax Annual Amount
    2789

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1970
    Floors in Building
    1
    Building materials
    Brick, Block

    We can help!

    Listing Contact
    Michelle Parker
    Michelle Parker

    Listing agent Michelle Parker License #276851

    Listing office Parker Scott Properties 352 Commercial Dr, Savannah, GA

    Listing date Mar 15, 2023

    MLS# SA285485

    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.

    HighLights

    • Prime location in Savannah's Streetcar District, near Starland Yard and Forsyth Park
    • TN‑2 zoning permits a wide range of uses
    • Rare off‑street parking in downtown Savannah
    • Recently installed new roof
    • Spacious layout with a unique space previously used as a recording studio
    • Freestanding commercial building available for sale or lease

    Overview

    This freestanding commercial building is available for sale or lease in Savannah's Streetcar District. The property benefits from good visibility and is zoned TN-2, which allows for a wide range of uses, including retail, cafe or coffee shop, veterinary or wellness clinic, creative studio, and multi-family development. The building features a spacious layout of rooms, including a space previously used as a recording studio, offering opportunities for multimedia production or professional services. A new roof has been recently installed. The property includes off-street parking. Situated steps from Starland Yard and less than a mile from Forsyth Park, the location is walkable and well-trafficked, surrounded by a mix of dining, art, retail, residential spaces, and SCAD housing. The property offers functionality and opportunity in one of Savannah's fastest-growing urban areas. The lot size is 0.124 acres, and the property size is 2729 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Audio Visual Repairs ... Electrical Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.10348
    Latitude
    32.053905

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    FAQs

    What type of property is this?
    Retail space - Freestanding commercial building in Savannah's Streetcar District.
    Where is this retail space located?
    The property is located at 2506 Barnard Street Savannah, GA.
    What is the asking price?
    The asking price for this property is $1,088,000.
    What are key features of this property?
    This property features: Prime location in Savannah's Streetcar District, near Starland Yard and Forsyth Park; TN‑2 zoning permits a wide range of uses; Rare off‑street parking in downtown Savannah
    (912) 604-1197
    We can help!
    Listing Contact
    Michelle Parker
    Michelle Parker
    Real Estate License ID: 276851
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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