Renovated First-Floor Office
For Sale
$155,000
355 Commerce Place, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size616 SF
Lot Size0.01 Acres
Price / SF$251.62
Days on Market43
Property Features for 355 Commerce Place
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
PUDB
Zoning description
Commercial
Appliances
Electric Water Heater
Directions
Head south on Abercorn St.Turn left onto Eisenhower Dr.Turn right onto Commercial Drive.Look for the Commerce Place office park on the left.
Standard status
Active
APN
2053412036
Size
616 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT C BLDG 355 COMMERCE PL COND O
Tax Annual Amount
949
Legal Description
UNIT C BLDG 355 COMMERCE PL COND O
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Flooring type
Vinyl
Building materials
Frame
Roof type
Asphalt
Listing Agency:
Scott Realty Professionals
(912) 349-7766
Listed By:
Sabriya Scott · License #269094
(912) 844-0682
Added: Jul 24
Changed: Aug 19
Last Checked: Sep 4 at 3:06AM
MLS# SA360851
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 616-square-foot office unit occupies the first floor and has been recently renovated. The layout includes two private offices, a reception area that can function as additional workspace, a kitchenette with wet bar, and a private restroom. Vinyl flooring, central heating, and central air provide practical interior finishes and climate control.
The property is located at 355 Commerce Place in Savannah, Georgia 31406, within Chatham County. It carries PUDB zoning and was built in 1982. Public water and public sewer serve the property, with an electric water heater and frame construction. The configuration is suited to professional office operations, including administrative, consulting, real estate, financial, insurance, medical, or salon uses identified for the space.
The property is located at 355 Commerce Place in Savannah, Georgia 31406, within Chatham County. It carries PUDB zoning and was built in 1982. Public water and public sewer serve the property, with an electric water heater and frame construction. The configuration is suited to professional office operations, including administrative, consulting, real estate, financial, insurance, medical, or salon uses identified for the space.
Key Highlights
- 616 square feet of first‑floor office space
- Two private offices plus reception area with additional workspace potential
- Kitchenette with wet bar and private restroom
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
$8,564
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
5.53%
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%
$171,280
$171.3K
Cap Rate 7%
$122,343
$122.3K
Cap Rate 9%
$95,156
$95.2K
Market Conditions
NOI Build-Up for 616 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
$13.7K $22.20/SF
− Vacancy
−$2.3K −$3.66/SF
EGI
$11.4K $18.54/SF
− OpEx
−$2.9K −$4.63/SF
NOI
$8.6K $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%
$171,280
Cap Rate 7%
$122,343
Cap Rate 9%
$95,156
Alternative Uses
Best Use
Office B
$122.3K
$107.1K – $142.7K
NOI $8,564 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$575.7K
$503.7K – $671.6K
NOI $40,298 @ 7.0% cap · market cap 26.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two private offices, kitchenette, wet bar, and restroom support a flexible professional workspace.
Where is this office units located?
The property is located at 355 Commerce Place Savannah, GA.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 616 square feet of first‑floor office space; Two private offices plus reception area with additional workspace potential; Kitchenette with wet bar and private restroom
