Medical Office Suite with
For Sale
$289,000
37 W Fairmont Avenue, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size1,350 SF
Lot Size0.02 Acres
Price / SF$214.07
Days on Market35
Property Features for 37 W Fairmont Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Appliances
Dishwasher, Electric Water Heater, Gas Water Heater
Directions
From Abercorn Street/GA-204, turn west onto W Fairmont Avenue. Continue approximately two blocks to Fairmont Office Park at 37 W Fairmont Avenue. Proceed to Suite 201.
Standard status
Active
APN
2059003201
Size
1,350 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 201 FAIRMONT OFFICE PARK CPB 1-146
Tax Annual Amount
1981
Legal Description
UNIT 201 FAIRMONT OFFICE PARK CPB 1-146
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2001
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Stucco
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Kristin Brown · License #301485
(912) 844-2579
Added: Aug 3
Changed: Aug 19
Last Checked: Sep 6 at 6:06AM
MLS# SA362613
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 1,350-square-foot medical office suite is arranged around a shared foyer leading to a waiting area and receptionist window. The interior provides a separate receptionist office, three private offices, a half bath, and a kitchenette with a sink and dishwasher. Tile and carpet flooring are used throughout, with central heating and central air conditioning. Constructed in 2001, the building has stucco exterior construction and public water and sewer service.
The property is located at 37 W Fairmont Avenue in Savannah, near major roadways, shopping, dining, and established commercial corridors. Its existing configuration is suited to an owner-user or business seeking a dedicated office setting with visitor reception and multiple enclosed work areas.
The property is located at 37 W Fairmont Avenue in Savannah, near major roadways, shopping, dining, and established commercial corridors. Its existing configuration is suited to an owner-user or business seeking a dedicated office setting with visitor reception and multiple enclosed work areas.
Key Highlights
- 1,350‑square‑foot medical office suite
- Shared foyer with waiting area and receptionist window
- Three private offices plus a dedicated receptionist office
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
$18,769
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
6.49%
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%
$375,380
$375.4K
Cap Rate 7%
$268,129
$268.1K
Cap Rate 9%
$208,544
$208.5K
Market Conditions
NOI Build-Up for 1,350 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
$30.0K $22.20/SF
− Vacancy
−$4.9K −$3.66/SF
EGI
$25.0K $18.54/SF
− OpEx
−$6.3K −$4.63/SF
NOI
$18.8K $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%
$375,380
Cap Rate 7%
$268,129
Cap Rate 9%
$208,544
Alternative Uses
Best Use
Office B
$268.1K
$234.6K – $312.8K
NOI $18,769 @ 7.0% cap · market cap 6.49%
Second Best
Healthcare Medical
$245.0K
$214.4K – $285.9K
NOI $17,153 @ 7.0% cap · market cap 5.94%
Theoretical Best
Warehouse
$1.26M
$1.10M – $1.47M
NOI $88,316 @ 7.0% cap · market cap 30.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,515
Businesses Nearby
Balanced
Demand for This Use
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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Similar Off Market Nearby
- ST. John Veterinarian — 7312 Hodgson Memorial Dr, Savannah, GA 31406
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- Case Veterinary Hospital — 111 Eisenhower Dr, Savannah, GA 31406
Frequently Asked Questions
What type of property is this?
Medical Office Space - Three private offices, a kitchenette, and a visitor waiting area support a practical professional layout.
Where is this medical office space located?
The property is located at 37 W Fairmont Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,350‑square‑foot medical office suite; Shared foyer with waiting area and receptionist window; Three private offices plus a dedicated receptionist office
