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    422 W 43Rd St Savannah, GA 31401

    Sponsored
    For Lease
    $32 SF/Yr ($7,466 /Mo)

    Victorian, Commercial Lease - Savannah, GA

    Type:Office
    Property size:
    2,800 SF
    Lot size:
    0.19 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 23 at 3:06 am

    Property Features for 422 W 43Rd St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    2007418011
    Parking
    6
    Interior features
    High Ceilings
    Appliances
    Range, Refrigerator
    Size
    2,800 SF
    Lot size
    0.19 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Heat Pump

    Building Details

    Year built
    1920
    Floors in Building
    2
    Flooring type
    Hardwood
    Roof type
    Composition
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Shane P. Litts

    Engel & Völkers Savannah [email protected]

    Listing agent Shane P. Litts (912) 238-0874

    Listing date Jan 21, 2026

    MLS# SA347065 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Savannah Commercial Space For Lease

    Located at 422 W 43rd Street in Savannah, GA, this property offers approximately 2,800 square feet of space for lease. The two-story building is zoned TC-1 (Traditional Commercial) and is situated in Savannah's Streetcar District. It is suitable for restaurant, cafe, professional office, retail, or service-oriented uses, subject to city requirements. The corner location provides frontage on both W 43rd Street and Martin Luther King Jr. Boulevard, offering visibility and access. The property includes a gated rear courtyard and six off-street parking spaces. The interior layout allows for single-tenant or creative commercial configurations. The property is located adjacent to The Jardin, a new mixed-use development under construction, and benefits from increasing residential density and commercial demand in the area. It is also located minutes from Downtown Savannah, SCAD housing, and major commuter corridors. The lot size is 0.186 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Third Space Collective Book Store House Of DANIETTÉ Fashion Designer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.10678099
    Latitude
    32.05411397

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    FAQs

    What type of property is this?
    Office space - Two-story commercial building in Savannah's Streetcar District available for lease.
    Where is this office space located?
    The property is located at 422 W 43Rd St Savannah, GA.
    What is the lease rate?
    The lease rate is $32 SF/Yr.
    What are key features of this property?
    This property features: - Rare TC-1 zoning in Savannah's Streetcar District allows for diverse commercial uses.; - Highly visible corner location with dual frontage on W 43rd Street and Martin Luther King Jr. Boulevard.; - Six off-street parking spaces, a rare and valuable amenity.
    (912) 238-0874
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    422 W 43Rd St Savannah, GA 31401
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    Savannah, GA 31401
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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
    422 W 43Rd St Savannah, GA 31401
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    We can help!
    Listing Contact
    Shane P. Litts
    (912) 238-0874
    Learn more
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