Savannah Commercial Investment
5204 Waters Avenue, Savannah, GA 31404
SINGLE_FAMILY - Savannah, GA
Type:Retail
Property size:
5,266 SFLot size:
0.44 AcresPrice / SF:
$139/SF- Added:
- May 8, 2026
- Days on Market:
- 19
- Last Refresh:
- May 26 at 2:06 am
Property Features for 5204 Waters Avenue
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- BN
- Parking
- 10
- Appliances
- Electric Water Heater
- Standard status
- Active
- APN
- 2011405015
- Size
- 5,266 SF
- Lot size
- 0.44 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOTS 70, 71, 72 AND 73 BEVILL WA RD SOUTH GARDENS
- Tax Annual Amount
- 4898
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1976
- Floors in Building
- 1
- Building materials
- Brick, Block
Listing agent Maranda L. Alford License #441350 (912) 856-7734
Listing office Frank Moore & Company, LLC 409 Montgomery Xrds, Ste 4A, Savannah, GA (912) 920-8560
Listing date May 8, 2026
MLS# SA355098
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 commercial location in a high‑demand Savannah corridor, near Memorial Health University Medical Center.
- Two commercially zoned parcels totaling approximately 0.4361 acres, offering expansion or development potential.
- Strong road frontage and visibility (over 100ft) on Waters Avenue.
- Durable, low‑maintenance all‑brick exterior construction on all sides with a solid concrete rear exterior.
- Existing Lamar sign generates $400/month income with over 7 years remaining on the contract.
- Located in an area with steady traffic flow and continued growth, surrounded by established retail, medical, and residential areas.
Overview
This commercial real estate offering features two commercially zoned parcels totaling approximately 0.4361 acres. The parcels are strategically positioned just off Waters Avenue, in close proximity to Memorial Health University Medical Center. The front parcel at 5204 Waters Avenue offers over 100ft of road frontage and visibility. The adjoining parcel at 1104 E. 67th Street provides additional space for expansion, development, or support use. The front property is a durable build featuring an all-brick exterior on all sides with a solid concrete rear exterior. The combined layout presents a versatile opportunity for investors, developers, or owner-users seeking a well-located commercial footprint. There is a Lamar sign on the property at 5204 Waters Avenue that generates $400 per month with over 7 years remaining in the contract. Surrounded by established retail, medical, and residential areas, this property benefits from steady traffic flow and continued area growth. The 5,266 square feet property is ideal for a variety of commercial uses. Sale includes both parcels: 5204 Waters Avenue and 1104 E. 67th Street. Parcels are being sold together as a package and will not be sold separately.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$664.2K
NOI $59,778 @ 9.00% cap · cautious / downside scenario
Moderate
$854.0K
NOI $59,778 @ 7.00% cap · market / base-case scenario
Aggressive
$1.20M
NOI $59,778 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.6k | $17.40 |
| − Vacancy | −$6.2k | −$1.18 |
| EGI | $85.4k | $16.22 |
| − OpEx | −$25.6k | −$4.87 |
| NOI | $59.8k | $11.35 |
5,266 SF · lease $17.40/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$854.0K
$747.2K – $996.3K
NOI $59,778 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.92M
$4.31M – $5.74M
NOI $344,499 @ 7.0% cap · market cap 46.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Savannah
- County
- Chatham
- State
- Georgia
- Longitude
- -81.092841
- Latitude
- 32.028407
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Two commercially zoned parcels totaling 0.4361 acres in Savannah, GA.
Where is this retail space located?
The property is located at 5204 Waters Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Prime commercial location in a high‑demand Savannah corridor, near Memorial Health University Medical Center.; Two commercially zoned parcels totaling approximately 0.4361 acres, offering expansion or development potential.; Strong road frontage and visibility (over 100ft) on Waters Avenue.
