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    6228 Waters Avenue Ct Savannah, GA 31406

    Sponsored
    For Lease
    Under Contract
    $4,000 /Mo ($14 SF/Yr)

    COMMERCIAL - Other - Savannah, GA

    Type:Retail
    Property size:
    3,370 SF
    Lot size:
    0.57 Acres
    Days on Market:
    42
    Last Refresh:
    Feb 20 at 10:06 pm

    Property Features for 6228 Waters Avenue Ct

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Lease
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Security features
    Security Lighting
    Window features
    Double Pane Windows
    Zoning
    B-L
    Rooms
    Bathroom 1
    Bathrooms
    1
    APN
    2014604012
    Parking
    12
    Interior features
    High Ceilings, Programmable Thermostat
    Exterior features
    Storage
    Appliances
    Electric Water Heater
    Size
    3,370 SF
    Lot size
    0.57 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer, Septic Tank
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1935
    Floors in Building
    1
    Flooring type
    Hardwood
    Building materials
    Cedar
    Roof type
    Asphalt
    Architectural style
    Other
    Additional Structures
    Storage, Outbuilding

    We can help!

    Listing Contact
    Steven Fischer
    Steven Fischer

    ERA Southeast Coastal (912) 927-1088

    Listing agent Steven Fischer (912) 927-1088 License #132691

    Listing date Jan 10, 2026

    MLS# SA336485

    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.

    Learn more

    Property Insight Report

    Overview

    Waters Avenue Retail/Storage Opportunity

    This desirable property is located on Waters Avenue on the southside of Savannah, situated between DeRenne and Stephenson, next to an established apartment complex and a senior living community. The property features 113.50' of frontage and a depth of 200'. The building is set back, providing high visibility and accessibility in this high-traffic area, with ample ingress and egress via two separate curb cuts leading to a paved parking lot. The site includes two buildings: a retail store built in 1935, previously renovated, and a detached storage building. The main building offers 2290 sq ft and features a cedar exterior, off-ground construction, a large covered entry, functional retail floor space designed for a floral showroom but suitable for many uses, a large production area, a large inventory storage room, two private offices, and a restroom. The detached storage building measures 20' X 54', totaling 1080 sq ft, and includes AC, lighting, and a large walk-in cooler. Both buildings total 3370 sq ft. The walk-in coolers can be easily removed. The property is zoned B-L and sits on a lot of 0.57 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.09819
    Latitude
    32.013572

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    FAQs

    What type of property is this?
    Retail space - Retail and storage buildings on high-traffic Waters Avenue.
    Where is this retail space located?
    The property is located at 6228 Waters Avenue Ct Savannah, GA.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - High-visibility location on Waters Ave with high traffic and easy access via two curb cuts.; - Main retail building (2290 sq ft) renovated by Don Reece, suitable for various uses.; - Includes a detached storage building (1080 sq ft) with AC, lighting, and a walk-in cooler.
    (912) 927-1088
    Request Owner's contact information
    6228 Waters Avenue Ct Savannah, GA 31406
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    Savannah, GA 31406
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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
    6228 Waters Avenue Ct Savannah, GA 31406
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    We can help!
    Listing Contact
    Steven Fischer
    Steven Fischer
    Real Estate License ID: 132691
    (912) 927-1088 (912) 656-1165
    Learn more
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