Commercial Land with Road
For Sale
$956,000
6725 Waters Avenue, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size3,429 SF
Lot Size1.09 Acres
Price / SF$278.80
Days on Market196
Property Features for 6725 Waters Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
PBN
Zoning description
Commercial
Parking
17
Appliances
Electric Water Heater
Directions
On waters Avenue between Stephenson and Eisenhower.
Standard status
Active
APN
2049005023
Size
3,429 SF
Lot size
1.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4 SUB 22 23 24 STEPHENSON TCT
Tax Annual Amount
6399
Legal Description
4 SUB 22 23 24 STEPHENSON TCT
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Electric (Heating)
Cooling system
Wall Unit(s), Electric, Window Unit(s)
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Building materials
Stucco
Additional Structures
Greenhouse
Listing Agency:
Rawls Realty
(912) 450-1800
Listed By:
Mary Mosher · License #333999
(912) 272-5271
Added: Feb 21
Changed: Aug 19
Last Checked: Sep 5 at 2:06PM
MLS# SA349455
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 commercial land offering includes a 1.089-acre level parcel with 125 feet of frontage on Waters Avenue and a depth of 385 feet. The property also includes a 3,429-square-foot structure built in 1952, with stucco construction, electric heat, wall and window cooling units, and an electric water heater. Public water service is present, and the site is currently associated with Pink House Florist.
Access is supported by two curb cuts, while Waters Avenue provides four travel lanes and a center turning lane. Traffic signals are located at both ends of the street, and the posted speed limit is 30 MPH. The property sits across from a shopping center and near McDonald's, CVS, Subway, Dollar General, Planet Fitness, and KFC. The surrounding area also includes medical offices and established businesses. Approximately 20,000 vehicles pass the site daily, based on a 2025 census.
Access is supported by two curb cuts, while Waters Avenue provides four travel lanes and a center turning lane. Traffic signals are located at both ends of the street, and the posted speed limit is 30 MPH. The property sits across from a shopping center and near McDonald's, CVS, Subway, Dollar General, Planet Fitness, and KFC. The surrounding area also includes medical offices and established businesses. Approximately 20,000 vehicles pass the site daily, based on a 2025 census.
Key Highlights
- 1.089‑acre commercial parcel with 125 feet of Waters Avenue frontage
- 3,429‑square‑foot structure built in 1952
- 385‑foot site depth with level land throughout
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
$38,925
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
4.07%
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%
$778,500
$778.5K
Cap Rate 7%
$556,071
$556.1K
Cap Rate 9%
$432,500
$432.5K
Market Conditions
NOI Build-Up for 3,429 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
$59.7K $17.40/SF
− Vacancy
−$4.1K −$1.18/SF
EGI
$55.6K $16.22/SF
− OpEx
−$16.7K −$4.87/SF
NOI
$38.9K $11.35/SF
Area
Savannah, GA
Vacancy
6.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$778,500
Cap Rate 7%
$556,071
Cap Rate 9%
$432,500
Alternative Uses
Best Use
Retail
$556.1K
$486.6K – $648.8K
NOI $38,925 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.20M
$2.80M – $3.74M
NOI $224,324 @ 7.0% cap · market cap 23.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,489
Businesses Nearby
57k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 32%
Apparel 12%
McDonald's
Dining
27,737 visits/mo
0.2 miles
Dollar General
Shops & Services
7,281 visits/mo
0.0 miles
Once Upon A Child
Apparel
6,992 visits/mo
0.2 miles
Shell
Shops & Services
5,190 visits/mo
0.2 miles
Ameris Bank
Shops & Services
2,824 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Level commercial tract along Waters Avenue with multiple access points and nearby retail, restaurant, fitness, and service businesses.
Where is this commercial land located?
The property is located at 6725 Waters Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $956,000.
What are key features of this property?
This property features: 1.089‑acre commercial parcel with 125 feet of Waters Avenue frontage; 3,429‑square‑foot structure built in 1952; 385‑foot site depth with level land throughout
