Corner-Lot Showroom with Private
For Sale
$1,500,000
802 Pennsylvania Avenue, Savannah, GA 31404
Commercial Sale, Savannah, GA
Property Size7,440 SF
Lot Size0.66 Acres
Price / SF$201.61
Days on Market364
Property Features for 802 Pennsylvania Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BC
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Appliances
Convection Oven, Cooktop, Gas Water Heater
Directions
Skidaway to Pennsylvania. Property is on the corner of Pennsylvania E Qwinnett St
Standard status
Active
APN
2005804014
Size
7,440 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Description
LTS 20-24 & N PT LTS 1&2 UNNUMBE RED STRIP BLK 18 MEYER WD M&M P ENN AVE
Legal Description
LTS 20-24 & N PT LTS 1&2 UNNUMBE RED STRIP BLK 18 MEYER WD M&M P ENN AVE
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Building materials
Brick
Listing Agency:
TFI Realty LLC
(912) 349-8379
Listed By:
Harold D. Jackson · License #265944
(912) 604-6263
Added: Sep 5, 2025
Changed: Aug 19
Last Checked: Sep 3 at 6:06AM
MLS# SA339452
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.
Set on a 0.657-acre corner lot, this 7,440-square-foot showroom property combines a substantial display area with multiple private offices. The brick building was constructed in 1986 and includes central heating and cooling, with natural gas heat and electric air conditioning. A convection oven, cooktop, and gas water heater are also present. The property is served by public water and public sewer and carries BC zoning.
Located at 802 Pennsylvania Avenue in Savannah, the property offers access to the freeway, Downtown, and Tybee Beach. The surrounding area includes apartments and homes, adding established residential context to the commercial setting.
Located at 802 Pennsylvania Avenue in Savannah, the property offers access to the freeway, Downtown, and Tybee Beach. The surrounding area includes apartments and homes, adding established residential context to the commercial setting.
Key Highlights
- 7,440‑square‑foot showroom on a 0.657‑acre corner lot
- Large showroom with multiple private offices
- BC zoning designation
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
$103,436
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
6.90%
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%
$2,068,720
$2.1M
Cap Rate 7%
$1,477,657
$1.5M
Cap Rate 9%
$1,149,289
$1.1M
Market Conditions
NOI Build-Up for 7,440 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
$165.2K $22.20/SF
− Vacancy
−$27.3K −$3.66/SF
EGI
$137.9K $18.54/SF
− OpEx
−$34.5K −$4.63/SF
NOI
$103.4K $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%
$2,068,720
Cap Rate 7%
$1,477,657
Cap Rate 9%
$1,149,289
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.72M
NOI $103,436 @ 7.0% cap · market cap 6.90%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,457 @ 7.0% cap · market cap 5.63%
Theoretical Best
Warehouse
$6.95M
$6.08M – $8.11M
NOI $486,721 @ 7.0% cap · market cap 32.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Brick construction includes a large display area and multiple enclosed offices.
Where is this showroom located?
The property is located at 802 Pennsylvania Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,440‑square‑foot showroom on a 0.657‑acre corner lot; Large showroom with multiple private offices; BC zoning designation
