Creative Space with Side Loading
1007 Waters Ave, Savannah, GA 31401
For Sale
$325,000
Side entrances support moving equipment and furnishings into the single-level space.
Property Size850 SF
Price / SF$382.35
Days on Market26
Property Features for 1007 Waters Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Road Access
Public Transit
Additional Details
Condition
Building Details
Year Built
Buildings
Stories
Listing Agency:
Engel & Volkers
Listed By:
Danni Evans · License GA #361724
(713) 444-4396
Source:
Searchgreateraugustahomes
Added: Oct 15
Changed: Nov 1
Last Checked: Nov 8 at 7:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Engel & Volkers
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Investment Insights
Based on property information with market context.
This single-story creative property at 1007 Waters Ave has been updated and maintained. Its prior uses include photography, office work, and podcast production. Two side doors provide access for moving equipment and furniture.
The building sits at the corner of Waters Ave and E Waldburg St in Savannah, with Downtown Savannah, Truman Parkway, restaurants, shopping, schools, and public transportation described as minutes away.
The building sits at the corner of Waters Ave and E Waldburg St in Savannah, with Downtown Savannah, Truman Parkway, restaurants, shopping, schools, and public transportation described as minutes away.
Key Highlights
- Single‑story building at Waters Ave and E Waldburg St
- Two side doors for moving equipment and furniture
- Previously used for photography, office space, and podcast production
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,817
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$236,340
$236.3K
Cap Rate 7%
$168,814
$168.8K
Cap Rate 9%
$131,300
$131.3K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$18.9K $22.20/SF
− Vacancy
−$3.1K −$3.66/SF
EGI
$15.8K $18.54/SF
− OpEx
−$3.9K −$4.63/SF
NOI
$11.8K $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 Rate 5%
$236,340
Cap Rate 7%
$168,814
Cap Rate 9%
$131,300
Alternative Uses
Best Use
Office B
$168.8K
$147.7K – $197.0K
NOI $11,817 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$229.5K
$200.8K – $267.8K
NOI $16,065 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Creative space - Side entrances support moving equipment and furnishings into the single-level space.
Where is this creative space located?
The property is located at 1007 Waters Ave Savannah, GA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Single‑story building at Waters Ave and E Waldburg St; Two side doors for moving equipment and furniture; Previously used for photography, office space, and podcast production
