Creative Space with Side
1007 Waters Avenue, Savannah, GA 31401
For Sale
$325,000
A single-story property with a flexible interior and side access for moving equipment or furnishings.
Property Size850 SF
Price / SF$382.35
Days on Market18
Property Features for 1007 Waters Avenue
General Information
Standard status
Size
Space & Availability
Floor
Condition
Site & Location
Neighborhood
Road Access
Public Transit
Building Details
Buildings
Stories
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Danni Evans · License GA #361724
(713) 444-4396
Source:
Exprealty
Added: Oct 23
Changed: Nov 3
Last Checked: Nov 8 at 7:19AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-story creative space has a flexible layout and double side doors that support moving larger equipment and furnishings. Past uses have included photography, office work, and podcast production.
The property occupies the corner of Waters Avenue and E. Waldburg Street in Savannah. Downtown Savannah, Truman Parkway, restaurants, shopping, schools, and public transportation are described as minutes away.
The property occupies the corner of Waters Avenue and E. Waldburg Street in Savannah. Downtown Savannah, Truman Parkway, restaurants, shopping, schools, and public transportation are described as minutes away.
Key Highlights
- Double side doors accommodate equipment and furniture moves
- Single‑story building with a flexible layout
- 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
488
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
Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Creative space - A single-story property with a flexible interior and side access for moving equipment or furnishings.
Where is this creative space located?
The property is located at 1007 Waters Avenue 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: Double side doors accommodate equipment and furniture moves; Single‑story building with a flexible layout; Previously used for photography, office space, and podcast production
