Creative Space with Side
New
For Sale
$325,000
1007 Waters Avenue, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size850 SF
Lot Size0.03 Acres
Price / SF$382.35
Days on Market6
Property Features for 1007 Waters Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RB
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Parking
1
Window features
Double Pane Windows
Exterior features
Fence
Fencing
Fenced, Privacy
Appliances
Dishwasher, Electric Water Heater, Microwave, Refrigerator
Directions
From Downtown Savannah head on Wheaton St until you reach Waters, make right. Property is down on the right, across from the cleaners (Best Cleaners and Laundry). Corner of East Waldburg and Waters.
Standard status
Active
APN
2004214018
Size
850 SF
Lot size
0.03 Acres
Additional Details
Condition
Move-in Ready
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 80 KELLY WARD PRB 37P 29
Tax Annual Amount
244
Legal Description
LOT 80 KELLY WARD PRB 37P 29
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Flooring type
Tile
Roof type
Asphalt
Buildings
1
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Danni Evans · License #361724
(713) 444-4396
Added: Oct 23
Last Checked: Oct 28 at 8:06PM
MLS# SA366990
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.
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Investment Insights
Based on property information with market context.
This 850-square-foot creative space is arranged on one level and has tile flooring, a bathroom, and double side doors. Its recorded prior configurations include photography, office, and podcast studio use. The building dates to 1972 and has central electric heating and air conditioning, along with a dishwasher, microwave, and refrigerator.
The property occupies a corner at Waters Avenue and E. Waldburg Street in Savannah. It sits on a 0.03-acre lot and is zoned RB. Public water and sewer serve the site.
The property occupies a corner at Waters Avenue and E. Waldburg Street in Savannah. It sits on a 0.03-acre lot and is zoned RB. Public water and sewer serve the site.
Key Highlights
- 850 square feet of interior space
- RB zoning
- Double side doors
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
Warehouse
$794.4K
$695.1K – $926.8K
NOI $55,607 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Creative space - A compact, single-level commercial property includes tile flooring and a fenced exterior.
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: 850 square feet of interior space; RB zoning; Double side doors
