Creative Space with Double
New
For Sale
$325,000
1007 Waters Avenue, Savannah, GA 31401
Savannah, GA
Property Size850 SF
Price / SF$382.35
Days on Market6
Property Features for 1007 Waters Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Standard status
Active
Size
850 SF
Additional Details
Condition
Move-in Ready
Amenities
double side doors
Building Details
Year built
1972
Buildings
1
Listing Agency:
Engel & Volkers Savannah · Engel & Völkers
(912) 238-0874
Listed By:
Danni Evans
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 28 at 8:06PM
MLS# SA366990
Copyright © 2026 Engel & Völkers. 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, single-story creative property was built in 1972. Its prior uses include photography, office, and podcast studio functions. Double side doors provide an additional access point for moving equipment and furnishings.
The building occupies the corner of Waters Avenue and E. Waldburg Street in Savannah. Its compact footprint and studio and office history define the available space.
The building occupies the corner of Waters Avenue and E. Waldburg Street in Savannah. Its compact footprint and studio and office history define the available space.
Key Highlights
- 850‑square‑foot, single‑story building
- Double side doors for equipment and furniture access
- Previously used for photography, office, and podcast studio functions
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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Property Analytics
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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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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 - A single-story property at Waters Avenue and E. Waldburg Street has supported studio and office functions.
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‑foot, single‑story building; Double side doors for equipment and furniture access; Previously used for photography, office, and podcast studio functions
