Standalone Office
For Sale
$225,000
1010 E Victory Drive, Savannah, GA 31405
Commercial Sale, Savannah, GA
Property Size900 SF
Lot Size0.10 Acres
Price / SF$250
Days on Market13
Property Features for 1010 E Victory Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RIP
Zoning description
Commercial, Mixed use
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2
Appliances
Dryer, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Washer
Directions
From Downtown Savannah: Take E Victory Drive east toward Waters Avenue. Continue past Waters Avenue; the property is located at the corner of E Victory Drive and Waters Avenue, directly across from Daffin Park.
Standard status
Active
APN
2007611008
Size
900 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT F 1010 EAST VICTORY DRIVE CONDOMINIUM CPB 2-20, CPB 2C 566A
Tax Annual Amount
1590
HOA Fee
$237 Monthly
Legal Description
UNIT F 1010 EAST VICTORY DRIVE CONDOMINIUM CPB 2-20, CPB 2C 566A
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Building materials
Stucco
Roof type
Composition
Architectural style
Other
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Sarah Joy Pounders · License #394165
(404) 210-9383
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 27 at 6:06AM
MLS# SA364617
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.
This standalone office condominium contains 900 square feet within a compact 0.1035-acre parcel. The interior includes a central reception or common area, two private rooms, a full bathroom, and a kitchen or break area. A rear entry connects to the alley, while dedicated parking is positioned at the front. The property is offered in as-is condition.
Built in 1920, the building has stucco construction, a composition roof, central air conditioning, and electric heating. Public water and public sewer serve the property. Its Savannah setting is directly across from Daffin Park, with access to the Waters Avenue corridor, Victory Drive, Parkside, Live Oak, Ardsley Park, and nearby Midtown neighborhoods.
Built in 1920, the building has stucco construction, a composition roof, central air conditioning, and electric heating. Public water and public sewer serve the property. Its Savannah setting is directly across from Daffin Park, with access to the Waters Avenue corridor, Victory Drive, Parkside, Live Oak, Ardsley Park, and nearby Midtown neighborhoods.
Key Highlights
- 900 square feet on a 0.1035‑acre parcel
- Standalone condominium with reception area, two private rooms, kitchen, and full bathroom
- Dedicated parking at the front of the property
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
$12,512
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
5.56%
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%
$250,240
$250.2K
Cap Rate 7%
$178,743
$178.7K
Cap Rate 9%
$139,022
$139.0K
Market Conditions
NOI Build-Up for 900 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
$20.0K $22.20/SF
− Vacancy
−$3.3K −$3.66/SF
EGI
$16.7K $18.54/SF
− OpEx
−$4.2K −$4.63/SF
NOI
$12.5K $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%
$250,240
Cap Rate 7%
$178,743
Cap Rate 9%
$139,022
Alternative Uses
Best Use
Office B
$178.7K
$156.4K – $208.5K
NOI $12,512 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$841.1K
$736.0K – $981.3K
NOI $58,878 @ 7.0% cap · market cap 26.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible layout with reception space, two private rooms, a kitchen, bathroom, and dedicated parking at the front.
Where is this office units located?
The property is located at 1010 E Victory Drive Savannah, GA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 900 square feet on a 0.1035‑acre parcel; Standalone condominium with reception area, two private rooms, kitchen, and full bathroom; Dedicated parking at the front of the property
