Standalone Office
For Sale
$225,000
1010 E Victory Drive F, Savannah, GA 31405
Standalone condominium office with O-I zoning, dedicated parking, and a flexible interior arrangement for professional use.
Property Size900 SF
Price / SF$250
Days on Market12
Property Features for 1010 E Victory Drive F
General Information
Standard status
Active
Size
900 SF
Zoning
O-I
Additional Details
Office Units
1
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Engel & Volkers
Listed By:
Sarah J. Pounders · License #394165
(404) 210-9383
Source:
Thehomesourcegroupga
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 26 at 9:35AM
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
Investment Insights
Based on property information with market context.
This standalone condominium office contains 900 square feet and was built in 1920. The interior includes a central reception or shared area, two enclosed rooms, a full bathroom, and a kitchen or break area. A rear doorway connects to the alley, while dedicated parking is positioned at the front of the property. The space is offered in As-Is Condition.
Located at 1010 E Victory Drive F in Savannah, the property sits across from Daffin Park and provides access to the Waters Avenue corridor, Victory Drive, Parkside, Live Oak, Ardsley Park, and surrounding Midtown Savannah neighborhoods. O-I (Office-Institutional) zoning supports professional, office, or institutional uses subject to applicable requirements and approvals.
Located at 1010 E Victory Drive F in Savannah, the property sits across from Daffin Park and provides access to the Waters Avenue corridor, Victory Drive, Parkside, Live Oak, Ardsley Park, and surrounding Midtown Savannah neighborhoods. O-I (Office-Institutional) zoning supports professional, office, or institutional uses subject to applicable requirements and approvals.
Key Highlights
- 900‑square‑foot standalone condominium office
- O‑I (Office‑Institutional) zoning
- Two private rooms, reception area, full bathroom, and kitchen/break area
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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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
601
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
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Market
Vacancy Rate% for Office in Savannah, GA
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Frequently Asked Questions
What type of property is this?
Office units - Standalone condominium office with O-I zoning, dedicated parking, and a flexible interior arrangement for professional use.
Where is this office units located?
The property is located at 1010 E Victory Drive F 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‑foot standalone condominium office; O‑I (Office‑Institutional) zoning; Two private rooms, reception area, full bathroom, and kitchen/break area
