Two-Unit Mixed-Use
For Sale
$1,295,000
1014 Abercorn Street, Savannah, GA 31401
TC-1 zoning accommodates commercial space below and residential use above in a flexible two-unit configuration.
Property Size3,040 SF
Price / SF$425.99
Days on Market246
Property Features for 1014 Abercorn Street
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Commercial
Zoning
TC-1, Commercial, Mixed use, Multi Famil
Building Details
Building Size
3,040 SF
Year Built
1890
Stories
2
Listing Agency:
Savannah Real Estate Company
(912) 344-8445
Listed By:
Summer Freeman · License #351981
(912) 344-8445
Source:
Thomasrealtysold
Added: Dec 20, 2025
Changed: Aug 21
Last Checked: Aug 23 at 12:33PM
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 Savannah Real Estate Company
Investment Insights
Based on property information with market context.
This 3,040-square-foot mixed-use property dates to 1890 and is arranged as two distinct units combined into a five-bedroom, three-bathroom configuration. The interior includes two full kitchens and two separate living rooms, providing clear separation between the levels and supporting varied occupancy arrangements.
The ground-floor unit is approved for retail or commercial use under TC-1 zoning, while the upper level remains residential. The zoning designation accommodates commercial, office, service, and multifamily uses, allowing the property to retain both business and residential functions within one building. Located in Savannah’s Historic District at 1014 Abercorn Street, the property is positioned near shopping, dining, cultural landmarks, and downtown amenities.
The ground-floor unit is approved for retail or commercial use under TC-1 zoning, while the upper level remains residential. The zoning designation accommodates commercial, office, service, and multifamily uses, allowing the property to retain both business and residential functions within one building. Located in Savannah’s Historic District at 1014 Abercorn Street, the property is positioned near shopping, dining, cultural landmarks, and downtown amenities.
Key Highlights
- 3,040‑square‑foot mixed‑use property built in 1890
- Two distinct units with 5BR/3BA combined configuration
- Two full kitchens and two separate living rooms
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
$42,264
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
3.26%
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%
$845,280
$845.3K
Cap Rate 7%
$603,771
$603.8K
Cap Rate 9%
$469,600
$469.6K
Market Conditions
NOI Build-Up for 3,040 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
$67.5K $22.20/SF
− Vacancy
−$11.1K −$3.66/SF
EGI
$56.4K $18.54/SF
− OpEx
−$14.1K −$4.63/SF
NOI
$42.3K $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%
$845,280
Cap Rate 7%
$603,771
Cap Rate 9%
$469,600
Alternative Uses
Best Use
Office B
$603.8K
$528.3K – $704.4K
NOI $42,264 @ 7.0% cap · market cap 3.26%
Second Best
Mixed Use
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 2.66%
Theoretical Best
Warehouse
$2.84M
$2.49M – $3.31M
NOI $198,875 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,849
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - TC-1 zoning accommodates commercial space below and residential use above in a flexible two-unit configuration.
Where is this mixed-use property located?
The property is located at 1014 Abercorn Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 3,040‑square‑foot mixed‑use property built in 1890; Two distinct units with 5BR/3BA combined configuration; Two full kitchens and two separate living rooms
