Historic Mixed-Use Commercial
For Sale
$9,000,000
102-108 W Congress Street, Savannah, GA 31401
SINGLE_FAMILY - Savannah, GA
Property Size19,020 SF
Lot Size0.07 Acres
Price / SF$473.19
Days on Market187
Property Features for 102-108 W Congress Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
D-CBD
Appliances
Convection Oven, Dishwasher, Electric Water Heater, Freezer
Directions
Head west on E Bay St toward Habersham St, Turn left onto Jefferson St, Turn left onto W Congress St, Building will be on the left.
Standard status
Active
APN
2000430007
Size
19,020 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
LOT A-1 (A/K/A LOT A) SUB OF THE EASTERN PT OF LOT M DECKER WD
Legal Description
LOT A-1 (A/K/A LOT A) SUB OF THE EASTERN PT OF LOT M DECKER WD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1852
Floors in Building
3
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Elaine Seabolt · License #139140
(912) 224-7511
Added: Feb 11
Changed: Aug 10
Last Checked: Aug 17 at 5:06PM
MLS# SA345350
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 D-CBD-zoned commercial property encompasses 19,020 square feet across three contiguous addresses at 102-108 W. Congress Street. Built in 1852, the building includes flexible interior space identified for retail, food and beverage, entertainment, office, or mixed-use redevelopment. Existing equipment includes convection ovens, a dishwasher, an electric water heater, and a freezer, with central electric heating and central air conditioning. The property sits on 0.065 acres and is served by public water and public sewer.
The asset is positioned within Savannah’s Historic District near City Market, Ellis Square, and River Street. The surrounding area includes hotels, retailers, and cultural destinations. The property’s former restaurant use and established downtown setting provide a commercial framework for a range of potential reconfigurations, subject to applicable approvals.
The asset is positioned within Savannah’s Historic District near City Market, Ellis Square, and River Street. The surrounding area includes hotels, retailers, and cultural destinations. The property’s former restaurant use and established downtown setting provide a commercial framework for a range of potential reconfigurations, subject to applicable approvals.
Key Highlights
- 19,020 square feet across three contiguous addresses
- D‑CBD zoning on 0.065 acres
- Constructed in 1852 within Savannah’s Historic District
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
$266,912
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
2.97%
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%
$5,338,240
$5.3M
Cap Rate 7%
$3,813,029
$3.8M
Cap Rate 9%
$2,965,689
$3.0M
Market Conditions
NOI Build-Up for 19,020 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
$376.6K $19.80/SF
− Vacancy
−$20.7K −$1.09/SF
EGI
$355.9K $18.71/SF
− OpEx
−$89.0K −$4.68/SF
NOI
$266.9K $14.03/SF
Area
Savannah, GA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$5,338,240
Cap Rate 7%
$3,813,029
Cap Rate 9%
$2,965,689
Alternative Uses
Best Use
Specialty Retail
$3.81M
$3.34M – $4.45M
NOI $266,912 @ 7.0% cap · market cap 2.97%
Second Best
Retail
$3.08M
$2.70M – $3.60M
NOI $215,910 @ 7.0% cap · market cap 2.40%
Theoretical Best
Warehouse
$17.78M
$15.55M – $20.74M
NOI $1,244,280 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,043
Businesses Nearby
330k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 36%
Shops & Services 27%
Dining 20%
Apparel 11%
Parker's Kitchen
Shops & Services
23,226 visits/mo
0.5 miles
Parker's Kitchen
Shops & Services
16,514 visits/mo
0.3 miles
Gap
Apparel
16,199 visits/mo
0.0 miles
Hotel Indigo Savannah Historic District
Hotels & Casinos
15,469 visits/mo
0.1 miles
McDonald's
Dining
14,310 visits/mo
0.1 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - D-CBD-zoned building with adaptable interior space across three contiguous addresses in Savannah’s Historic District.
Where is this mixed-use property located?
The property is located at 102-108 W Congress Street Savannah, GA.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 19,020 square feet across three contiguous addresses; D‑CBD zoning on 0.065 acres; Constructed in 1852 within Savannah’s Historic District
