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    104 17th Street Tybee Island, GA 31328

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    For Sale
    $5,995,000

    MULTI_FAMILY - Other - Tybee Island, GA

    Property size:
    9,382 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $638/SF
    Added:
    Dec 19, 2025
    Days on Market:
    130
    Last Refresh:
    Apr 28 at 7:06 pm

    Property Features for 104 17th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Zoning
    C-1
    Bedrooms
    22
    Bathrooms
    21
    Rooms
    Bathroom 13, Bedroom 14, Bathroom 5, Bedroom 15, Bedroom 18, Bathroom 15, Bedroom 21, Bathroom 16, Bathroom 14, Bedroom 20, Bathroom 3, Bathroom 7, Bathroom 4, Bathroom 6, Bathroom 17, Bathroom 1, Bedroom 5, Bathroom 18, Bedroom 11, Bedroom 17, Bathroom 9, Bedroom 12, Bedroom 16, Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 12, Bedroom 10, Bedroom 7, Bedroom 8, Bedroom 3, Bathroom 11, Bedroom 6, Bathroom 19, Bedroom 9, Bedroom 22, Bedroom 13, Bathroom 10, Bathroom 21, Bathroom 8, Bathroom 20, Bedroom 1, Bedroom 19
    Parking features
    Open
    Patio and Porch features
    Patio, Deck
    Interior features
    Ceiling Fan(s), Pull Down Attic Stairs
    Exterior features
    Balcony, Courtyard, Deck, Landscape Lights
    Fencing
    Privacy, Fenced
    Appliances
    Some Electric Appliances, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Dryer, Refrigerator, Washer
    Standard status
    Active
    APN
    40008 18001
    Size
    9,382 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Description
    WEST PART OF LOT 3 AND PART OF L OT 4 WARD 5 TYBEE ISLAND

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    2025
    Floors in Building
    3
    Number of units
    1
    Building materials
    Brick, Frame, Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Summer Freeman

    Listing agent Summer Freeman License #351981

    Listing office Savannah Real Estate Company 331 Tattnall Street, Savannah, GA

    Listing date Dec 19, 2025

    MLS# SA345495 Listing URL

    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.

    Overview

    Tybee Island Multifamily Investment Opportunity

    The "Tybee Reserve" is a multifamily property located on Tybee Island, GA, featuring four attached single-family units being sold as one property. Zoned commercial and eligible for residential financing, this STVR eligible property offers immediate move-in readiness. The property includes a total of 22 bedrooms, 19 full bathrooms, and 2 half bathrooms, spanning 9382 square feet on a 0.19-acre lot. Each three-story unit features an open concept layout, 12-foot ceilings, a full kitchen, multiple living spaces, a washer and dryer, sound deadening spray foam, secure keyless entry, and dedicated parking with 2-car garages plus driveways for 2-3 additional parking spaces. Interiors showcase 3 1/4 solid white oak hardwood flooring, custom kitchens with Cambria Luxury Series Quartz, designer lighting, and large windows. A central resort-style outdoor courtyard includes a private heated saltwater pool with a shell lock paver lounge deck. Unit A features 4 bedrooms and 4 bathrooms with an office, accommodating up to 12 guests. Unit B offers 6 bedrooms and 5.5 bathrooms, accommodating up to 14 guests. Unit C includes 6 bedrooms and 5.5 bathrooms with a bunk room, accommodating up to 16 guests. Unit D provides 6 bedrooms and 5 bathrooms, accommodating up to 14 guests. All units feature French doors opening to neighborhood views, while Units C and D offer oversized sliding glass doors leading to a balcony with pool views. Located in an X flood zone, flood insurance is not required. It is a short walk to the beach, pier, pavilion, Tybrisa dining, and retail. The property has a projected annual income of $775K+.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Department Store Kitchen & Bath Showroom Food Market Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tybee Island
    County
    Chatham
    State
    Georgia
    Longitude
    -80.85024
    Latitude
    31.991389

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    FAQs

    What type of property is this?
    Apartment building - Four luxury units, 22 bedrooms, projected $775K+ annual income.
    Where is this apartment building located?
    The property is located at 104 17th Street Tybee Island, GA.
    What is the asking price?
    The asking price for this property is $5,995,000.
    What are key features of this property?
    This property features: Projected annual income of $775,000+ as a Short Term Vacation Rental (STVR) eligible property.; Tybee's largest 4‑unit development with **22 bedrooms and 19 full bathrooms**, offering substantial rental capacity.; **Central resort‑style outdoor courtyard featuring a private heated saltwater pool with shell lock paver lounge deck.**
    (912) 344-8445
    We can help!
    Listing Contact
    Summer Freeman
    Real Estate License ID: 351981
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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