Flex Space with Roll-Up
For Sale
$2,400,000
112 W Victory Drive, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size5,875 SF
Lot Size0.17 Acres
Price / SF$408.51
Days on Market159
Property Features for 112 W Victory Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BN
Parking
18
Directions
Heading west on Victory from Bull Street, property will be on your right between Whitaker and Barnard street.
Standard status
Active
APN
2007423008
Size
5,875 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
20 22 NORWOOD WARD
Tax Annual Amount
6340
Legal Description
20 22 NORWOOD WARD
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Building materials
Block
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Beth L. Vantosh · License #248541
(912) 663-3392
Added: Mar 18
Changed: Aug 20
Last Checked: Aug 23 at 11:06AM
MLS# SA351544
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 5,875-square-foot flex property was built in 1970 with block construction and includes two roll-up doors. The building provides a practical format for commercial occupancy, with 19 lined parking spaces supporting on-site access. Public water and public sewer serve the property.
The building is located at 112 W Victory Drive in Savannah, directly across from SCAD Victory Village. The Victory Drive corridor carries approximately 25,000 cars daily, providing established exposure for the site. Its existing improvements and parking support continued commercial use, while the building’s flexible format accommodates a range of operational layouts.
The building is located at 112 W Victory Drive in Savannah, directly across from SCAD Victory Village. The Victory Drive corridor carries approximately 25,000 cars daily, providing established exposure for the site. Its existing improvements and parking support continued commercial use, while the building’s flexible format accommodates a range of operational layouts.
Key Highlights
- 5,875‑square‑foot flex property at 112 W Victory Drive, Savannah
- Approximately 25,000 cars daily on the Victory Drive corridor
- Directly across from SCAD Victory Village
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
$88,179
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
3.67%
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%
$1,763,580
$1.8M
Cap Rate 7%
$1,259,700
$1.3M
Cap Rate 9%
$979,767
$979.8K
Market Conditions
NOI Build-Up for 5,875 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
$151.6K $25.80/SF
− Vacancy
−$15.9K −$2.71/SF
EGI
$135.7K $23.09/SF
− OpEx
−$47.5K −$8.08/SF
NOI
$88.2K $15.01/SF
Area
Savannah, GA
Vacancy
10.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,763,580
Cap Rate 7%
$1,259,700
Cap Rate 9%
$979,767
Alternative Uses
Best Use
Industrial
$4.52M
$3.96M – $5.28M
NOI $316,515 @ 7.0% cap · market cap 13.19%
Second Best
Flex RnD
$1.26M
$1.10M – $1.47M
NOI $88,179 @ 7.0% cap · market cap 3.67%
Theoretical Best
Warehouse
$5.49M
$4.80M – $6.41M
NOI $384,340 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Block-built commercial space offers adaptable interior configuration, dedicated parking, and public utilities.
Where is this flex space located?
The property is located at 112 W Victory Drive Savannah, GA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 5,875‑square‑foot flex property at 112 W Victory Drive, Savannah; Approximately 25,000 cars daily on the Victory Drive corridor; Directly across from SCAD Victory Village
