Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Downtown Office and Retail Title is generated by Realmo AI

    116 Bull St, Savannah, GA 31401

    View on Map
    Claim this Listing
    For Lease
    $29 SF/Yr $2,458/Mo (calc)

    Two-story property in Savannah's historic business district.

    Type:Office
    Property size:
    1,000 SF
    Added:
    Mar 6, 2026
    Days on Market:
    82
    Last Refresh:
    Apr 5 at 11:40 pm

    Property Features for 116 Bull St

    General Information

    Standard status
    Active
    Size
    1,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1890

    Spaces For Lease

    at 116 Bull St Contact us

    We can help!

    Listing Contact
    Ryan T. Schneider, CCIM

    Listing agent Ryan T. Schneider, CCIM License #GA #157331

    Listing office Pier Commercial

    Listing date Mar 6, 2026

    Source Piercommercial

    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 Pier Commercial

    HighLights

    • Located in the heart of the historic business district.
    • Direct access to the office space from Bull Street.
    • Three retail tenants on the ground floor (barber shop, housewares, boutique).
    • Interior office layout suited for various types of companies.
    • Large offices available.
    • Space available as small as 1,000 sq. ft.

    Overview

    This historic two-story property features three retail tenants on the ground floor: a barber shop, a housewares store, and a women's boutique. The office entrance is prominently located on Bull Street, featuring a glass entrance door suitable for sign graphics. The interior design and layout of the 2nd-floor offices are designed for various types of companies seeking space in downtown Savannah. The property has direct access from Bull Street and an efficient layout with large offices. Space is available starting at 1,000 square feet and is located in the heart of the historic business district.
    Location Intelligence

    Current Use by Public Records

    South Magazine Publishing House

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.092
    Latitude
    32.0784

    Nearby Similar for Lease

    • $32 SF/Yr
      1,210 SF

      Savannah Retail/Office Suites Available

      Retail/office suites for lease in established neighborhood center.
      4410 Ogeechee Road, Savannah, GA 31405
      View Details
    • $3,364/Mo
      20,760 SF

      Savannah Flex/Showroom Building For Lease

      Versatile flex/showroom building suitable for various business needs.
      2023 E Gwinnett Street, Savannah, GA 31404
      View Details
    • $1,200/Mo
      582 SF

      Savannah Office Space For Rent

      Character-filled office space in prime midtown location near Daffin Park.
      2425 Waters Avenue, Savannah, GA 31404
      View Details
    • $3,364/Mo
      18,970 SF

      Savannah Flex/Showroom Building For Lease

      Versatile flex/showroom building suitable for various business needs.
      2027 E Gwinnett Street, Savannah, GA 31404
      View Details
    • $2,200/Mo
      828 SF

      Retail Building in Savannah, GA

      Standalone retail building with parking available June 1, 2026.
      2217 Skidaway Road, Savannah, GA 31404
      View Details
    • $3,500/Mo
      3,386 SF

      Savannah Commercial Space For Lease

      Versatile commercial space suitable for retail, salon, office, or service-based businesses.
      1815 Waters Avenue, Savannah, GA 31401
      View Details
    • $2,200/Mo
      1,200 SF

      Office Space in Midtown Savannah

      First floor office suite with reception, offices, and kitchenette.
      340 Eisenhower Drive, Savannah, GA 31406
      View Details
    • $1,550/Mo
      1,073 SF

      Savannah Office Condo For Rent

      Corner office condo in White Bluff Business Park available now.
      9100 White Bluff Road, Savannah, GA 31406
      View Details
    • $2,400/Mo
      725 SF

      Remodeled Office Suite For Rent

      Bright, remodeled office suite ideal for medical or professional use.
      340 Eisenhower Drive, Savannah, GA 31406
      View Details
    • $2,500/Mo
      2,500 SF

      Updated Commercial Space on Highway

      2,500 SF commercial space with recent upgrades on Highway 80.
      525 Us Highway 80 W, Savannah, GA 31408
      View Details
    • $895/Mo
      820 SF

      Office Space in Savannah

      Office space available in Southside Savannah business district.
      6815 Forest Park Drive, Savannah, GA 31406
      View Details
    • $1,683/Mo
      918 SF

      Savannah Office Space For Rent

      918 sq ft office space with high visibility.
      6409 Abercorn Street, Savannah, GA 31405
      View Details

    FAQs

    What type of property is this?
    Office units - Two-story property in Savannah's historic business district.
    Where is this office units located?
    The property is located at 116 Bull St Savannah, GA.
    What is the lease rate?
    The lease rate is $29 SF/Yr.
    What are key features of this property?
    This property features: Located in the heart of the historic business district.; Direct access to the office space from Bull Street.; Three retail tenants on the ground floor (barber shop, housewares, boutique).
    (912) 239-6298
    We can help!
    Listing Contact
    Ryan T. Schneider, CCIM
    Real Estate License ID: GA #157331
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    116 Bull St, Savannah, GA 31401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!