Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    321 Commercial Dr Savannah, GA 31406

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    One-room office suites available for rent on Commercial Drive.

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Joel Boblasky
    Joel Boblasky
    Source: Piercommercial

    Listing Agent: Joel Boblasky

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Drive Office Suites

    Office suites are available for rent. The property is located on Commercial Drive, situated between Hodgson Memorial Drive and Eisenhower Drive.
    Location Intelligence

    Current Use by Public Records

    MetLife Financial Advisor Savannah Veterans Center ... Community Center Chatham County Republican ... Advocacy Group Molly Cusick, BCST ... Alternative Medicine Practice

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.1078895
    Latitude
    32.0040336

    Nearby Similar for Lease

    • New
      $32 SF/Yr
      2,300 SF

      Savannah Commercial Space For Lease

      Two-story commercial property in Savannah's Streetcar District available for lease.
      422 W 43Rd St, Savannah, GA 31401
      View Details
    • New
      $1,225 /Mo
      1,000 SF

      Office Space in Midtown Savannah

      Office space for rent in midtown Savannah, Georgia.
      6815 Forest Park Dr, Savannah, GA 31406
      View Details
    • $2,000 /Mo
      521 SF

      Renovated Commercial Space Near Daffin Park

      Modern, renovated commercial space with high visibility and flexible zoning.
      1010 E Victory Dr, Savannah, GA 31405
      View Details
    • $3,000 /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
    • New
      $32 SF/Yr
      2,300 SF

      Savannah Commercial Space For Lease

      Two-story commercial building in Savannah's Streetcar District available for lease.
      422 W 43Rd St, Savannah, GA 31401
      View Details
    • New
      $3,200 /Mo
      1,350 SF

      Savannah Retail or Office Space

      Creative space in Savannah's Thomas Square Starland District.
      2323 Barnard St, Savannah, GA 31401
      View Details
    • New
      $4,300 /Mo
      1,740 SF

      Freestanding Commercial Building on Victory Drive

      1740 sqft commercial building with high visibility and frontage.
      3021 E Victory Dr, Savannah, GA 31404
      View Details
    • $1,000 /Mo
      664 SF

      Savannah Commercial Unit For Rent

      Commercial unit with reception, offices, storage, and half bath.
      7370 Hodgson Memorial Dr, Savannah, GA 31406
      View Details
    • $4,000 /Mo
      3,370 SF

      Waters Avenue Retail/Storage Opportunity

      Retail and storage buildings on high-traffic Waters Avenue.
      6228 Waters Avenue Ct, Savannah, GA 31406
      View Details
    • Contact for pricing
      1,020 SF

      Savannah Retail Space For Rent

      Prime retail space in Savannah's vibrant Starland District.
      15 W 43Rd St, Savannah, GA 31401
      View Details
    • $925 /Mo
      820 SF

      Office Space in Midtown Savannah

      Office space for rent in midtown Savannah, Georgia.
      6815 Forest Park Dr, Savannah, GA 31406
      View Details
    • $975 /Mo
      640 SF

      Savannah Office Space For Rent

      Ground floor office space in Southside business district.
      6811 Forest Park Dr, Savannah, GA 31406
      View Details

    FAQs

    What type of property is this?
    Office units - One-room office suites available for rent on Commercial Drive.
    Where is this office units located?
    The property is located at 321 Commercial Dr Savannah, GA.
    What are key features of this property?
    This property features: - Office suites available.; - Located on Commercial Drive.; - Situated between Hodgson Memorial Drive & Eisenhower.
    (912) 353-7707
    Request Owner's contact information
    321 Commercial Dr Savannah, GA 31406
    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.
    321 Commercial Dr
    Savannah, GA 31406
    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
    321 Commercial Dr Savannah, GA 31406
    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

    We can help!
    Listing Contact
    Joel Boblasky
    Joel Boblasky
    (912) 353-7707 (912) 239-6299
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!