Three-Home Multifamily
For Sale
$625,000
124 Vidalia Rd, Savannah, GA 31419
A spacious acreage property with no HOA restrictions and multiple existing residences for flexible residential use.
Property Size4,913 SF
Price / SF$127.21
Days on Market19
Property Features for 124 Vidalia Rd
General Information
Standard status
Active
Size
4,913 SF
Property subtype
Multi-Family
Building Details
Year Built
1941
Listing Agency:
BHHS Bay Street Realty Group
Listed By:
David Shimp · License #414099
(812) 374-3721
Source:
Thehomesourcegroupga
Added: Aug 15
Changed: Aug 29
Last Checked: Sep 1 at 9:13PM
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 BHHS Bay Street Realty Group
Investment Insights
Based on property information with market context.
This 6.8-acre multifamily property includes three existing homes with distinct conditions and configurations. The residence at 138 contains 2 bedrooms and 1 bath, is described as well maintained, and has a new HVAC system. The home at 124 offers 3 bedrooms and 2 baths, along with a 1-year-old roof, but requires significant renovation. The residence at 130 may be salvageable.
No HOA restrictions are identified, and the property includes room for gardens, farm animals, workshops, equipment, or other residential-agricultural uses. Its scale and existing improvements may support multi-generational living, rental income potential, or a homestead setting. The property is approximately 25 minutes from downtown Savannah, Savannah/Hilton Head International Airport, and Richmond Hill.
No HOA restrictions are identified, and the property includes room for gardens, farm animals, workshops, equipment, or other residential-agricultural uses. Its scale and existing improvements may support multi-generational living, rental income potential, or a homestead setting. The property is approximately 25 minutes from downtown Savannah, Savannah/Hilton Head International Airport, and Richmond Hill.
Key Highlights
- 6.8‑acre residential agricultural property with three existing homes
- Residence at 138 includes 2 bedrooms, 1 bath, and a new HVAC system
- Home at 124 offers 3 bedrooms, 2 baths, and a 1‑year‑old roof
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
$48,309
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
7.73%
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%
$966,180
$966.2K
Cap Rate 7%
$690,129
$690.1K
Cap Rate 9%
$536,767
$536.8K
Market Conditions
NOI Build-Up for 4,913 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
$93.7K $19.08/SF
− Vacancy
−$5.9K −$1.20/SF
EGI
$87.8K $17.88/SF
− OpEx
−$39.5K −$8.05/SF
NOI
$48.3K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$966,180
Cap Rate 7%
$690,129
Cap Rate 9%
$536,767
Alternative Uses
Best Use
Apartment 5plus
$690.1K
$603.9K – $805.2K
NOI $48,309 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.59M
$4.02M – $5.36M
NOI $321,406 @ 7.0% cap · market cap 51.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 31419, GA
55,413
Population
24,862
Households
2.2
Avg Household Size
35
Median Age
34%
College-Educated
91%
High-School Grad
72.9 sq mi
ZIP Area
760
Density / Sq Mi
$70,734
Median Household Income
$35,804
Median Earnings
$1,344
Median Rent
$239,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - A spacious acreage property with no HOA restrictions and multiple existing residences for flexible residential use.
Where is this multifamily property located?
The property is located at 124 Vidalia Rd Savannah, GA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 6.8‑acre residential agricultural property with three existing homes; Residence at 138 includes 2 bedrooms, 1 bath, and a new HVAC system; Home at 124 offers 3 bedrooms, 2 baths, and a 1‑year‑old roof
