Listing Agency: Parker Scott Properties m**@parkerscottproperties.com Show Phone

Listed By: Michelle Parker · License #276851 Show Phone

Source: Exprealty

Added: Nov 6, 2024 Changed: Aug 10 Last Checked: Aug 12 at 2:28PM

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Investment Insights

Based on property information with market context.

This cold shell retail space is delivered as a starting point for a tenant buildout, with quotes in place to bring the unit to a “vanilla shell” condition. The layout supports flexible occupancy, with an option to take the full 2,162 SF or lease half for a smaller footprint.

Located within new construction multi-family development on Pennsylvania Avenue and positioned for high-traffic exposure, the site is intended to support walk-in and pass-by demand generated by the surrounding residential use and roadway traffic.

The flexibility to lease either the full space or a half-space configuration can help retail operators match their program to their needs while keeping initial scope tied to a cold/vanilla shell delivery. Leasing terms are negotiable, and the current condition and staged shell approach are well suited for tenants planning interior improvements to fit their concept.

Key Highlights

• Cold shell retail space in new construction multi‑family
• Option to lease the full 2,162 SF or half space for flexible configuration
• Quotes in place to bring the space to vanilla shell condition

Property Analytics

Property Profile

Current Use

Classy Lynne Travels Law Firm Savannah Gardens Apartment Complex Savannah Law Firm Humble Wanda Clothing & Fashion Store

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$2.70 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

599

Businesses Nearby

168k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 54% Groceries 17% Shops & Services 13% Apparel 10%

Kroger Groceries

28,003 visits/mo 0.3 miles

McDonald's Dining

22,586 visits/mo 0.0 miles

Starbucks Dining

20,296 visits/mo 0.5 miles

Taco Bell Dining

14,310 visits/mo 0.4 miles

Kroger Fuel Center Shops & Services

11,885 visits/mo 0.2 miles

Demographics for 31404, GA

31,530

Population

14,427

Households

2.2

Avg Household Size

35

Median Age

28%

College-Educated

89%

High-School Grad

13.7 sq mi

ZIP Area

2,301

Density / Sq Mi

$49,805

Median Household Income

$31,620

Median Earnings

$1,199

Median Rent

$193,100

Median Home Value

Market

Lease Benchmarks for Savannah, GA

$24.06 /SF/Yr

Avg Asking Price

$8.5–$47 /SF/Yr

Price Range

5,855 SF

Avg Space Size

This space is priced 25% below the average of $24.06 /SF/Yr.

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Cold shell retail opportunity in new multi-family construction with flexible options for full or half space.

Where is this retail space located?

The property is located at 514 Pennsylvania Ave Savannah, GA.

What is the lease rate?

The lease rate is $18 SF/Yr.

What are key features of this property?

This property features: Cold shell retail space in new construction multi‑family; Option to lease the full 2,162 SF or half space for flexible configuration; Quotes in place to bring the space to vanilla shell condition