Flex Space With
For Sale
$1,500,000
2015 Mills B Lane Boulevard, Savannah, GA 31405
Light industrial property combining office suites with warehouse space and convenient access to Savannah-area destinations.
Property Size8,500 SF
Price / SF$176.47
Days on Market886
Property Features for 2015 Mills B Lane Boulevard
General Information
Standard status
Active
Size
8,500 SF
Property subtype
Commercial
Zoning
I-L-R
Site & Location
Neighborhood
Tremont Park
Taxes and HOA fees
Annual Taxes
$4,968
Amenities
Concrete
No
1
Yes
No Common Walls
Assessor
High Ceilings
Public
0.521
Asphalt,Paved
Slab
Public Maintained Road
Building Details
Building Size
8,500 SF
Year Built
1977
Buildings
1
Stories
1
Listing Agency:
Re/Max Savannah
(912) 355-7711
Listed By:
Holly S. Young · License #168533
(912) 667-2537
Source:
Baystreetrealtygroup
Added: May 29, 2024
Changed: Oct 29
Last Checked: Oct 30 at 12:00PM
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 Re/Max Savannah
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1977, this 8,500-square-foot flex property combines five offices with a substantial warehouse area. The building is zoned IL-R (Light Industrial Restricted), supporting its industrial-oriented configuration.
The property is located at 2015 Mills B Lane Boulevard in Savannah, near Ogeechee Road and Lynes Parkway, with access toward downtown Savannah, Garden City, and the Georgia Ports Authority. It is currently occupied by a tenant without an active lease, and vacancy requires 60 days’ notice.
The property is located at 2015 Mills B Lane Boulevard in Savannah, near Ogeechee Road and Lynes Parkway, with access toward downtown Savannah, Garden City, and the Georgia Ports Authority. It is currently occupied by a tenant without an active lease, and vacancy requires 60 days’ notice.
Key Highlights
- 8,500‑square‑foot flex building constructed in 1977
- Five offices paired with a spacious warehouse area
- Zoned IL‑R (Light Industrial Restricted)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,578
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,551,560
$2.6M
Cap Rate 7%
$1,822,543
$1.8M
Cap Rate 9%
$1,417,533
$1.4M
Market Conditions
NOI Build-Up for 8,500 SF
Gross rent
$219.3K $25.80/SF
− Vacancy
−$23.0K −$2.71/SF
EGI
$196.3K $23.09/SF
− OpEx
−$68.7K −$8.08/SF
NOI
$127.6K $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 Rate 5%
$2,551,560
Cap Rate 7%
$1,822,543
Cap Rate 9%
$1,417,533
Alternative Uses
Best Use
Warehouse
$7.94M
$6.95M – $9.27M
NOI $556,066 @ 7.0% cap · market cap 37.07%
Second Best
Industrial
$6.54M
$5.72M – $7.63M
NOI $457,937 @ 7.0% cap · market cap 30.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Savannah, GA
Similar Off Market Nearby
- Cape Creations Catering — 114 Horizon Park Dr, Savannah, GA 31405
Frequently Asked Questions
What type of property is this?
Flex space - Light industrial property combining office suites with warehouse space and convenient access to Savannah-area destinations.
Where is this flex space located?
The property is located at 2015 Mills B Lane Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,500‑square‑foot flex building constructed in 1977; Five offices paired with a spacious warehouse area; Zoned IL‑R (Light Industrial Restricted)
