Government-Leased Office
For Sale
$6,857,442
139 Southern Blvd, Savannah, GA 31405
Purpose-built federal office facility with specialized command, storage, and interagency coordination areas.
Property Size16,211 SF
Lot Size9.12 Acres
Price / SF$423.01
Days on Market110
Property Features for 139 Southern Blvd
General Information
Standard status
Active
Size
16,211 SF
Lot size
9.12 Acres
Property subtype
Office
Occupancy
100%
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Dallas
(972) 759-7814
Listed By:
Geoff Ficke · License #593051
(972) 759-7814
Source:
Colliers
Added: May 14
Changed: Aug 29
Last Checked: Aug 31 at 12:52PM
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 Dallas
Investment Insights
Based on property information with market context.
The property is a purpose-built 16,211-square-foot office facility at 139 Southern Boulevard in Savannah. Constructed in 2007, it is fully leased to U.S. Customs & Border Protection and includes a command center, secure storage areas, and spaces designed for interagency coordination. CBP has occupied the facility continuously since construction and completed a five-year lease renewal in September 2025.
The site contains 9.12 total acres, while the current lease requires 3.89 acres. The remaining 5.23-acre parcel provides separately identified land area associated with the property. The facility is positioned within Savannah’s port corridor, near the Port of Savannah, dual Class I rail lines, and Savannah/Hilton Head International Airport. The federal tenant carries an AA+ credit rating, and the lease includes contractual rent growth and CPI-based expense reimbursements.
The site contains 9.12 total acres, while the current lease requires 3.89 acres. The remaining 5.23-acre parcel provides separately identified land area associated with the property. The facility is positioned within Savannah’s port corridor, near the Port of Savannah, dual Class I rail lines, and Savannah/Hilton Head International Airport. The federal tenant carries an AA+ credit rating, and the lease includes contractual rent growth and CPI-based expense reimbursements.
Key Highlights
- 16,211‑square‑foot purpose‑built office facility constructed in 2007
- 100% leased to U.S. Customs & Border Protection
- Five‑year lease renewal completed in September 2025
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
$225,377
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
3.29%
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%
$4,507,540
$4.5M
Cap Rate 7%
$3,219,671
$3.2M
Cap Rate 9%
$2,504,189
$2.5M
Market Conditions
NOI Build-Up for 16,211 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
$359.9K $22.20/SF
− Vacancy
−$59.4K −$3.66/SF
EGI
$300.5K $18.54/SF
− OpEx
−$75.1K −$4.63/SF
NOI
$225.4K $13.90/SF
Area
Savannah, GA
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$4,507,540
Cap Rate 7%
$3,219,671
Cap Rate 9%
$2,504,189
Alternative Uses
Best Use
Office B
$3.22M
$2.82M – $3.76M
NOI $225,377 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$15.15M
$13.26M – $17.68M
NOI $1,060,516 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
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
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Purpose-built federal office facility with specialized command, storage, and interagency coordination areas.
Where is this office building located?
The property is located at 139 Southern Blvd Savannah, GA.
What is the asking price?
The asking price for this property is $6,857,442.
What are key features of this property?
This property features: 16,211‑square‑foot purpose‑built office facility constructed in 2007; 100% leased to U.S. Customs & Border Protection; Five‑year lease renewal completed in September 2025
