Brick Retail Storefront with
For Sale
$350,000
153 Main St, Savannah, GA 31408
Brick storefront with a separate-meter 400-square-foot garage, across from Georgia Ports Authority, with ample parking.
Property Size980 SF
Price / SF$357.14
Days on Market191
Property Features for 153 Main St
General Information
Standard status
Active
Size
980 SF
Listing Agency:
Mitchell & Associates Inc REAL
(912) 572-7223
Listed By:
Vicki C. Mitchell · License #11575
(912) 572-7223
Source:
Exprealty
Added: Feb 7
Changed: Aug 14
Last Checked: Aug 16 at 1:21PM
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 Mitchell & Associates Inc REAL
Investment Insights
Based on property information with market context.
This brick building was most recently operated as a hairdresser shop for approximately 40 years and is being sold as-is. The property includes a garage of about 400 square feet with its own separate meter, which may support additional income potential depending on the buyer’s intended use.
The storefront is situated with plenty of parking, and it is located across the street from the Georgia Ports Authority. Prospective buyers should plan for an in-person walkthrough to assess the building’s current condition and the garage’s configuration for their specific needs.
For tenants or owners seeking a small retail or service-oriented location, the property offers a straightforward storefront setup with an attached garage component that could be repurposed within the buyer’s strategy. Because the sale is being conducted “as is,” due diligence should focus on verifying building systems, metering, and overall condition before closing.
The storefront is situated with plenty of parking, and it is located across the street from the Georgia Ports Authority. Prospective buyers should plan for an in-person walkthrough to assess the building’s current condition and the garage’s configuration for their specific needs.
For tenants or owners seeking a small retail or service-oriented location, the property offers a straightforward storefront setup with an attached garage component that could be repurposed within the buyer’s strategy. Because the sale is being conducted “as is,” due diligence should focus on verifying building systems, metering, and overall condition before closing.
Key Highlights
- Brick storefront previously used as a hairdresser shop for 40 years
- Includes a 400‑square‑foot garage with its own separate meter and potential for extra income
- Plenty of on‑site parking
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
$11,125
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
3.18%
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%
$222,500
$222.5K
Cap Rate 7%
$158,929
$158.9K
Cap Rate 9%
$123,611
$123.6K
Market Conditions
NOI Build-Up for 980 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
$17.1K $17.40/SF
− Vacancy
−$1.2K −$1.18/SF
EGI
$15.9K $16.22/SF
− OpEx
−$4.8K −$4.87/SF
NOI
$11.1K $11.35/SF
Area
Savannah, GA
Vacancy
6.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$222,500
Cap Rate 7%
$158,929
Cap Rate 9%
$123,611
Alternative Uses
Best Use
Retail
$158.9K
$139.1K – $185.4K
NOI $11,125 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$915.9K
$801.4K – $1.07M
NOI $64,111 @ 7.0% cap · market cap 18.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
39k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 20%
Apparel 18%
Dollar Tree
Shops & Services
9,005 visits/mo
0.3 miles
Roses Discount Store
Shops & Services
7,231 visits/mo
0.3 miles
Arby's
Dining
6,409 visits/mo
0.2 miles
Citi Trends
Apparel
5,998 visits/mo
0.3 miles
AutoZone
Shops & Services
3,515 visits/mo
0.2 miles
Demographics for 31408, GA
11,790
Population
4,529
Households
2.6
Avg Household Size
36
Median Age
13%
College-Educated
82%
High-School Grad
21.1 sq mi
ZIP Area
559
Density / Sq Mi
$40,109
Median Household Income
$30,667
Median Earnings
$1,080
Median Rent
$160,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick storefront with a separate-meter 400-square-foot garage, across from Georgia Ports Authority, with ample parking.
Where is this storefront property located?
The property is located at 153 Main St Savannah, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Brick storefront previously used as a hairdresser shop for 40 years; Includes a 400‑square‑foot garage with its own separate meter and potential for extra income; Plenty of on‑site parking
