Brick Storefront with
For Sale
$350,000
153 Main St, Savannah, GA 31408
Brick retail building with on-site parking and a separately metered garage across from the Georgia Ports Authority.
Property Size980 SF
Price / SF$357.14
Days on Market38
Property Features for 153 Main St
General Information
Standard status
Active
Size
980 SF
Building Details
Year Built
1947
Listing Agency:
Mitchell & Associates Inc REAL
(912) 572-7223
Listed By:
Vicki C. Mitchell · License #11575
Source:
Barefootbrokers
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 30 at 7:24PM
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 storefront property contains 980 square feet and was built in 1947. The building served as a hairdresser shop for 40 years and is offered in its current as-is condition. A 400 square foot garage with a separate electrical meter is included, along with on-site parking.
The property is located at 153 Main St in Savannah, directly across from the Georgia Ports Authority. The combination of a storefront, supplemental garage space, parking, and port-adjacent setting provides a straightforward commercial configuration for review by prospective owners or users.
The property is located at 153 Main St in Savannah, directly across from the Georgia Ports Authority. The combination of a storefront, supplemental garage space, parking, and port-adjacent setting provides a straightforward commercial configuration for review by prospective owners or users.
Key Highlights
- 980‑square‑foot brick storefront building
- 400 square foot garage with its own separate meter
- On‑site parking included
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
223
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 40%
McDonald's
Dining
18,538 visits/mo
0.5 miles
Wells Fargo
Shops & Services
5,696 visits/mo
0.5 miles
Truist
Shops & Services
3,811 visits/mo
0.4 miles
Sunoco
Shops & Services
2,958 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 retail building with on-site parking and a separately metered garage across from the Georgia Ports Authority.
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: 980‑square‑foot brick storefront building; 400 square foot garage with its own separate meter; On‑site parking included
