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Building Details

Year Built 1947

Listing Agency: Mitchell & Associates Inc REAL

Listed By: Vicki C. Mitchell · License #11575 Show Phone

Source: Barefootbrokers

Added: Jul 25 Changed: Oct 14 Last Checked: Oct 7 at 2:57PM

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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.

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 / Yr

$11,125

Cap Rate

3.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$222,500 $222.5K

Cap Rate 7%

$158,929 $158.9K

Cap Rate 9%

$123,611 $123.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 980 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $64,111 @ 7.0% cap · market cap 18.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Electrical Service Bakery (Bike/Boat/Book/etc) Store

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

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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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