Brick Storefront with
For Sale
Under Contract
$350,000
153 Main Street, Savannah, GA 31408
Commercial Sale, Savannah, GA
Property Size980 SF
Lot Size0.30 Acres
Price / SF$357.14
Days on Market219
Property Features for 153 Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C1
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bathroom 1
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater
Directions
West on Highway 21 turn on Brampton Road and then left on Main Street. Property across from fire department
Standard status
Active Under Contract
APN
6001005001
Size
980 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT OF TCT 1 RESUB OF 35 IND CITY GDNS
Tax Annual Amount
1801
Legal Description
PT OF TCT 1 RESUB OF 35 IND CITY GDNS
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Window Unit(s), Electric, Heat Pump
Water source
Public
Building Details
Year built
1947
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Bungalow
Listing Agency:
Mitchell & Associates Inc REAL
(912) 232-0000
Listed By:
Vicki C. Mitchell · License #11575
(912) 572-7223
Added: Feb 6
Changed: Sep 13
Last Checked: Sep 13 at 8:06PM
MLS# SA348570
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 980-square-foot brick storefront is configured as a compact commercial building with a separate 400-square-foot garage. The garage has its own electric meter, while the main building includes carpet and vinyl flooring, a bathroom, electric heat pump systems, window-unit cooling, and an accessible approach with ramp. The property is being sold as-is and has a bungalow-style design dating to 1947.
The site contains 0.3 acres at 153 Main Street in Savannah, with the Georgia Ports Authority located across the street. Public water and public sewer serve the property, and on-site parking is provided. C1 zoning and the building’s storefront configuration support its commercial positioning, while the property’s prior long-term use as a hairdresser shop provides established context for the space.
The site contains 0.3 acres at 153 Main Street in Savannah, with the Georgia Ports Authority located across the street. Public water and public sewer serve the property, and on-site parking is provided. C1 zoning and the building’s storefront configuration support its commercial positioning, while the property’s prior long-term use as a hairdresser shop provides established context for the space.
Key Highlights
- 980‑square‑foot brick storefront on a 0.3‑acre site
- Separate 400‑square‑foot garage with its own meter
- C1 zoning with public water and public sewer
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - C1-zoned brick storefront with separate-meter garage, public utilities, parking, and ramp access.
Where is this storefront property located?
The property is located at 153 Main Street 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 on a 0.3‑acre site; Separate 400‑square‑foot garage with its own meter; C1 zoning with public water and public sewer
