Three-Suite Office
For Sale
$849,000
1601 Whitaker, Savannah, GA 31401
The existing layout includes three suites, with two currently connected to form a larger interior area.
Property Size4,125 SF
Lot Size0.15 Acres
Price / SF$205.82
Days on Market38
Property Features for 1601 Whitaker
General Information
Standard status
Active
Size
4,125 SF
Lot size
0.15 Acres
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
The building needs work
Site & Location
Neighborhood
Metropolitan
Road Access
Yes
Additional Details
Condition
Needs Renovation
Land Use
office
Office Units
3
Property Use
Office
Amenities
Central air
Central Air Cooling
Electric Heating
Forced Air Heating
Heating Heating
Building Details
Year Built
1959
Buildings
1
Building Size
4,125 SF
Tenancy
Multi
Listing Agency:
AHR COMMERCIAL
Listed By:
BRENT SAPPE · License #420355
(478) 319-7254
Source:
Corcoran
Added: Sep 26
Changed: Nov 1
Last Checked: Nov 1 at 6:08AM
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 AHR COMMERCIAL
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Investment Insights
Based on property information with market context.
A 4,125-square-foot office building occupies a 6,660-square-foot lot at 1601 Whitaker. The property contains three suites; two are currently open to one another. Built in 1959, the building is identified as noncontributing within the Thomas Square Streetcar Historic District and is being sold as-is. The structure requires work, and the remarks identify renovation, reconfiguration, or redevelopment as possible approaches, subject to current zoning.
The property is on Whitaker Street in Savannah, along a southbound corridor. Starland District shops and restaurants, Forsyth Park, downtown, and SCAD are cited as nearby destinations.
The property is on Whitaker Street in Savannah, along a southbound corridor. Starland District shops and restaurants, Forsyth Park, downtown, and SCAD are cited as nearby destinations.
Key Highlights
- 4,125‑square‑foot office building on a 6,660‑square‑foot lot
- Three suites, with two currently connected internally
- Built in 1959; identified as noncontributing in the Thomas Square Streetcar Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,349
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,146,980
$1.1M
Cap Rate 7%
$819,271
$819.3K
Cap Rate 9%
$637,211
$637.2K
Market Conditions
NOI Build-Up for 4,125 SF
Gross rent
$91.6K $22.20/SF
− Vacancy
−$15.1K −$3.66/SF
EGI
$76.5K $18.54/SF
− OpEx
−$19.1K −$4.63/SF
NOI
$57.3K $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 Rate 5%
$1,146,980
Cap Rate 7%
$819,271
Cap Rate 9%
$637,211
Alternative Uses
Best Use
Office B
$819.3K
$716.9K – $955.8K
NOI $57,349 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.86M
$3.37M – $4.50M
NOI $269,856 @ 7.0% cap · market cap 31.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,757
Businesses Nearby
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Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Office building - The existing layout includes three suites, with two currently connected to form a larger interior area.
Where is this office building located?
The property is located at 1601 Whitaker Savannah, GA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 4,125‑square‑foot office building on a 6,660‑square‑foot lot; Three suites, with two currently connected internally; Built in 1959; identified as noncontributing in the Thomas Square Streetcar Historic District
