Medical Office with Expansion
For Sale
$3,800,000
1615 E Montgomery, Savannah, GA 31406
Existing clinical areas are paired with an unfinished shell for additional space planning.
Property Size13,320 SF
Price / SF$285.29
Days on Market8
Property Features for 1615 E Montgomery
General Information
Standard status
Active
Size
13,320 SF
Property subtype
Commercial
Site & Location
Neighborhood
Mayfair
Road Access
Yes
Additional Details
Property Use
Medical Office
Building Details
Year Built
2004
Buildings
1
Building Size
13,320 SF
Listing Agency:
Realty One Group Inclusion
Listed By:
Matthew D. Lufburrow · License #327975
(912) 272-4700
Source:
Findnorthcarolinaproperties
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 28 at 8:52AM
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 Realty One Group Inclusion
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Investment Insights
Based on property information with market context.
Built in 2004, the 13,320-square-foot medical office includes 7,332 square feet of completed clinical space and a separate 5,988-square-foot unfinished shell. The finished area includes reception and waiting rooms, exam and specialty rooms, physician offices, administrative areas, and staff support space.
The property fronts E Montgomery in Savannah, with access to Truman Parkway and on-site parking. The unfinished shell was designed and constructed to meet surgical-center requirements in effect at that time; completion and current approvals would be required for surgical use.
The property fronts E Montgomery in Savannah, with access to Truman Parkway and on-site parking. The unfinished shell was designed and constructed to meet surgical-center requirements in effect at that time; completion and current approvals would be required for surgical use.
Key Highlights
- 13,320‑square‑foot medical office building, constructed in 2004
- 7,332 square feet of finished medical space and a separate 5,988‑square‑foot unfinished shell
- Reception and waiting areas, exam and specialty rooms, physician offices, administrative areas, and staff support space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$185,185
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,703,700
$3.7M
Cap Rate 7%
$2,645,500
$2.6M
Cap Rate 9%
$2,057,611
$2.1M
Market Conditions
NOI Build-Up for 13,320 SF
Gross rent
$295.7K $22.20/SF
− Vacancy
−$48.8K −$3.66/SF
EGI
$246.9K $18.54/SF
− OpEx
−$61.7K −$4.63/SF
NOI
$185.2K $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%
$3,703,700
Cap Rate 7%
$2,645,500
Cap Rate 9%
$2,057,611
Alternative Uses
Best Use
Office B
$2.65M
$2.31M – $3.09M
NOI $185,185 @ 7.0% cap · market cap 4.87%
Second Best
Healthcare Medical
$2.42M
$2.12M – $2.82M
NOI $169,247 @ 7.0% cap · market cap 4.45%
Theoretical Best
Warehouse
$12.45M
$10.89M – $14.52M
NOI $871,388 @ 7.0% cap · market cap 22.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Similar Off Market Nearby
- Billy Sanders, D.V.M. — 1201 E Montgomery Cross Rd, Savannah, GA 31406
- Crossroad Animal Hospital — 1201 E Montgomery Cross Rd, Savannah, GA 31406
- Melanie Bevere, DVM -- Crossroad Animal Hospital — 1201 E Montgomery Cross Rd, Savannah, GA 31406
- Allison Animal Care — 715 Mall Blvd, Savannah, GA 31406
- Dr. Sarah Duncan — 7702 Waters Ave, Savannah, GA 31406
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical areas are paired with an unfinished shell for additional space planning.
Where is this medical office space located?
The property is located at 1615 E Montgomery Savannah, GA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 13,320‑square‑foot medical office building, constructed in 2004; 7,332 square feet of finished medical space and a separate 5,988‑square‑foot unfinished shell; Reception and waiting areas, exam and specialty rooms, physician offices, administrative areas, and staff support space
