Medical Office with Expansion
New
For Sale
$3,800,000
1615 E Montgomery, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size13,320 SF
Lot Size1.81 Acres
Price / SF$285.29
Days on Market5
Property Features for 1615 E Montgomery
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
BN1
Parking
75
Appliances
Electric Water Heater
Directions
Located on the south side of E Montgomerry Crossroads between Waters and Sallie Mood Drive
Standard status
Active
APN
1047707024
Size
13,320 SF
Lot size
1.81 Acres
Additional Details
Property Use
Medical Office
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 92 SUB LOTS 1 AND 2 CREST HILL FARMS PRB 28P 92 1.813 AC
Tax Annual Amount
38299
Legal Description
LOT 92 SUB LOTS 1 AND 2 CREST HILL FARMS PRB 28P 92 1.813 AC
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Building materials
Brick
Buildings
1
Listing Agency:
Realty One Group Inclusion
(912) 298-7200
Listed By:
Matthew D. Lufburrow · License #327975
(912) 272-4700
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 25 at 2:06AM
MLS# SA366997
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.
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Investment Insights
Based on property information with market context.
Set on 1.813 acres, this 13,320-square-foot brick medical office was built in 2004. The property includes 7,332 square feet of finished space and a separate 5,988-square-foot unfinished shell. The completed area contains reception and waiting rooms, exam and specialty rooms, physician offices, administrative areas, and staff support space. The shell requires completion and current approvals before surgical use; the seller says it was constructed to meet surgical-center requirements in effect at the time.
The property fronts Montgomery Crossroads and offers on-site parking, with access to Truman Parkway. Public water and sewer serve the site, and the zoning designation is BN1. Heating and cooling are provided by central systems.
The property fronts Montgomery Crossroads and offers on-site parking, with access to Truman Parkway. Public water and sewer serve the site, and the zoning designation is BN1. Heating and cooling are provided by central systems.
Key Highlights
- 13,320‑square‑foot building on 1.813 acres
- 7,332 square feet of finished medical space plus a 5,988‑square‑foot unfinished shell
- Reception, waiting, exam, specialty, physician office, administrative, and staff support areas
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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Savannah, GA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical rooms and a separate unfinished area provide distinct spaces for current operations and future 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 building on 1.813 acres; 7,332 square feet of finished medical space plus a 5,988‑square‑foot unfinished shell; Reception, waiting, exam, specialty, physician office, administrative, and staff support areas
