Two-Story Storefront
For Sale
$1,200,000
17 41st St St, Savannah, GA 31401
The two-story property includes central air, electric service, and TN-2 zoning.
Property Size3,623 SF
Price / SF$331.22
Days on Market31
Property Features for 17 41st St St
General Information
Standard status
Active
Size
3,623 SF
Building Details
Year Built
1900
Listing Agency:
Seabolt Real Estate
Listed By:
Beth L. Vantosh · License #248541
(912) 234-7887
Source:
Barefootbrokers
Added: Aug 21
Changed: Sep 12
Last Checked: Sep 19 at 10:40AM
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 Seabolt Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this two-story storefront building contains approximately 3,623 square feet on a 0.09-acre parcel. The property has a documented history of retail, office, and studio use, with central air and electric service. Exterior features include a paved driveway, sidewalks, street lighting, and paved road access; no parking is provided on site.
The building occupies the corner of W. 41st Street and Whitaker Street in Savannah’s Starland Dairy District. The surrounding area includes Starland Yard, restaurants, retail businesses, and creative enterprises, with a walkable commercial setting. TN-2 zoning and the existing storefront configuration support consideration of the property for a range of commercial uses, subject to applicable requirements.
The building occupies the corner of W. 41st Street and Whitaker Street in Savannah’s Starland Dairy District. The surrounding area includes Starland Yard, restaurants, retail businesses, and creative enterprises, with a walkable commercial setting. TN-2 zoning and the existing storefront configuration support consideration of the property for a range of commercial uses, subject to applicable requirements.
Key Highlights
- Approximately 3,623 SF two‑story building on a 0.09‑acre parcel
- TN‑2 zoning
- Corner location at W. 41st Street and Whitaker Street
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
$50,370
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
4.20%
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%
$1,007,400
$1.0M
Cap Rate 7%
$719,571
$719.6K
Cap Rate 9%
$559,667
$559.7K
Market Conditions
NOI Build-Up for 3,623 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
$80.4K $22.20/SF
− Vacancy
−$13.3K −$3.66/SF
EGI
$67.2K $18.54/SF
− OpEx
−$16.8K −$4.63/SF
NOI
$50.4K $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 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%
$1,007,400
Cap Rate 7%
$719,571
Cap Rate 9%
$559,667
Alternative Uses
Best Use
Office B
$719.6K
$629.6K – $839.5K
NOI $50,370 @ 7.0% cap · market cap 4.20%
Second Best
Retail
$587.5K
$514.1K – $685.5K
NOI $41,127 @ 7.0% cap · market cap 3.43%
Theoretical Best
Warehouse
$3.39M
$2.96M – $3.95M
NOI $237,015 @ 7.0% cap · market cap 19.75%
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
1,263
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Check the figures for this property
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?
Storefront property - The two-story property includes central air, electric service, and TN-2 zoning.
Where is this storefront property located?
The property is located at 17 41st St St Savannah, GA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 3,623 SF two‑story building on a 0.09‑acre parcel; TN‑2 zoning; Corner location at W. 41st Street and Whitaker Street
