Corner-Lot Triplex with
For Sale
$749,000
1902 Barnard St, Savannah, GA 31401
TN-2-zoned property with two leased units, flexible rental options, and updated major building systems.
Property Size5,217 SF
Price / SF$143.57
Days on Market81
Property Features for 1902 Barnard St
General Information
Standard status
Active
Size
5,217 SF
Property subtype
Multi-Family
Zoning
TN-2
Additional Details
Multifamily Units
3
Amenities
front porch
private balcony
courtyard
Building Details
Year Built
1906
Buildings
1
Listing Agency:
McIntosh Realty Team LLC
Listed By:
Sarah Sullivan · License #419783
(912) 346-7109
Source:
Barefootbrokers
Added: Jul 28
Changed: Oct 13
Last Checked: Oct 7 at 3:06PM
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 McIntosh Realty Team LLC
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Investment Insights
Based on property information with market context.
Built in 1906, this 5,217-square-foot triplex occupies a corner lot and includes three residential units, two of which are currently leased. The property retains historic character through soaring ceilings, hardwood floors, and abundant natural light, while newer HVAC systems, a newer roof, and porch improvements address key building components. Outdoor features include a front porch, private balcony, and courtyard.
The property is located at 1902 Barnard St in Savannah’s Thomas Square/Starland District, near Forsyth Park, SCAD, Foxy Loxy Café, and the Starland dining and shopping district. TN-2 zoning supports owner-occupied short-term vacation rental use, long-term rental use, and a variety of commercial uses, as stated in the property information.
The property is located at 1902 Barnard St in Savannah’s Thomas Square/Starland District, near Forsyth Park, SCAD, Foxy Loxy Café, and the Starland dining and shopping district. TN-2 zoning supports owner-occupied short-term vacation rental use, long-term rental use, and a variety of commercial uses, as stated in the property information.
Key Highlights
- 5,217‑square‑foot triplex on a corner lot
- Three units with two currently leased
- TN‑2 zoning supports STVR, long‑term rental, and commercial uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,315
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,106,300
$1.1M
Cap Rate 7%
$790,214
$790.2K
Cap Rate 9%
$614,611
$614.6K
Market Conditions
NOI Build-Up for 5,217 SF
Gross rent
$84.5K $16.20/SF
− Vacancy
−$5.5K −$1.05/SF
EGI
$79.0K $15.15/SF
− OpEx
−$23.7K −$4.54/SF
NOI
$55.3K $10.60/SF
Area
Savannah, GA
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,106,300
Cap Rate 7%
$790,214
Cap Rate 9%
$614,611
Alternative Uses
Best Use
Multifamily LT 5
$790.2K
$691.4K – $921.9K
NOI $55,315 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$732.8K
$641.2K – $855.0K
NOI $51,298 @ 7.0% cap · market cap 6.85%
Theoretical Best
Warehouse
$4.88M
$4.27M – $5.69M
NOI $341,294 @ 7.0% cap · market cap 45.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - TN-2-zoned property with two leased units, flexible rental options, and updated major building systems.
Where is this triplex located?
The property is located at 1902 Barnard St Savannah, GA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 5,217‑square‑foot triplex on a corner lot; Three units with two currently leased; TN‑2 zoning supports STVR, long‑term rental, and commercial uses
