All-Brick Mixed-Use
For Sale
$699,000
1910 Martin Luther King Jr Boulevard, Savannah, GA 31401
All-brick building with street-level commercial space and a private 1-bedroom, 1-bath apartment upstairs.
Property Size1,908 SF
Price / SF$366.35
Days on Market243
Property Features for 1910 Martin Luther King Jr Boulevard
General Information
Standard status
Active
Size
1,908 SF
Property subtype
Commercial
Zoning
BC
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,714
Amenities
No
1
Yes
2
Assessor
Chain Link
Public
0.235
Asphalt
Building Details
Building Size
1,908 SF
Year Built
1930
Stories
2
Construction
brick
Listing Agency:
CGP Realty
(912) 233-6000
Listed By:
Leila Khalidi
(912) 507-9379
Source:
Baystreetrealtygroup
Added: Jan 7
Changed: Sep 6
Last Checked: Sep 7 at 5:27AM
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 CGP Realty
Investment Insights
Based on property information with market context.
This all-brick mixed-use building combines street-level commercial space with a private residential unit above. The property includes an upstairs 1-bedroom, 1-bath apartment, offering an owner-occupant setup or the option to generate rental income while maintaining a commercial presence downstairs. The commercial portion was formerly used as a barbershop, supporting a flexible storefront or office buildout depending on the next user’s requirements.
Located at 1910 Martin Luther King Jr. Blvd in Downtown Savannah, the building sits along a highly visible, well-traveled corridor described in the remarks. The downtown setting is intended to provide straightforward access to area businesses and major roads.
With the ability to live upstairs and work downstairs, or lease both levels, this property is positioned as a mixed-use option for buyers seeking a single building with both commercial and residential components.
Located at 1910 Martin Luther King Jr. Blvd in Downtown Savannah, the building sits along a highly visible, well-traveled corridor described in the remarks. The downtown setting is intended to provide straightforward access to area businesses and major roads.
With the ability to live upstairs and work downstairs, or lease both levels, this property is positioned as a mixed-use option for buyers seeking a single building with both commercial and residential components.
Key Highlights
- All‑brick commercial building with street‑level commercial space and a private 1‑bedroom, 1‑bath apartment upstairs
- Located at 1910 Martin Luther King Jr. Blvd in Downtown Savannah, with in‑city lot location
- Year built: 1930
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
$26,526
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
3.79%
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%
$530,520
$530.5K
Cap Rate 7%
$378,943
$378.9K
Cap Rate 9%
$294,733
$294.7K
Market Conditions
NOI Build-Up for 1,908 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
$42.4K $22.20/SF
− Vacancy
−$7.0K −$3.66/SF
EGI
$35.4K $18.54/SF
− OpEx
−$8.8K −$4.63/SF
NOI
$26.5K $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%
$530,520
Cap Rate 7%
$378,943
Cap Rate 9%
$294,733
Alternative Uses
Best Use
Office B
$378.9K
$331.6K – $442.1K
NOI $26,526 @ 7.0% cap · market cap 3.79%
Second Best
Retail
$309.4K
$270.7K – $361.0K
NOI $21,659 @ 7.0% cap · market cap 3.10%
Theoretical Best
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,820 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,691
Businesses Nearby
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
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - All-brick building with street-level commercial space and a private 1-bedroom, 1-bath apartment upstairs.
Where is this live-work space located?
The property is located at 1910 Martin Luther King Jr Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: All‑brick commercial building with street‑level commercial space and a private 1‑bedroom, 1‑bath apartment upstairs; Located at 1910 Martin Luther King Jr. Blvd in Downtown Savannah, with in‑city lot location; Year built: 1930
