Brick Mixed-Use
For Sale
$699,000
1910 Martin Luther King Jr Boulevard, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size1,908 SF
Lot Size0.24 Acres
Price / SF$366.35
Days on Market250
Property Features for 1910 Martin Luther King Jr Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BC
Bedrooms
1
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1, Bedroom 1
Fencing
Chain Link
Appliances
Gas Water Heater, Oven, Refrigerator
Directions
37 street to MLK. Make left property on right
Standard status
Active
APN
2006643008
Size
1,908 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PTS OF LOTS 3 & 4 DUNCAN WD
Tax Annual Amount
3714
Legal Description
PTS OF LOTS 3 & 4 DUNCAN WD
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air, Gas (Cooling)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Building materials
Brick
Roof type
Composition
Listing Agency:
Re/Max 1st Choice Realty
(912) 826-1000
Listed By:
Tara M. Robinson · License #302905
(912) 713-6648
Added: Jan 6
Changed: Sep 12
Last Checked: Sep 13 at 11:06PM
MLS# SA346306
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.
Investment Insights
Based on property information with market context.
This 1,908-square-foot mixed-use property combines a commercial area with a private one-bedroom, one-bath apartment above. Built in 1930, the building features brick construction, a composition roof, chain-link fencing, and public water and sewer service. Interior systems include central heating, central air, natural gas, and electric cooling. The apartment includes an oven, refrigerator, and gas water heater.
Located at 1910 Martin Luther King Jr Boulevard in Savannah, the property sits within a highly traveled commercial corridor near local businesses and major roads. BC zoning is in place. The configuration supports a range of commercial applications identified for the property, including retail, office, salon, or studio use, while the upstairs residence provides a separate living component.
Located at 1910 Martin Luther King Jr Boulevard in Savannah, the property sits within a highly traveled commercial corridor near local businesses and major roads. BC zoning is in place. The configuration supports a range of commercial applications identified for the property, including retail, office, salon, or studio use, while the upstairs residence provides a separate living component.
Key Highlights
- 1,908‑square‑foot mixed‑use building with commercial space and a private apartment
- 0.235‑acre property at 1910 Martin Luther King Jr Boulevard, Savannah, GA 31401
- Private 1 bedroom, 1 bathroom apartment above the commercial area
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
$21,659
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
3.10%
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%
$433,180
$433.2K
Cap Rate 7%
$309,414
$309.4K
Cap Rate 9%
$240,656
$240.7K
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
$33.2K $17.40/SF
− Vacancy
−$2.3K −$1.18/SF
EGI
$30.9K $16.22/SF
− OpEx
−$9.3K −$4.87/SF
NOI
$21.7K $11.35/SF
Area
Savannah, GA
Vacancy
6.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$433,180
Cap Rate 7%
$309,414
Cap Rate 9%
$240,656
Alternative Uses
Best Use
Retail
$309.4K
$270.7K – $361.0K
NOI $21,659 @ 7.0% cap · market cap 3.10%
Second Best
Mixed Use
$308.6K
$270.1K – $360.1K
NOI $21,605 @ 7.0% cap · market cap 3.09%
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
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,691
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Beauty & Spa 52%
Shops & Services 37%
Electronics 11%
Sola Salon Studios
Beauty & Spa
5,104 visits/mo
0.4 miles
Woof Gang Bakery
Shops & Services
3,097 visits/mo
0.3 miles
Cricket Wireless Authorized Retailer
Electronics
1,041 visits/mo
0.1 miles
Stars & Stripes Llc
Shops & Services
555 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with a private one-bedroom, one-bath apartment.
Where is this mixed-use property 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: 1,908‑square‑foot mixed‑use building with commercial space and a private apartment; 0.235‑acre property at 1910 Martin Luther King Jr Boulevard, Savannah, GA 31401; Private 1 bedroom, 1 bathroom apartment above the commercial area
