Dollar General Grocery
For Sale
Contact for pricing
1920 East President Street, Savannah, GA 31404
NN-leased grocery property with BC zoning and an established operating history.
Property Size9,026 SF
Price / SF$182.81
Days on Market12
Property Features for 1920 East President Street
General Information
Standard status
Active
Size
9,026 SF
Total Parking Spaces
36
Property subtype
Retail
Zoning
BC (Community business)
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$105,197
Building Details
Year Built
2012
Buildings
1
Tenancy
Single
Listing Agency:
Blacktide Real Estate Advisors
Listed By:
Mike Powers · License #443440
Source:
Crexi
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 22 at 4:58AM
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 Blacktide Real Estate Advisors
Investment Insights
Based on property information with market context.
This 9,026-square-foot grocery and convenience property at 1920 East President Street was developed as a build-to-suit for Dollar General and completed in 2012. The building operates under an NN lease, providing an established single-tenant retail configuration.
The property is zoned BC (Community business) and is located in Savannah, Georgia. The current lease term extends through 7/31/2027, with a tenant option dated January 8th, 2027. These lease milestones are central considerations for evaluating the property's remaining term and future occupancy status.
The property is zoned BC (Community business) and is located in Savannah, Georgia. The current lease term extends through 7/31/2027, with a tenant option dated January 8th, 2027. These lease milestones are central considerations for evaluating the property's remaining term and future occupancy status.
Key Highlights
- 9,026 SF grocery and convenience property
- Developed as a Dollar General build‑to‑suit in 2012
- NN lease with current term through 7/31/2027
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
$126,664
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
7.68%
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%
$2,533,280
$2.5M
Cap Rate 7%
$1,809,486
$1.8M
Cap Rate 9%
$1,407,378
$1.4M
Market Conditions
NOI Build-Up for 9,026 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
$178.7K $19.80/SF
− Vacancy
−$9.8K −$1.09/SF
EGI
$168.9K $18.71/SF
− OpEx
−$42.2K −$4.68/SF
NOI
$126.7K $14.03/SF
Area
Savannah, GA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$2,533,280
Cap Rate 7%
$1,809,486
Cap Rate 9%
$1,407,378
Alternative Uses
Best Use
Specialty Retail
$1.81M
$1.58M – $2.11M
NOI $126,664 @ 7.0% cap · market cap 7.68%
Second Best
Retail
$1.46M
$1.28M – $1.71M
NOI $102,461 @ 7.0% cap · market cap 6.21%
Theoretical Best
Warehouse
$8.44M
$7.38M – $9.84M
NOI $590,477 @ 7.0% cap · market cap 35.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Parker's Kitchen
Shops & Services
13,498 visits/mo
0.1 miles
Waffle House
Dining
8,820 visits/mo
0.1 miles
Dollar General
Shops & Services
8,479 visits/mo
0.1 miles
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NN-leased grocery property with BC zoning and an established operating history.
Where is this grocery and convenience store located?
The property is located at 1920 East President Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 9,026 SF grocery and convenience property; Developed as a Dollar General build‑to‑suit in 2012; NN lease with current term through 7/31/2027
