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    Savannah Historic District Multi-Family Property Title is generated by Realmo AI

    2 E Perry Lane, Savannah, GA 31401

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    For Sale
    $6,495,000

    MULTI_FAMILY - Other - Savannah, GA

    Property size:
    11,665 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $556/SF
    Added:
    Sep 7, 2025
    Days on Market:
    271
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 2 E Perry Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    D-CBD
    Bedrooms
    12
    Bathrooms
    12
    Rooms
    Bedroom 7, Bedroom 1, Bathroom 12, Bathroom 4, Basement, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 9, Bedroom 2, Bedroom 8, Bathroom 7, Bathroom 9, Bedroom 10, Bedroom 6, Bedroom 12, Bathroom 10, Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 11, Bathroom 5, Bedroom 3, Bedroom 11, Bathroom 8
    Parking features
    Open, Underground/Basement, Off Street
    Window features
    Double Pane Windows
    Interior features
    Fireplace, Programmable Thermostat
    Exterior features
    Balcony
    Fireplace
    1
    Appliances
    Some Electric Appliances, Some Gas Appliances, Cooktop, Dryer, Dishwasher, Electric Water Heater, Disposal, Microwave, Oven, Range, Refrigerator, Range Hood, Washer
    Standard status
    Active
    APN
    Various
    Size
    11,665 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Description
    2 EAST PERRY LANE CONDOMINIUM CPB 1-144

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1904
    Floors in Building
    4
    Number of units
    3
    Flooring type
    Hardwood, Marble, Tile
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Staci M. Donegan
    Staci M. Donegan

    Listing agent Staci M. Donegan License #345816

    Listing office Seabolt Real Estate 24 E Oglethorpe Avenue, Savannah, GA

    Listing date Sep 7, 2025

    MLS# SA339196 Listing URL

    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.

    HighLights

    • Prime location in Savannah's National Historic Landmark District overlooking Chippewa Square.
    • Three active STVR permits in place, providing exceptional income potential.
    • Three fully furnished, newly renovated, move‑in‑ready condos.
    • Penthouse unit features 5 BR/5.5 BA, private atrium, and massive rooftop deck with panoramic views.
    • Elevator access to all floors and secure underground parking garage.
    • Historic c. 1904 Romanesque Revival‑influenced building, formerly the T.A. Bryson Packard Motor Car Company showroom.

    Overview

    Located in the heart of Savannah's National Historic Landmark District, this multi-family property presents a rare opportunity. The property features three luxurious, newly renovated, fully furnished condos, ready for immediate occupancy. These turnkey units are situated in a quiet, historic building dating back to approximately 1904, showcasing Romanesque Revival influences and overlooking Chippewa Square. The property benefits from three active Short Term Vacation Rental (STVR) permits, offering income potential and flexibility. The penthouse, spanning two stories, includes 5 bedrooms and 5.5 bathrooms, a private atrium, and a large rooftop deck with panoramic views of Savannah. The second floor houses a 4-bedroom, 3-bathroom condo with views of Chippewa Square, along with a 3-bedroom, 3-bathroom unit featuring a covered veranda. All units are professionally decorated and offer elevator access to all floors, as well as a secure underground parking garage. The property is located in the former T.A. Bryson Packard Motor Car Company showroom building, situated steps from downtown Savannah. The lot size is 0.06 acres, and the property size is 11,665 square feet. The zoning is D-CBD.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Spa & Massage Center Real Estate Agency Dental Office Hair Salon Restaurant Nail Salon Building Supply Law Firm Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.092901
    Latitude
    32.075204

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    FAQs

    What type of property is this?
    Short term rental property - Luxurious, renovated condos in Savannah's Landmark District with STVR permits.
    Where is this short term rental property located?
    The property is located at 2 E Perry Lane Savannah, GA.
    What is the asking price?
    The asking price for this property is $6,495,000.
    What are key features of this property?
    This property features: Prime location in Savannah's National Historic Landmark District overlooking Chippewa Square.; Three active STVR permits in place, providing exceptional income potential.; Three fully furnished, newly renovated, move‑in‑ready condos.
    (912) 247-2052
    We can help!
    Listing Contact
    Staci M. Donegan
    Staci M. Donegan
    Real Estate License ID: 345816
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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