Industrial Property Near Savannah
For Sale
$1,500,000
2015 Mills B Lane Blvd, Savannah, GA 31405
8500 sq ft industrial building near Savannah and Garden City.
Property Size8,500 SF
Price / SF$176.47
Days on Market205
Property Features for 2015 Mills B Lane Blvd
General Information
Standard status
Active
Size
8,500 SF
Building Details
Year Built
1977
Listing Agency:
RE/MAX Savannah
Listed By:
Holly Young · License #168533
(912) 748-7778
Source:
Jetsetrealty
Added: Mar 26
Changed: Oct 12
Last Checked: Oct 5 at 7:46PM
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 RE/MAX Savannah
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Investment Insights
Based on property information with market context.
This 8500 sq ft property is zoned ILR (Light Industrial Restricted) and features a location near Ogeechee Road and Lynes Parkway. Its location offers proximity to downtown Savannah, Garden City, and the Georgia Ports Authority. The building includes 5 offices and a large warehouse space. The property is tenant-occupied, with a 60-day notice required for the tenant to vacate.
Key Highlights
- Zoned ILR (Light Industrial Restricted) offering versatile usage options.
- Strategic location near Ogeechee Road and Lynes Parkway.
- Close proximity to downtown Savannah, Garden City, and Georgia Ports Authority.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,173
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,363,460
$2.4M
Cap Rate 7%
$1,688,186
$1.7M
Cap Rate 9%
$1,313,033
$1.3M
Market Conditions
NOI Build-Up for 8,500 SF
Gross rent
$188.7K $22.20/SF
− Vacancy
−$31.1K −$3.66/SF
EGI
$157.6K $18.54/SF
− OpEx
−$39.4K −$4.63/SF
NOI
$118.2K $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 Rate 5%
$2,363,460
Cap Rate 7%
$1,688,186
Cap Rate 9%
$1,313,033
Alternative Uses
Best Use
Warehouse
$7.94M
$6.95M – $9.27M
NOI $556,066 @ 7.0% cap · market cap 37.07%
Second Best
Industrial
$6.54M
$5.72M – $7.63M
NOI $457,937 @ 7.0% cap · market cap 30.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Savannah, GA
Similar Off Market Nearby
- American Moving & Storage, LLC — 101 Kahn Industrial Ct, Savannah, GA 31405
- Secure Storage Center — 3825A Ogeechee Rd, Savannah, GA 31405
- Savannah Elite Car Storage — 3825 Ogeechee Rd, Savannah, GA 31405
- U-Haul Moving & Storage of Savannah Ogeechee — 3802 ogeechee rd, savannah, ga 31405
- Self-Storage at U-Haul — 3802 Ogeechee Rd, Savannah, GA 31405
Frequently Asked Questions
What type of property is this?
Warehouse - 8500 sq ft industrial building near Savannah and Garden City.
Where is this warehouse located?
The property is located at 2015 Mills B Lane Blvd Savannah, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Zoned ILR (Light Industrial Restricted) offering versatile usage options.; Strategic location near Ogeechee Road and Lynes Parkway.; Close proximity to downtown Savannah, Garden City, and Georgia Ports Authority.
