Mixed-Use Property with
For Sale
$1,625,000
211B Johnny Mercer Boulevard, Savannah, GA 31410
Commercial zoning supports office, retail, and on-site mini-storage components.
Property Size10,232 SF
Price / SF$158.82
Days on Market431
Property Features for 211B Johnny Mercer Boulevard
General Information
Standard status
Active
Size
10,232 SF
Property subtype
Commercial
Zoning
BC
Taxes and HOA fees
Annual Taxes
$30,183
Building Details
Building Size
10,232 SF
Year Built
1969
Stories
1
Listing Agency:
eXp Realty LLC
(912) 313-2424
Listed By:
Harold Meyers · License #336390
(912) 313-2424
Source:
Frankerealproperties
Added: Jun 18, 2025
Changed: Aug 21
Last Checked: Aug 22 at 12:44PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial property contains 10,232 square feet and was built in 1969. The improvements include office or retail space together with an on-site mini-storage facility, creating a multi-component configuration within one property. BC zoning is in place.
The property is located on Wilmington Island at 211B Johnny Mercer Boulevard in Savannah, Georgia. Its combination of commercial space and storage facilities provides a range of existing property components for an owner-occupant or investor to evaluate.
The property is located on Wilmington Island at 211B Johnny Mercer Boulevard in Savannah, Georgia. Its combination of commercial space and storage facilities provides a range of existing property components for an owner-occupant or investor to evaluate.
Key Highlights
- 10,232‑square‑foot mixed‑use commercial property
- Office or retail space with an on‑site mini‑storage facility
- BC zoning
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
$142,253
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
8.75%
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%
$2,845,060
$2.8M
Cap Rate 7%
$2,032,186
$2.0M
Cap Rate 9%
$1,580,589
$1.6M
Market Conditions
NOI Build-Up for 10,232 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
$227.2K $22.20/SF
− Vacancy
−$37.5K −$3.66/SF
EGI
$189.7K $18.54/SF
− OpEx
−$47.4K −$4.63/SF
NOI
$142.3K $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%
$2,845,060
Cap Rate 7%
$2,032,186
Cap Rate 9%
$1,580,589
Alternative Uses
Best Use
Warehouse
$9.56M
$8.37M – $11.16M
NOI $669,373 @ 7.0% cap · market cap 41.19%
Second Best
Office B
$2.03M
$1.78M – $2.37M
NOI $142,253 @ 7.0% cap · market cap 8.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 31410, GA
23,782
Population
10,263
Households
2.3
Avg Household Size
45
Median Age
51%
College-Educated
98%
High-School Grad
22.6 sq mi
ZIP Area
1,052
Density / Sq Mi
$97,225
Median Household Income
$54,693
Median Earnings
$1,702
Median Rent
$367,700
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning supports office, retail, and on-site mini-storage components.
Where is this mixed-use property located?
The property is located at 211B Johnny Mercer Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 10,232‑square‑foot mixed‑use commercial property; Office or retail space with an on‑site mini‑storage facility; BC zoning
