Assisted Living Facility with Brick
For Sale
$349,900
213 Chippewa Drive, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size2,072 SF
Lot Size0.29 Acres
Price / SF$168.87
Days on Market143
Property Features for 213 Chippewa Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
From Interstate 95, take Exit 94 onto Abercorn Street toward Savannah, continue south, turn left onto Chippewa Drive, and follow it to 213 Chippewa Drive.
Standard status
Active
APN
20531 01022
Size
2,072 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
5262
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Building materials
Brick
Listing Agency:
eXp Realty
(888) 959-9461
Listed By:
Kadeem Simon · License #434023
(912) 415-1520
Added: May 1
Changed: Aug 19
Last Checked: Sep 20 at 12:06AM
MLS# 10763815
Copyright © 2026 Georgia Multiple Listing Service. 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 assisted living facility encompasses 2,072 square feet on a 0.29-acre parcel and is currently utilized as a personal care home. The interior includes multiple resident rooms, common areas, kitchen space, and a configuration arranged for care-based residential use. Brick construction, central heating, and central air are in place.
The property is located at 213 Chippewa Drive in Savannah, Georgia 31406. Public water and public sewer serve the site. The structure was built in 1958, providing an existing facility framework for continued personal care home operations or evaluation for another supported care-related use.
The property is located at 213 Chippewa Drive in Savannah, Georgia 31406. Public water and public sewer serve the site. The structure was built in 1958, providing an existing facility framework for continued personal care home operations or evaluation for another supported care-related use.
Key Highlights
- 2,072‑square‑foot assisted living facility on a 0.29‑acre parcel
- Currently utilized as a personal care home
- Multiple resident rooms, common areas, and kitchen space
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
$20,374
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
5.82%
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%
$407,480
$407.5K
Cap Rate 7%
$291,057
$291.1K
Cap Rate 9%
$226,378
$226.4K
Market Conditions
NOI Build-Up for 2,072 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
$39.5K $19.08/SF
− Vacancy
−$2.5K −$1.20/SF
EGI
$37.0K $17.88/SF
− OpEx
−$16.7K −$8.05/SF
NOI
$20.4K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$407,480
Cap Rate 7%
$291,057
Cap Rate 9%
$226,378
Alternative Uses
Best Use
Apartment 5plus
$291.1K
$254.7K – $339.6K
NOI $20,374 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.94M
$1.69M – $2.26M
NOI $135,549 @ 7.0% cap · market cap 38.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,995
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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- Shady Lane Personal Care Inc — 7505 Waters Ave, Savannah, GA 31406
- 4Front Healthcare of Savannah — 7505 Waters Ave F8, Savannah, GA 31406
Frequently Asked Questions
What type of property is this?
Assisted living facility - Existing personal care home layout includes resident rooms, shared areas, and dedicated kitchen space.
Where is this assisted living facility located?
The property is located at 213 Chippewa Drive Savannah, GA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,072‑square‑foot assisted living facility on a 0.29‑acre parcel; Currently utilized as a personal care home; Multiple resident rooms, common areas, and kitchen space
