Historic Downtown Savannah Commercial
For Sale
Contact for pricing
215 E River Street, Savannah, GA 31401
6,202 SF commercial space in Historic Downtown Savannah for sale.
Property Size11,800 SF
Price / SF$0.01
Days on Market262
Property Features for 215 E River Street
General Information
Standard status
Active
Size
11,800 SF
Class
B
Property subtype
Office
Lease Term
NNN
Building Details
Building Size
11,800 SF
Year Built
1860
Properties For Sale
at 215 E River Street Contact us2nd Floor
Size
1,266 SF
Type
Mixed Use
Term
Negotiable
3rd Floor
Size
2,537 SF
Type
Mixed Use
Term
Negotiable
4th Floor
Size
2,399 SF
Type
Mixed Use
Term
Negotiable
Listing Agency:
SVN GASC | Hilton Head Island
Listed By:
Adam Bryant, CCIM, SIOR · License #GA #279255
(912) 667-2740
Source:
Svn
Added: Jan 27
Changed: Oct 15
Last Checked: Oct 14 at 9:00PM
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 SVN GASC | Hilton Head Island
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Investment Insights
Based on property information with market context.
Located in Historic Downtown Savannah, Georgia, 215 E River Street presents a commercial opportunity in a high-traffic area. Constructed in 1860 as a cotton warehouse, the property offers approximately 6,202 square feet for sale across three floors (2nd, 3rd, and 4th). The building provides access from Bay Street, Factors Walk, and River Street. The property is located on Bay Street near the Lincoln Street Ramp of River Street. The D-W (Downtown Waterfront) zoning allows for a variety of commercial uses, including general retail and restaurants. The area benefits from a strong tourism base, with over 9.7 million overnight visitors spending more than $4.4 billion annually, with visitors staying just under an average of 3 days. The historic district and River Street are pedestrian-friendly, offering shopping and dining experiences. Planned residential developments are expected to provide "live, work, play" opportunities. There are a number of parking opportunities located within the immediate vicinity.
Key Highlights
- Prime location on River Street in Historic Downtown Savannah with access from Bay Street, Factors Walk, and River Street.
- Located in an area with a strong tourism base.
- ±6,202 SF of varied space across 3 floors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,951
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,679,020
$2.7M
Cap Rate 7%
$1,913,586
$1.9M
Cap Rate 9%
$1,488,344
$1.5M
Market Conditions
NOI Build-Up for 11,800 SF
Gross rent
$205.3K $17.40/SF
− Vacancy
−$14.0K −$1.18/SF
EGI
$191.4K $16.22/SF
− OpEx
−$57.4K −$4.87/SF
NOI
$134.0K $11.35/SF
Area
Savannah, GA
Vacancy
6.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,679,020
Cap Rate 7%
$1,913,586
Cap Rate 9%
$1,488,344
Alternative Uses
Best Use
Office B
$2.34M
$2.05M – $2.73M
NOI $164,052 @ 7.0% cap · market cap 273,420.00%
Second Best
Retail
$1.91M
$1.67M – $2.23M
NOI $133,951 @ 7.0% cap · market cap 223,251.67%
Theoretical Best
Warehouse
$11.03M
$9.65M – $12.87M
NOI $771,951 @ 7.0% cap · market cap 1,286,585.00%
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
3,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Office units - 6,202 SF commercial space in Historic Downtown Savannah for sale.
Where is this office units located?
The property is located at 215 E River Street Savannah, GA.
What are key features of this property?
This property features: Prime location on River Street in Historic Downtown Savannah with access from Bay Street, Factors Walk, and River Street.; Located in an area with a strong tourism base.; ±6,202 SF of varied space across 3 floors.
