Renovated Mixed-Use
For Sale
$599,900
22 E 37th St, Savannah, GA 31401
TN-2 zoning supports first-floor creative, office, and neighborhood commercial uses.
Property Size1,920 SF
Price / SF$312.45
Days on Market81
Property Features for 22 E 37th St
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
TN-2
Building Details
Year Built
1900
Listing Agency:
Engel & Volkers
Listed By:
Jessica L. Kelly · License #270287
(912) 441-9101
Source:
Southeastgahomesearch
Added: Aug 3
Changed: Oct 2
Last Checked: Oct 20 at 10:27PM
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 Engel & Volkers
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Investment Insights
Based on property information with market context.
Built in 1900, this two-level mixed-use property combines updated commercial space with a 2-bedroom, 1-bath apartment upstairs. The first floor is approved for artist studio, gallery, creative workspace, professional office, and other neighborhood commercial uses. Renovations include a new roof, HVAC systems, electrical service, plumbing, flooring, lighting, kitchens, and baths while retaining historic character. Exterior work added a rear deck, reinforced stairs and railings, refreshed siding, landscaping, and fencing. Off-street parking accommodates up to three vehicles.
The property is located at 22 E 37th Street in Savannah’s Thomas Square District, across from Common Thread and Elizabeth on 37th. SCAD, coffee shops, boutiques, and other neighborhood amenities are within walking distance, with the Starland neighborhood and Bull Street Corridor nearby. TN-2 zoning provides a documented framework for mixed-use, multifamily, and neighborhood commercial activity.
The property is located at 22 E 37th Street in Savannah’s Thomas Square District, across from Common Thread and Elizabeth on 37th. SCAD, coffee shops, boutiques, and other neighborhood amenities are within walking distance, with the Starland neighborhood and Bull Street Corridor nearby. TN-2 zoning provides a documented framework for mixed-use, multifamily, and neighborhood commercial activity.
Key Highlights
- TN‑2 zoning with approved first‑floor artist studio, gallery, creative workspace, office, and neighborhood commercial uses
- Upper‑level 2‑bedroom, 1‑bath apartment
- Built in 1900 with extensive system and interior renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,693
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,860
$533.9K
Cap Rate 7%
$381,329
$381.3K
Cap Rate 9%
$296,589
$296.6K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$42.6K $22.20/SF
− Vacancy
−$7.0K −$3.66/SF
EGI
$35.6K $18.54/SF
− OpEx
−$8.9K −$4.63/SF
NOI
$26.7K $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%
$533,860
Cap Rate 7%
$381,329
Cap Rate 9%
$296,589
Alternative Uses
Best Use
Office B
$381.3K
$333.7K – $444.9K
NOI $26,693 @ 7.0% cap · market cap 4.45%
Second Best
Mixed Use
$310.6K
$271.8K – $362.3K
NOI $21,740 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,606 @ 7.0% cap · market cap 20.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,650
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Mixed-use property - TN-2 zoning supports first-floor creative, office, and neighborhood commercial uses.
Where is this mixed-use property located?
The property is located at 22 E 37th St Savannah, GA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: TN‑2 zoning with approved first‑floor artist studio, gallery, creative workspace, office, and neighborhood commercial uses; Upper‑level 2‑bedroom, 1‑bath apartment; Built in 1900 with extensive system and interior renovations
