Four-Unit Property with
For Sale
$850,000
2310 Whitaker St, Savannah, GA 31401
Four residences include a mix of vacant and occupied units, fenced outdoor areas, covered porches, balconies, and rear parking.
Property Size3,408 SF
Price / SF$249.41
Days on Market40
Property Features for 2310 Whitaker St
General Information
Standard status
Active
Size
3,408 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Amenities
covered front porches
private balconies
fenced
Building Details
Year Built
1900
Listing Agency:
LPT Realty LLC
(501) 580-1503
Listed By:
Benjamin Sawyer · License #442604
Source:
Barefootbrokers
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 30 at 8:17PM
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 LPT Realty LLC
Investment Insights
Based on property information with market context.
Built in 1900, this four-unit property at 2310 Whitaker St includes two front residences that are vacant and two occupied units positioned at the rear. The unit mix comprises a 3-bedroom, 1-bath residence; a 2-bedroom, 1-bath residence; a 1-bedroom, 1-bath residence; and another 2-bedroom, 1-bath residence. Front and rear sections are fenced, while the lower units have covered front porches and the upper units offer private balconies. One parking space is available behind the property.
The property is in Savannah’s Starland District, near Starland Yard, Two Tides Brewing Co., Graveface Records & Curiosities, restaurants, coffee shops, galleries, and other local businesses. Photos depict the two vacant front units.
The property is in Savannah’s Starland District, near Starland Yard, Two Tides Brewing Co., Graveface Records & Curiosities, restaurants, coffee shops, galleries, and other local businesses. Photos depict the two vacant front units.
Key Highlights
- Four‑unit property with two vacant front units and two occupied rear units
- Unit mix includes 3‑bedroom, 2‑bedroom, 1‑bedroom, and 2‑bedroom residences
- Each residence includes 1 bath
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
$36,135
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
4.25%
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%
$722,700
$722.7K
Cap Rate 7%
$516,214
$516.2K
Cap Rate 9%
$401,500
$401.5K
Market Conditions
NOI Build-Up for 3,408 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
$55.2K $16.20/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$51.6K $15.15/SF
− OpEx
−$15.5K −$4.54/SF
NOI
$36.1K $10.60/SF
Area
Savannah, GA
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$722,700
Cap Rate 7%
$516,214
Cap Rate 9%
$401,500
Alternative Uses
Best Use
Multifamily LT 5
$516.2K
$451.7K – $602.3K
NOI $36,135 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$478.7K
$418.9K – $558.5K
NOI $33,510 @ 7.0% cap · market cap 3.94%
Theoretical Best
Warehouse
$3.18M
$2.79M – $3.72M
NOI $222,950 @ 7.0% cap · market cap 26.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,490
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences include a mix of vacant and occupied units, fenced outdoor areas, covered porches, balconies, and rear parking.
Where is this quadplex located?
The property is located at 2310 Whitaker St Savannah, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit property with two vacant front units and two occupied rear units; Unit mix includes 3‑bedroom, 2‑bedroom, 1‑bedroom, and 2‑bedroom residences; Each residence includes 1 bath
