Mixed-Use Property with
For Sale
$950,000
2312 Abercorn Street, Savannah, GA 31401
Renovated restaurant space combines with two occupied upstairs office and retail units.
Property Size2,474 SF
Days on Market59
Property Features for 2312 Abercorn Street
General Information
Standard status
Active
Size
2,474 SF
Property subtype
Commercial
Zoning
TC 1, Commercial
Occupancy
100%
Additional Details
Floor
Upstairs
Office Units
2
Building Details
Building Size
2,474 SF
Year Built
1990
Year Renovated
2023
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Seabolt Real Estate
(912) 429-6278
Listed By:
Kenneth J. Richards · License #345362
(912) 429-6278
Source:
Thomasrealtysold
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 23 at 3:01AM
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 Seabolt Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property at 2312 Abercorn St in Savannah, Georgia, contains 2,474 square feet and was built in 1990. The commercial layout includes a restaurant area renovated in 2023, along with two office and retail units on the upper level.
Both upstairs units are occupied by long-term tenants under month-to-month leases, providing rental income while preserving future leasing flexibility. The property is located in Savannah’s Starland/Thomas Square District and combines an established restaurant component with additional commercial space.
Both upstairs units are occupied by long-term tenants under month-to-month leases, providing rental income while preserving future leasing flexibility. The property is located in Savannah’s Starland/Thomas Square District and combines an established restaurant component with additional commercial space.
Key Highlights
- 2,474‑square‑foot mixed‑use property at 2312 Abercorn St, Savannah, GA 31401
- Restaurant space underwent extensive renovation in 2023
- Two upstairs office/retail units included
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
$34,718
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
3.65%
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%
$694,360
$694.4K
Cap Rate 7%
$495,971
$496.0K
Cap Rate 9%
$385,756
$385.8K
Market Conditions
NOI Build-Up for 2,474 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
$49.0K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.3K $18.71/SF
− OpEx
−$11.6K −$4.68/SF
NOI
$34.7K $14.03/SF
Area
Savannah, GA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$694,360
Cap Rate 7%
$495,971
Cap Rate 9%
$385,756
Alternative Uses
Best Use
Specialty Retail
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 3.65%
Second Best
Office B
$491.4K
$429.9K – $573.3K
NOI $34,395 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$2.31M
$2.02M – $2.70M
NOI $161,848 @ 7.0% cap · market cap 17.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,507
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 Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated restaurant space combines with two occupied upstairs office and retail units.
Where is this mixed-use property located?
The property is located at 2312 Abercorn Street Savannah, GA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,474‑square‑foot mixed‑use property at 2312 Abercorn St, Savannah, GA 31401; Restaurant space underwent extensive renovation in 2023; Two upstairs office/retail units included
