Mixed-Use Property with
For Sale
$950,000
2312 Abercorn Street, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size2,474 SF
Lot Size0.06 Acres
Price / SF$383.99
Days on Market52
Property Features for 2312 Abercorn Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
TC 1
Zoning description
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Appliances
Electric Water Heater, Some Commercial Grade
Directions
From Victory Drive, take Abercorn Street heading North (Downtown). Building is on the right as you pass the Railway line.
Standard status
Active
APN
2006537004
Size
2,474 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 21 BLOCK 6 GRIFFIN WD PRB 16P 76
Tax Annual Amount
2973
Legal Description
LOT 21 BLOCK 6 GRIFFIN WD PRB 16P 76
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Electric, Heat Pump
Water source
Public
Building Details
Year built
1990
Floors in Building
1
Building materials
Frame, Stucco
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Kenneth J. Richards · License #345362
(912) 429-6278
Added: Jul 3
Changed: Aug 20
Last Checked: Aug 23 at 6:06AM
MLS# SA359663
Copyright © 2026 Hive MLS. 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 mixed-use property includes a restaurant area renovated in 2023 along with two upstairs office/retail units. The upper-level units are occupied by long-term tenants under month-to-month leases, providing an established rental component within the property. The building contains 2,474 square feet on a 0.06-acre lot and was constructed in 1990.
Located at 2312 Abercorn Street in Savannah, Georgia, the property is within the Starland/Thomas Square District. It carries TC 1 zoning and is served by public water and public sewer. Construction includes frame and stucco materials, with electric heat pump systems for heating and cooling.
Located at 2312 Abercorn Street in Savannah, Georgia, the property is within the Starland/Thomas Square District. It carries TC 1 zoning and is served by public water and public sewer. Construction includes frame and stucco materials, with electric heat pump systems for heating and cooling.
Key Highlights
- Restaurant area renovated in 2023
- Two upstairs office/retail units
- Both upper‑level units occupied by long‑term tenants on month‑to‑month leases
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 area complements two upstairs office/retail units with existing month-to-month tenancy.
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: Restaurant area renovated in 2023; Two upstairs office/retail units; Both upper‑level units occupied by long‑term tenants on month‑to‑month leases
