Freestanding Storefront With
For Sale
$1,088,000
2506 Barnard Street, Savannah, GA 31401
Commercial Sale, Savannah, GA
Property Size2,729 SF
Lot Size0.12 Acres
Price / SF$398.68
Days on Market1285
Property Features for 2506 Barnard Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
RIP
Security features
Security System
Appliances
Electric Water Heater
Directions
From Savannah's Historic District take Barnard south to 42nd St.
Standard status
Active
APN
2007406012
Size
2,729 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
K & L SUB 61 SOLOMON WD
Tax Annual Amount
2789
Legal Description
K & L SUB 61 SOLOMON WD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
off-street parking
Building Details
Year built
1970
Floors in Building
1
Building materials
Brick, Block
Listing Agency:
Parker Scott Properties
(912) 897-6320
Listed By:
Michelle Parker · License #276851
(912) 604-1197
Added: Mar 15, 2023
Changed: Sep 12
Last Checked: Sep 19 at 6:06AM
MLS# SA285485
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 freestanding storefront property at 2506 Barnard Street offers 2,729 square feet on a 0.124-acre parcel. The building includes multiple rooms and a dedicated area that was previously used as a recording studio, providing a distinct configuration for creative, professional, or commercial operations. Brick and block construction, central heating and cooling, public water, and public sewer serve the property. A recently installed roof and off-street parking are additional physical features.
The property is in Savannah’s Streetcar District, near Starland Yard and within one mile of Forsyth Park. The surrounding area includes dining, art, retail, residential properties, and SCAD housing. The building was constructed in 1970 and includes an electric water heater.
The property is in Savannah’s Streetcar District, near Starland Yard and within one mile of Forsyth Park. The surrounding area includes dining, art, retail, residential properties, and SCAD housing. The building was constructed in 1970 and includes an electric water heater.
Key Highlights
- 2,729‑square‑foot freestanding storefront building
- 0.124‑acre parcel at 2506 Barnard Street, Savannah, GA 31401
- Off‑street parking 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
$30,979
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
2.85%
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%
$619,580
$619.6K
Cap Rate 7%
$442,557
$442.6K
Cap Rate 9%
$344,211
$344.2K
Market Conditions
NOI Build-Up for 2,729 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
$47.5K $17.40/SF
− Vacancy
−$3.2K −$1.18/SF
EGI
$44.3K $16.22/SF
− OpEx
−$13.3K −$4.87/SF
NOI
$31.0K $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 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%
$619,580
Cap Rate 7%
$442,557
Cap Rate 9%
$344,211
Alternative Uses
Best Use
Retail
$442.6K
$387.2K – $516.3K
NOI $30,979 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.55M
$2.23M – $2.98M
NOI $178,530 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
52k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 31%
Beauty & Spa 10%
Electronics 2%
McDonald's
Dining
22,625 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
7,295 visits/mo
0.1 miles
Chevron
Shops & Services
7,083 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,380 visits/mo
0.3 miles
Sola Salon Studios
Beauty & Spa
5,104 visits/mo
0.2 miles
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible room layout with a dedicated former recording-studio area and off-street parking.
Where is this storefront property located?
The property is located at 2506 Barnard Street Savannah, GA.
What is the asking price?
The asking price for this property is $1,088,000.
What are key features of this property?
This property features: 2,729‑square‑foot freestanding storefront building; 0.124‑acre parcel at 2506 Barnard Street, Savannah, GA 31401; Off‑street parking included
