Brick Restaurant
For Sale
$340,000
2601 W Bay Street, Savannah, GA 31408
Commercial Sale, Savannah, GA
Property Size934 SF
Lot Size0.46 Acres
Price / SF$364.03
Days on Market44
Property Features for 2601 W Bay Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BH
Appliances
Gas Water Heater
Directions
West on Bay St to 2601 Bay st
Standard status
Active
APN
2002502001
Size
934 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LTS 112 THRU 117 CRICKARD WD JASPER SUMMITT
Tax Annual Amount
2805
Legal Description
LTS 112 THRU 117 CRICKARD WD JASPER SUMMITT
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1962
Floors in Building
1
Building materials
Brick
Listing Agency:
Rawls Realty
(912) 450-1800
Listed By:
Raleigh C. Taylor · License #356934
(478) 319-5322
Added: Jul 12
Changed: Aug 20
Last Checked: Aug 24 at 1:06PM
MLS# SA360220
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 conventional restaurant property includes a 934-square-foot building on 0.459 acres. Constructed in 1962, the improvements feature brick construction, a gas water heater, natural-gas central heating, and electric central air conditioning. The property is being offered in its existing as-is condition.
Public water and public sewer serve the site. The property carries BH zoning and is located at 2601 W Bay Street in Savannah, Georgia.
Public water and public sewer serve the site. The property carries BH zoning and is located at 2601 W Bay Street in Savannah, Georgia.
Key Highlights
- 934‑square‑foot restaurant building on 0.459 acres
- Brick construction dating to 1962
- BH zoning
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
$13,107
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
3.86%
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%
$262,140
$262.1K
Cap Rate 7%
$187,243
$187.2K
Cap Rate 9%
$145,633
$145.6K
Market Conditions
NOI Build-Up for 934 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
$18.5K $19.80/SF
− Vacancy
−$1.0K −$1.09/SF
EGI
$17.5K $18.71/SF
− OpEx
−$4.4K −$4.68/SF
NOI
$13.1K $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%
$262,140
Cap Rate 7%
$187,243
Cap Rate 9%
$145,633
Alternative Uses
Best Use
Specialty Retail
$187.2K
$163.8K – $218.5K
NOI $13,107 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$872.9K
$763.8K – $1.02M
NOI $61,102 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chevron
Shops & Services
6,283 visits/mo
0.2 miles
Demographics for 31408, GA
11,790
Population
4,529
Households
2.6
Avg Household Size
36
Median Age
13%
College-Educated
82%
High-School Grad
21.1 sq mi
ZIP Area
559
Density / Sq Mi
$40,109
Median Household Income
$30,667
Median Earnings
$1,080
Median Rent
$160,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chinatown Buffet — 309 US-80, Savannah, GA 31408
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant property offered as-is with central heating and cooling and public water and sewer.
Where is this conventional restaurant located?
The property is located at 2601 W Bay Street Savannah, GA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 934‑square‑foot restaurant building on 0.459 acres; Brick construction dating to 1962; BH zoning
