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    Waterfront Land on Historic River Title is generated by Realmo AI

    2702 River Drive, Thunderbolt, GA 31404

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    Claim this Listing
    For Sale
    $1,100,000

    LAND - Thunderbolt, GA

    Lot size:
    0.80 Acres
    Added:
    Dec 4, 2025
    Days on Market:
    169
    Last Refresh:
    May 22 at 1:06 pm

    Property Features for 2702 River Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    River D
    Standard status
    Active
    APN
    3-0004-07-002
    Lot size
    0.80 Acres

    Taxes and HOA fees

    Tax Description
    N Pt Lot A Sub Doyle EST Thunderbolt

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    River Access
    Water front
    1

    We can help!

    Listing Contact
    Jessica L. Kelly
    Jessica L. Kelly

    Listing agent Jessica L. Kelly License #270287

    Listing office Engel & Volkers 1650 E Victory Drive, Savannah, GA

    Listing date Dec 4, 2025

    MLS# SA341150 Listing URL

    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.

    HighLights

    • Rare, large waterfront property (.8 acres) on the Intracoastal Waterway.
    • Exceptional opportunity for development or private waterfront estate.
    • Located in Thunderbolt's River Drive Mixed Use District, allowing flexible development options.
    • Ideally located on Historic River Drive, minutes from Savannah.
    • Existing earthen causeway/dike extending to the water.
    • Utilities available: Electricity, Public Water, and Public Sewer.

    Overview

    This waterfront parcel offers views of the Intracoastal Waterway. The property includes approximately 0.8 acres of high ground (0.7265 acres to survey tie line) and presents an opportunity for development or for creating a private waterfront estate. Located on Historic River Drive in Thunderbolt, it is situated minutes from Savannah. An existing earthen causeway/dike extends to the water and previously supported a dock. The site is located within Thunderbolt's River Drive Mixed Use District, providing flexibility for single family, multi family, or mixed use development. River Drive is considered the town's main street, and the maritime heritage and waterfront character of this corridor guide applicable development standards and design guidelines. This property is one of the largest remaining riverfront tracts in the area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thunderbolt
    County
    Chatham
    State
    Georgia
    Longitude
    -81.04893
    Latitude
    32.03312

    Nearby Similar for Sale

    • $1,100,000

      Waterfront Land on Historic River

      Exceptional waterfront land parcel for development or private estate.
      2702 River Drive, Thunderbolt, GA 31404
      View Details
    • $1,400,000
      3,200 SF

      Historic Church Converted to Residence

      1902 church transformed into a 4-bedroom luxury residence.
      2716 Mechanics Avenue, Thunderbolt, GA 31404
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    • $135,000

      Vacant Land in Thunderbolt, GA

      Two adjacent vacant parcels in Thunderbolt, near Savannah State University.
      0 Fish Bait Trail/ Two Lots One Great Price!, Thunderbolt, GA 31404
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    FAQs

    What type of property is this?
    Commercial land - Rare waterfront land parcel for development or private estate.
    Where is this commercial land located?
    The property is located at 2702 River Drive Thunderbolt, GA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Rare, large waterfront property (.8 acres) on the Intracoastal Waterway.; Exceptional opportunity for development or private waterfront estate.; Located in Thunderbolt's River Drive Mixed Use District, allowing flexible development options.
    (912) 441-9101
    We can help!
    Listing Contact
    Jessica L. Kelly
    Jessica L. Kelly
    Real Estate License ID: 270287
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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