Mixed-Use Property with Rear
For Sale
$499,900
3 E Lathrop Avenue, Savannah, GA 31415
Residential Income, Savannah, GA
Property Size3,364 SF
Lot Size0.16 Acres
Price / SF$148.60
Days on Market23
Property Features for 3 E Lathrop Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
PBG
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 1
Parking features
Off Street
Appliances
Electric Water Heater
Directions
MLK to Bay St. West. left on Lathrop
Standard status
Active
APN
2001907023
Size
3,364 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 10 & PT OF LOTS 11 AND 12 MCLEOD WARD
Legal Description
LOT 10 & PT OF LOTS 11 AND 12 MCLEOD WARD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1943
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Eighteen O'Two Realty LLC
(912) 330-2998
Listed By:
Wynn Martin · License #374726
(912) 220-9806
Added: Sep 25
Changed: Oct 16
Last Checked: Oct 17 at 12:06AM
MLS# SA365314
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.
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Investment Insights
Based on property information with market context.
Built in 1943, this 3,364-square-foot brick property combines a ground-floor commercial space occupied by a restaurant with a residence on the level above. A separate short-term vacation rental unit sits at the rear. The upstairs residence is undergoing renovation and requires additional work.
The property occupies a 0.16-acre lot and is zoned PBG. Public water and sewer serve the site, with central electric heating and air conditioning. Off-street parking is available.
The property occupies a 0.16-acre lot and is zoned PBG. Public water and sewer serve the site, with central electric heating and air conditioning. Off-street parking is available.
Key Highlights
- Ground‑floor commercial space currently occupied by a restaurant
- Separate short‑term vacation rental unit at the rear
- Upstairs residence is mid‑renovation and needs additional work
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,091
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,820
$761.8K
Cap Rate 7%
$544,157
$544.2K
Cap Rate 9%
$423,233
$423.2K
Market Conditions
NOI Build-Up for 3,364 SF
Gross rent
$66.6K $19.80/SF
− Vacancy
−$5.7K −$1.68/SF
EGI
$60.9K $18.12/SF
− OpEx
−$22.9K −$6.79/SF
NOI
$38.1K $11.32/SF
Area
Savannah, GA
Vacancy
8.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,820
Cap Rate 7%
$544,157
Cap Rate 9%
$423,233
Alternative Uses
Best Use
Specialty Retail
$674.4K
$590.1K – $786.8K
NOI $47,208 @ 7.0% cap · market cap 9.44%
Second Best
Mixed Use
$544.2K
$476.1K – $634.9K
NOI $38,091 @ 7.0% cap · market cap 7.62%
Theoretical Best
Warehouse
$3.14M
$2.75M – $3.67M
NOI $220,071 @ 7.0% cap · market cap 44.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 31415, GA
11,034
Population
5,591
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
79%
High-School Grad
6.6 sq mi
ZIP Area
1,672
Density / Sq Mi
$37,890
Median Household Income
$28,229
Median Earnings
$973
Median Rent
$112,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor restaurant, an upstairs residence, and a detached short-term rental unit create three distinct components.
Where is this mixed-use property located?
The property is located at 3 E Lathrop Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Ground‑floor commercial space currently occupied by a restaurant; Separate short‑term vacation rental unit at the rear; Upstairs residence is mid‑renovation and needs additional work
