Mixed-Use Property with
For Sale
$499,900
3 E Lathrop Avenue, Savannah, GA 31415
Commercial Sale, 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
Commercial Sale
Property subtype
Retail
Zoning
PBG
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 1
Exterior features
Fence
Fencing
Fenced
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
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 1:06AM
MLS# SA365442
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.
The brick property includes 3,364 square feet on a 0.16-acre lot. A restaurant occupies the ground-floor commercial space, with a residence on the second floor and a separate short-term rental unit at the rear. The upper residence is being renovated and requires additional work.
Built in 1943, the property has PBG zoning, public water and public sewer, and a fenced exterior.
Built in 1943, the property has PBG zoning, public water and public sewer, and a fenced exterior.
Key Highlights
- Ground‑floor commercial space is currently rented to a restaurant
- Separate short‑term rental unit at the rear
- Second‑floor 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
Lease Details
Multi-tenant
Tenancy
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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Cap Rate, Value Estimation, Potential NOI and more
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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 residence occupies the upper floor, with a separate short-term rental unit at the rear.
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 is currently rented to a restaurant; Separate short‑term rental unit at the rear; Second‑floor residence is mid‑renovation and needs additional work
