Seven-Unit Retail Shopping
For Sale
$3,200,000
302 W Victory Drive, Savannah, GA 31405
Commercial Sale, Savannah, GA
Property Size11,543 SF
Lot Size0.27 Acres
Price / SF$277.22
Days on Market140
Property Features for 302 W Victory Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street, Parking Lot
Lot features
City Lot
Directions
From Downtown Savannah: Head west on Bay Street, turn left onto MLK Blvd. Turn right onto Victory Drive and go 2 miles west; your destination is on the right. From Southside Savannah: Head north on Abercorn Street, turn left onto Victory Drive. Drive 3 miles west; your destination is on the left.
Standard status
Active
APN
20074 21014
Size
11,543 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
18654
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1948
Building materials
Stucco
Listing Agency:
Parker Scott Properties
(912) 897-6320
Listed By:
Michelle Parker · License #276851
(912) 604-1197
Added: May 21
Changed: Sep 12
Last Checked: Oct 7 at 10:06AM
MLS# 10769227
Copyright © 2026 Georgia Multiple Listing Service. 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.
Built in 1948, this 11,543-square-foot shopping center contains seven retail units arranged across ground-level and second-level spaces. The 0.265-acre property is constructed with stucco and includes 11 off-street parking spaces, additional on-street parking, and pylon signage along Victory Drive. Central electric heating and cooling serve the building, with public water, public sewer, and water available listed among the utilities.
The property is located at 302 W Victory Drive in Savannah’s Starland District, directly across from the Savannah College of Art and Design Victory Village dormitory complex. The surrounding corridor includes bars, restaurants, and boutique shopping, while approximately 20,000 vehicles pass the site daily.
The property is located at 302 W Victory Drive in Savannah’s Starland District, directly across from the Savannah College of Art and Design Victory Village dormitory complex. The surrounding corridor includes bars, restaurants, and boutique shopping, while approximately 20,000 vehicles pass the site daily.
Key Highlights
- Seven retail units across ground‑level and second‑level spaces
- 11,543 square feet on a 0.265‑acre site
- 11 off‑street parking spaces plus on‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,033
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,620,660
$2.6M
Cap Rate 7%
$1,871,900
$1.9M
Cap Rate 9%
$1,455,922
$1.5M
Market Conditions
NOI Build-Up for 11,543 SF
Gross rent
$200.8K $17.40/SF
− Vacancy
−$13.7K −$1.18/SF
EGI
$187.2K $16.22/SF
− OpEx
−$56.2K −$4.87/SF
NOI
$131.0K $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 Rate 5%
$2,620,660
Cap Rate 7%
$1,871,900
Cap Rate 9%
$1,455,922
Alternative Uses
Best Use
Retail
$1.87M
$1.64M – $2.18M
NOI $131,033 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.79M
$9.44M – $12.59M
NOI $755,138 @ 7.0% cap · market cap 23.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20,000 VPD
Traffic count
Multi-tenant
Tenancy
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 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-level retail configuration with on-site parking, street parking, and pylon signage along Victory Drive.
Where is this shopping center located?
The property is located at 302 W Victory Drive Savannah, GA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Seven retail units across ground‑level and second‑level spaces; 11,543 square feet on a 0.265‑acre site; 11 off‑street parking spaces plus on‑street parking
