Savannah Starland District Retail
For Sale
$3,200,000
302 W Victory Dr, Savannah, GA 31405
Prime retail units in Savannah's vibrant Starland District.
Property Size11,543 SF
Price / SF$277.22
Days on Market77
Property Features for 302 W Victory Dr
General Information
Standard status
Active
Size
11,543 SF
Listing Agency:
Parker Scott Properties
(912) 604-1197
Listed By:
Michelle Parker · License #276851
(912) 604-1197
Source:
Exprealty
Added: May 21
Changed: Jul 10
Last Checked: Jul 31 at 3:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Parker Scott Properties
Investment Insights
Based on property information with market context.
Located on Victory Drive in Savannah's Starland District, this shopping center features seven retail units. The property benefits from a dynamic mix of bars, restaurants, and boutique shopping, with strong, consistent foot traffic. The Savannah College of Art and Design Victory Village dormitory complex is located directly across the street. Approximately 20,000 vehicles pass by the location daily. The property includes a mix of ground-level and second-level spaces. The site offers visibility and accessibility, with 11 off-street parking spaces, ample street parking, and pylon signage along Victory Drive. The property is positioned within one of Savannah's active and growing corridors. The property generates $224,000 annually. The property size is 11,543 square feet.
Key Highlights
- Prime location in Savannah's Starland District, a vibrant and highly walkable area with strong foot traffic.
- Anchored by Savannah College of Art and Design (SCAD) Victory Village dormitory complex across the street, ensuring consistent customer base.
- High visibility and accessibility with 11 off‑street parking spaces, ample street parking, and prominent pylon signage.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $200.8k | $17.40 |
| − Vacancy | −$13.7k | −$1.18 |
| EGI | $187.2k | $16.22 |
| − OpEx | −$56.2k | −$4.87 |
| NOI | $131.0k | $11.35 |
11,543 SF · lease $17.40/SF/yr · vacancy 6.80% · expense 30.00%
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Prime retail units in Savannah's vibrant Starland District.
Where is this shopping center located?
The property is located at 302 W Victory Dr 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: Prime location in Savannah's Starland District, a vibrant and highly walkable area with strong foot traffic.; Anchored by Savannah College of Art and Design (SCAD) Victory Village dormitory complex across the street, ensuring consistent customer base.; High visibility and accessibility with 11 off‑street parking spaces, ample street parking, and prominent pylon signage.
