Flex Building with Rear
For Sale
$829,000
3104 Skidaway Road, Savannah, GA 31404
Commercial Sale, Savannah, GA
Property Size6,000 SF
Lot Size0.15 Acres
Price / SF$138.17
Days on Market247
Property Features for 3104 Skidaway Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B-N
Appliances
Electric Water Heater
Directions
Heading East on Victory, take a right onto Skidaway. Property will be on the right side of the road on the corner of east 50th Street
Standard status
Active
APN
2009902011
Size
6,000 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LTS 207 208 SHEEHAN WD PINEHURST & 20 FT STRIP
Legal Description
LTS 207 208 SHEEHAN WD PINEHURST & 20 FT STRIP
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Building materials
Brick
Listing Agency:
Parker Scott Properties
(912) 897-6320
Listed By:
Samuel O. Clark · License #421582
(912) 661-6142
Added: Jan 15
Changed: Sep 12
Last Checked: Sep 19 at 9:06PM
MLS# SA346522
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.
Investment Insights
Based on property information with market context.
This 6,000-square-foot flex property combines a brick commercial building with a rear warehouse area and an adaptable interior plan. The layout can be configured for multiple tenant spaces, while the property’s B-N zoning supports retail, office, and light commercial service uses. Central heating and air conditioning are provided, along with an electric water heater.
The site encompasses 0.15 acres and includes 18 onsite parking spaces. Rear access adds another point of entry for occupants and deliveries. Public water and public sewer serve the property, and the building was constructed in 1954.
The site encompasses 0.15 acres and includes 18 onsite parking spaces. Rear access adds another point of entry for occupants and deliveries. Public water and public sewer serve the property, and the building was constructed in 1954.
Key Highlights
- 6,000 square feet of commercial space on a 0.15‑acre site
- Rear warehouse area with adaptable commercial layout
- B‑N zoning for neighborhood business use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,111
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,362,220
$1.4M
Cap Rate 7%
$973,014
$973.0K
Cap Rate 9%
$756,789
$756.8K
Market Conditions
NOI Build-Up for 6,000 SF
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.
Gross rent
$104.4K $17.40/SF
− Vacancy
−$7.1K −$1.18/SF
EGI
$97.3K $16.22/SF
− OpEx
−$29.2K −$4.87/SF
NOI
$68.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,362,220
Cap Rate 7%
$973,014
Cap Rate 9%
$756,789
Alternative Uses
Best Use
Warehouse
$5.61M
$4.91M – $6.54M
NOI $392,517 @ 7.0% cap · market cap 47.35%
Second Best
Industrial
$4.62M
$4.04M – $5.39M
NOI $323,249 @ 7.0% cap · market cap 38.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Savannah, GA
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Frequently Asked Questions
What type of property is this?
Flex space - B-N zoning, rear access, and a divisible layout support neighborhood-oriented commercial operations.
Where is this flex space located?
The property is located at 3104 Skidaway Road Savannah, GA.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 6,000 square feet of commercial space on a 0.15‑acre site; Rear warehouse area with adaptable commercial layout; B‑N zoning for neighborhood business use
