First-Floor Office
For Sale
$155,000
355 Commerce Place, Savannah, GA 31406
Commercial Sale, Savannah, GA
Property Size616 SF
Lot Size0.01 Acres
Price / SF$251.62
Days on Market29
Property Features for 355 Commerce Place
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City Lot
Directions
Head south on Abercorn St.Turn left onto Eisenhower Dr.Turn right onto Commercial Drive.Look for the Commerce Place office park on the left.
Standard status
Active
APN
196941
Size
616 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric
Water source
Public
Building Details
Year built
1982
Building materials
Frame
Roof type
Composition
Listing Agency:
Scott Realty Professionals LLC
(912) 349-7766
Listed By:
Sabriya Scott · License #269094
(912) 844-0682
Added: Jul 23
Changed: Aug 19
Last Checked: Aug 20 at 4:06PM
MLS# 10814910
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.
First-floor office suite built for flexible professional use, featuring two private offices, a welcoming receptionist area that can also function as additional workspace, a kitchenette with wet bar, and a private restroom. The suite is described as recently renovated and move-in-ready, with a flexible floor plan for a range of administrative and professional businesses.
The property is located at 355 Commerce Place in Savannah, GA 31406 (Chatham County). It includes a 0.01-acre lot and a 616-square-foot office space. Constructed with frame materials and supported by public water and public sewer.
Comfort and operations include central heating with electric heating and electric cooling. The roof is a composition roof, and the building was constructed in 1982, with easy first-floor access for day-to-day use.
The property is located at 355 Commerce Place in Savannah, GA 31406 (Chatham County). It includes a 0.01-acre lot and a 616-square-foot office space. Constructed with frame materials and supported by public water and public sewer.
Comfort and operations include central heating with electric heating and electric cooling. The roof is a composition roof, and the building was constructed in 1982, with easy first-floor access for day-to-day use.
Key Highlights
- 355 Commerce Place, Savannah, GA 31406
- Two private offices plus receptionist area, kitchenette with wet bar, and private restroom
- 616 square feet of office space
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
$8,564
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
5.53%
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%
$171,280
$171.3K
Cap Rate 7%
$122,343
$122.3K
Cap Rate 9%
$95,156
$95.2K
Market Conditions
NOI Build-Up for 616 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
$13.7K $22.20/SF
− Vacancy
−$2.3K −$3.66/SF
EGI
$11.4K $18.54/SF
− OpEx
−$2.9K −$4.63/SF
NOI
$8.6K $13.90/SF
Area
Savannah, GA
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$171,280
Cap Rate 7%
$122,343
Cap Rate 9%
$95,156
Alternative Uses
Best Use
Office B
$122.3K
$107.1K – $142.7K
NOI $8,564 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$575.7K
$503.7K – $671.6K
NOI $40,298 @ 7.0% cap · market cap 26.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Renovated first-floor suite with two private offices, receptionist area, kitchenette with wet bar, and private restroom.
Where is this office units located?
The property is located at 355 Commerce Place Savannah, GA.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 355 Commerce Place, Savannah, GA 31406; Two private offices plus receptionist area, kitchenette with wet bar, and private restroom; 616 square feet of office space
