Historic Mixed-Use Commercial
For Sale
$2,719,900
408 Martin Luther King Boulevard, Savannah, GA 31401
SINGLE_FAMILY - Savannah, GA
Property Size14,100 SF
Lot Size0.09 Acres
Price / SF$192.90
Days on Market139
Property Features for 408 Martin Luther King Boulevard
General Information
Property type
Residential
Property subtype
Retail
Zoning
BC
Rooms
Basement
Appliances
Electric Water Heater
Lot features
Historic District
Directions
Driving north on MLK the property will be on your right 408 MLK Jr Blvd
Standard status
Active
APN
2003136007
Size
14,100 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTH 24 FEET OF LOT 7 AND NORTH 23 FEET OF LOT 8 BERRIEN WARD
Tax Annual Amount
42208
Legal Description
SOUTH 24 FEET OF LOT 7 AND NORTH 23 FEET OF LOT 8 BERRIEN WARD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Flooring type
Concrete, Hardwood, Carpet
Building materials
Brick, Steel, Wood Siding
Listing Agency:
Brand Name Real Estate, Inc
(843) 737-0708
Listed By:
Travis O. Sawyer · License #371507
(912) 308-7430
Added: Mar 20
Changed: Jul 7
Last Checked: Aug 5 at 6:06PM
MLS# SA351777
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.
Historic commercial building in Savannah offering a fully built-out ground floor and basement, with unfinished upper levels. The property includes space that can support a range of concepts, including retail, restaurant, or office use, while the upper floors remain available for conversion and redevelopment. A rooftop and upper floors are described as providing sweeping views of the Talmadge Bridge, downtown skyline, and surrounding church steeples.
The building is zoned BC and is positioned for convenient access to I-16. Public remarks also cite proximity to the Savannah Visitor Center and describe steady foot traffic in the surrounding area. The property is located at 408 Martin Luther King Boulevard, Savannah, GA 31401, on a lot of 0.087 acres, with a total size of 14,100 square feet.
For owners, buyers, or tenants seeking a commercial structure with multiple development paths, this layout supports immediate activation of the ground floor and basement while leaving flexibility upstairs. The BC zoning and the described access points make it suitable for operators exploring a retail, restaurant, or office presence, along with opportunities for phased redevelopment of the unfinished upper levels into additional income-generating spaces such as offices, condos, or short-term rentals.
The building is zoned BC and is positioned for convenient access to I-16. Public remarks also cite proximity to the Savannah Visitor Center and describe steady foot traffic in the surrounding area. The property is located at 408 Martin Luther King Boulevard, Savannah, GA 31401, on a lot of 0.087 acres, with a total size of 14,100 square feet.
For owners, buyers, or tenants seeking a commercial structure with multiple development paths, this layout supports immediate activation of the ground floor and basement while leaving flexibility upstairs. The BC zoning and the described access points make it suitable for operators exploring a retail, restaurant, or office presence, along with opportunities for phased redevelopment of the unfinished upper levels into additional income-generating spaces such as offices, condos, or short-term rentals.
Key Highlights
- Historic commercial building built in 1900 with brick, steel, and wood siding
- Fully built‑out ground floor and basement plus unfinished upper levels for redevelopment
- Includes electric water heater; heating includes electric and central systems
Financial Insights For Specialty 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 | $279.2k | $19.80 |
| − Vacancy | −$15.4k | −$1.09 |
| EGI | $263.8k | $18.71 |
| − OpEx | −$66.0k | −$4.68 |
| NOI | $197.9k | $14.03 |
14,100 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.83M
$2.47M – $3.30M
NOI $197,869 @ 7.0% cap · market cap 7.27%
Second Best
Retail
$2.29M
$2.00M – $2.67M
NOI $160,060 @ 7.0% cap · market cap 5.88%
Theoretical Best
Warehouse
$13.18M
$11.53M – $15.37M
NOI $922,415 @ 7.0% cap · market cap 33.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,596
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 33%
Electronics 9%
KFC
Dining
6,534 visits/mo
0.4 miles
Woof Gang Bakery
Shops & Services
3,097 visits/mo
0.3 miles
Cricket Wireless Authorized Retailer
Electronics
1,041 visits/mo
0.3 miles
Stars & Stripes Llc
Shops & Services
555 visits/mo
0.0 miles
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Fully built-out ground floor and basement with unfinished upper levels in a BC-zoned commercial property.
Where is this retail space located?
The property is located at 408 Martin Luther King Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $2,719,900.
What are key features of this property?
This property features: Historic commercial building built in 1900 with brick, steel, and wood siding; Fully built‑out ground floor and basement plus unfinished upper levels for redevelopment; Includes electric water heater; heating includes electric and central systems
