Savannah Historic Commercial Building
408 Martin Luther King Boulevard Savannah, GA 31401
408 Martin Luther King Boulevard, Savannah, GA, 31401
$2,719,900
For Sale
$2,719,900
MULTI_FAMILY - Savannah, GA
Property Size14,100 SF
Lot Size0.09 Acres
Price / SF$192.90
Days on Market53
Property Features for 408 Martin Luther King Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- BC
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Appliances
- Electric Water Heater, Tankless Water Heater
- 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
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Building materials
- Brick
Listing Agency
Brand Name Real Estate, Inc
(843) 737-0708
4 Carriage Lane, Suite 106, Charleston, GA
Listed by
Travis O. Sawyer · License #371507
(912) 308-7430
Added: May 26 Checked: Jul 17 at 8:06 am
MLS# SA356876
Listing URL
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 historic commercial building in Savannah presents a unique opportunity for redevelopment. The property, zoned commercial, is suitable for retail, multi-unit residential or short-term vacation rentals, a restaurant, or office space. The ground floor and basement are fully built-out, while the upper levels are unfinished, offering potential for creative redevelopment into offices, condos, or short-term rentals. The building has served as a hub for local innovation and art for over a decade. The property benefits from its location amidst new growth and energy, with views of the Talmadge Bridge, downtown skyline, and church steeples from the rooftop and upper floors. Its location provides easy access to I-16 and the Savannah Visitor Center, with steady foot traffic. The property is positioned for an investor or visionary looking to develop something new in Savannah.
Key Highlights
- Historic brick commercial building with fully built‑out ground floor and basement
- Zoned commercial and can be used as STVR
- Electric and central heating; central air cooling (plus electric cooling)
Local Financial Insights For Office B
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 | $313.0k | $22.20 |
| − Vacancy | −$51.6k | −$3.66 |
| EGI | $261.4k | $18.54 |
| − OpEx | −$65.3k | −$4.63 |
| NOI | $196.0k | $13.90 |
14,100 SF · lease $22.20/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.27M
NOI $196,029 @ 7.0% cap · market cap 7.21%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Historic Savannah commercial building with redevelopment potential for various uses.
Where is this mixed-use property 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 brick commercial building with fully built‑out ground floor and basement; Zoned commercial and can be used as STVR; Electric and central heating; central air cooling (plus electric cooling)
