Savannah Historic Commercial Building
For Sale
$2,719,900
408 Martin Luther King Boulevard, Savannah, GA 31401
MULTI_FAMILY - Savannah, GA
Property Size14,100 SF
Lot Size0.09 Acres
Price / SF$192.90
Days on Market66
Property Features for 408 Martin Luther King Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
BC
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Appliances
Electric Water Heater, Tankless Water Heater
Subdivision
Berrien Ward
Lot features
City Lot
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
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
Listed By:
Travis O. Sawyer · License #371507
(912) 308-7430
Added: May 26
Changed: Jul 8
Last Checked: Jul 30 at 4:06PM
MLS# SA356876
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)
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,596
Businesses Nearby
Explore this area
Business Placement
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
Properties on Market for Mixed-use properties in Savannah
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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)
