Restored Victorian Office
For Sale
$999,900
Pending
420 E Bolton St, Savannah, GA 31401
Move-in-ready two-level office with flexible rooms and updated systems in Savannah’s Victorian District.
Property Size3,708 SF
Days on Market317
Property Features for 420 E Bolton St
General Information
Standard status
Pending
Size
3,708 SF
Property subtype
Residential Income
Zoning
TN 1
Building Details
Stories
2
Listing Agency:
Engel & Volkers
(912) 441-9101
Listed By:
Jessica L. Kelly · License #270287
(912) 441-9101
Source:
Exprealty
Added: Sep 29, 2025
Changed: Aug 8
Last Checked: Aug 10 at 10:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Engel & Volkers
Investment Insights
Based on property information with market context.
This distinguished two-level property has been fully renovated with an award-winning restoration approach, pairing historic character with updated building systems. Interior features include soaring ceilings, expansive rooms suitable for private offices and conference space, multiple mantles, and hardwood floors throughout. The building offers updated kitchens with appliances and beautifully tiled baths, supporting immediate move-in readiness with minimal buildout required. Double front porches add street presence, while rear decks and a shared courtyard provide additional outdoor gathering space. The property is configured for flexible occupancy, with each level offering over 1,850 square feet.
Located in Savannah’s highly sought-after Victorian District, the building is zoned TN 1 (Traditional Neighborhood), which supports flexibility for a range of professional and commercial uses. The setting is described as being steps from Forsyth Park and near surrounding amenities, with a visibility and prestige-forward presence in the district. Potential off-street parking is also noted as part of the property’s overall utility.
Designed to serve professional firms and creative or client-facing operations, the layout can accommodate attorney and architectural practices, art gallery environments, coworking concepts, or live-work arrangements as permitted by zoning. With expansive interiors, updated kitchens, and move-in-ready finishes, it suits tenants or buyers seeking a polished office environment that retains distinctive Victorian features while meeting modern functional needs.
Located in Savannah’s highly sought-after Victorian District, the building is zoned TN 1 (Traditional Neighborhood), which supports flexibility for a range of professional and commercial uses. The setting is described as being steps from Forsyth Park and near surrounding amenities, with a visibility and prestige-forward presence in the district. Potential off-street parking is also noted as part of the property’s overall utility.
Designed to serve professional firms and creative or client-facing operations, the layout can accommodate attorney and architectural practices, art gallery environments, coworking concepts, or live-work arrangements as permitted by zoning. With expansive interiors, updated kitchens, and move-in-ready finishes, it suits tenants or buyers seeking a polished office environment that retains distinctive Victorian features while meeting modern functional needs.
Key Highlights
- Two‑level, move‑in‑ready office property in Savannah’s Victorian District
- Zoned TN 1 (Traditional Neighborhood) with flexible layout for professional or commercial use
- Fully renovated with updated systems, new kitchens with appliances, and beautifully tiled baths
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
$51,551
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
5.16%
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%
$1,031,020
$1.0M
Cap Rate 7%
$736,443
$736.4K
Cap Rate 9%
$572,789
$572.8K
Market Conditions
NOI Build-Up for 3,708 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
$82.3K $22.20/SF
− Vacancy
−$13.6K −$3.66/SF
EGI
$68.7K $18.54/SF
− OpEx
−$17.2K −$4.63/SF
NOI
$51.6K $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%
$1,031,020
Cap Rate 7%
$736,443
Cap Rate 9%
$572,789
Alternative Uses
Best Use
Office B
$736.4K
$644.4K – $859.2K
NOI $51,551 @ 7.0% cap · market cap 5.16%
Second Best
Mixed Use
$599.8K
$524.8K – $699.8K
NOI $41,986 @ 7.0% cap · market cap 4.20%
Theoretical Best
Warehouse
$3.47M
$3.03M – $4.04M
NOI $242,576 @ 7.0% cap · market cap 24.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
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
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Move-in-ready two-level office with flexible rooms and updated systems in Savannah’s Victorian District.
Where is this office building located?
The property is located at 420 E Bolton St Savannah, GA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two‑level, move‑in‑ready office property in Savannah’s Victorian District; Zoned TN 1 (Traditional Neighborhood) with flexible layout for professional or commercial use; Fully renovated with updated systems, new kitchens with appliances, and beautifully tiled baths
