Single-Story Medical Office
420 Mall Boulevard, Savannah, GA 31406
For Sale
Contact for pricing
Fully occupied by a public health agency under a modified-gross lease with annual escalations.
Property Size7,378 SF
Price / SF$290.50
Days on Market21
Property Features for 420 Mall Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Office Units
Tenant in Place
Property Use
Building Details
Buildings
Stories
Tenancy
Owner Occupied
Listing Agency:
AJC Garfunkel
Listed By:
David Garfunkel · License #10923
Source:
Crexi
Added: Oct 20
Changed: Nov 8
Last Checked: Nov 8 at 5:09PM
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 AJC Garfunkel
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding, single-level medical office contains approximately 7,378 SF and is fully leased to the Glynn County Board of Health, operating as the Coastal Health District. The interior includes a reception and waiting area, private offices, exam rooms, and staff support areas. The tenant has occupied the property since 2015 and uses it for public health clinic and administrative functions. The modified-gross lease runs through September 2030, includes 3.0% annual escalations, and provides one five-year renewal option.
The building is on its own subdivided, fee-simple lot within Oglethorpe Office Park, a Savannah campus comprising seven buildings and approximately 118,944 SF on approximately 10.18 acres. Shared parking, drives, landscaping, lighting, signage, and stormwater are managed through a Property Owners' Association under a recorded Declaration.
The building is on its own subdivided, fee-simple lot within Oglethorpe Office Park, a Savannah campus comprising seven buildings and approximately 118,944 SF on approximately 10.18 acres. Shared parking, drives, landscaping, lighting, signage, and stormwater are managed through a Property Owners' Association under a recorded Declaration.
Key Highlights
- Approximately 7,378 SF; 100% leased to the Glynn County Board of Health
- Modified‑gross lease through September 2030, with 3.0% annual escalations and one five‑year renewal option
- Clinic and office layout includes reception, waiting area, private offices, exam rooms, and staff support space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,574
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,051,480
$2.1M
Cap Rate 7%
$1,465,343
$1.5M
Cap Rate 9%
$1,139,711
$1.1M
Market Conditions
NOI Build-Up for 7,378 SF
Gross rent
$163.8K $22.20/SF
− Vacancy
−$27.0K −$3.66/SF
EGI
$136.8K $18.54/SF
− OpEx
−$34.2K −$4.63/SF
NOI
$102.6K $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 Rate 5%
$2,051,480
Cap Rate 7%
$1,465,343
Cap Rate 9%
$1,139,711
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,574 @ 7.0% cap · market cap 4.79%
Second Best
Healthcare Medical
$1.34M
$1.17M – $1.56M
NOI $93,746 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,444 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,090
Businesses Nearby
Well-served
Demand for This Use
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
$260,800
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Savannah, GA
Properties on Market for Medical Office Space in Savannah
Vacancy Rate% for Office in Savannah, GA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully occupied by a public health agency under a modified-gross lease with annual escalations.
Where is this medical office space located?
The property is located at 420 Mall Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $2,143,307.
What are key features of this property?
This property features: Approximately 7,378 SF; 100% leased to the Glynn County Board of Health; Modified‑gross lease through September 2030, with 3.0% annual escalations and one five‑year renewal option; Clinic and office layout includes reception, waiting area, private offices, exam rooms, and staff support space
