Six-Story Mixed-Use
For Sale
Contact for pricing
422 Habersham Street, Savannah, GA 31401
Brick tower with an enclosed courtyard, rooftop equipment penthouse, and two-story addition.
Property Size32,289 SF
Price / SF$201.31
Days on Market75
Property Features for 422 Habersham Street
General Information
Standard status
Active
Size
32,289 SF
Class
B
Property subtype
Retail, Office, Mixed Use
Zoning
D-R
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1954
Stories
6
Units
1
Tenancy
Multi
Listing Agency:
NAI Mopper|Benton
(912) 238-0874
Listed By:
Rex Benton · License #GA 246053
Source:
Crexi
Added: Jun 18
Changed: Aug 30
Last Checked: Aug 30 at 5:18AM
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 NAI Mopper|Benton
Investment Insights
Based on property information with market context.
Located at 422 Habersham Street in Savannah's Historic District, this 32,289-square-foot mixed-use property was built in 1954 and previously served as headquarters for the Red Cross. The improvements include a six-story yellow-and-red brick tower, basement, rooftop equipment penthouse, two-story appendage, and enclosed courtyard. The property is zoned D-R.
Redevelopment concepts identified for the property include residential or student housing, build-to-rent condominiums, and a mixed-use arrangement with ground-floor retail and office and residential space above. Views extend toward Whitfield Square, nearby churches, and surrounding historic homes.
Redevelopment concepts identified for the property include residential or student housing, build-to-rent condominiums, and a mixed-use arrangement with ground-floor retail and office and residential space above. Views extend toward Whitfield Square, nearby churches, and surrounding historic homes.
Key Highlights
- 32,289‑square‑foot property built in 1954
- Six‑story yellow‑and‑red brick tower with basement
- Two‑story appendage and enclosed courtyard
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
$448,906
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
6.91%
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%
$8,978,120
$9.0M
Cap Rate 7%
$6,412,943
$6.4M
Cap Rate 9%
$4,987,844
$5.0M
Market Conditions
NOI Build-Up for 32,289 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
$716.8K $22.20/SF
− Vacancy
−$118.3K −$3.66/SF
EGI
$598.5K $18.54/SF
− OpEx
−$149.6K −$4.63/SF
NOI
$448.9K $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%
$8,978,120
Cap Rate 7%
$6,412,943
Cap Rate 9%
$4,987,844
Alternative Uses
Best Use
Office B
$6.41M
$5.61M – $7.48M
NOI $448,906 @ 7.0% cap · market cap 6.91%
Second Best
Mixed Use
$5.22M
$4.57M – $6.09M
NOI $365,612 @ 7.0% cap · market cap 5.62%
Theoretical Best
Warehouse
$30.18M
$26.40M – $35.21M
NOI $2,112,331 @ 7.0% cap · market cap 32.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,621
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick tower with an enclosed courtyard, rooftop equipment penthouse, and two-story addition.
Where is this mixed-use property located?
The property is located at 422 Habersham Street Savannah, GA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 32,289‑square‑foot property built in 1954; Six‑story yellow‑and‑red brick tower with basement; Two‑story appendage and enclosed courtyard
