Building Details

Year Built 1954

Stories 6

Units 1

Tenancy Multi

Listing Agency: NAI Mopper|Benton

Listed By: Rex Benton · License #GA 246053 Show Phone

Source: Crexi

Added: Jun 18 Changed: Oct 7 Last Checked: Oct 14 at 10:05PM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

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 / Yr

$448,906

Cap Rate

6.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,978,120 $9.0M

Cap Rate 7%

$6,412,943 $6.4M

Cap Rate 9%

$4,987,844 $5.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 32,289 SF

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 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 (±1% cap)

NOI $448,906 @ 7.0% cap · market cap 6.91%

Second Best

Mixed Use

$5.22M

$4.57M – $6.09M (±1% cap)

NOI $365,612 @ 7.0% cap · market cap 5.62%

Theoretical Best

Warehouse

$30.18M

$26.40M – $35.21M (±1% cap)

NOI $2,112,331 @ 7.0% cap · market cap 32.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Butcher Carpet & Flooring Store Florist Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

9.9% 2020

8.7% 2021

8.4% 2022

4.3% 2023

4.9% 2024

3.1% 2025

Similar For Sale Nearby

See more

Mixed-Use Warehouse and Office Facility

2811 W Bay St, Savannah, GA 31408

$3,375,000

28,126 SF

View details

Renovated Mixed-Use Property

134 Whitaker St, Savannah, GA 31401

$7,950,000

18,960 SF

View details

Historic District Storefront Property

102-108 W Congress Street, Savannah, GA 31401

$9,000,000

19,020 SF

View details

Corporate Office Campus

8 Southern Oaks Ct, Savannah, GA 31405

Contact for pricing

36,250 SF

View details

Two-Story Office Building

570 E York Street, Savannah, GA 31401

$6,050,000

6,986 SF

View details

Mixed-Use Building with Rooftop Views

408 Martin Luther King Boulevard, Savannah, GA 31401

$2,760,000

14,100 SF

View details

Four-Story Mixed-Use Building

300 Drayton Street, Savannah, GA 31401

Contact for pricing

24,141 SF

View details

Historic Apartment Building with Restaurant

115 E Bay Street, Savannah, GA 31401

$3,650,000

7,500 SF

View details

Savannah Office Building Leased to State

761 Wheaton Street, Savannah, GA 31401

$20,250,000

110,445 SF

View details

Mixed-Use Property with Storage

211B Johnny Mercer Boulevard, Savannah, GA 31410

$1,625,000

10,232 SF

View details

Starland District Mixed-Use Property

112 W Victory Drive, Savannah, GA 31401

$2,400,000

5,875 SF

View details

Two-Story Office Building with Gated Lot

8890 Abercorn Street, Savannah, GA 31406

$1,325,000

7,500 SF

View details

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