Savannah Streetcar District Mixed-Use
For Sale
Contact for pricing
422 W 43rd St, Savannah, GA 31401
Two-story, 2,800 SF property in Savannah's Streetcar District.
Property Size2,800 SF
Price / SF$319.64
Days on Market186
Property Features for 422 W 43rd St
General Information
Standard status
Active
Size
2,800 SF
Class
C
Property subtype
Office, Retail
Zoning
TC-1
Investment Type
Owner/User
Building Details
Year Built
1920
Year Renovated
2015
Buildings
1
Stories
2
Listing Agency:
Engel & Volkers Savannah
(912) 659-0464
Listed By:
Shane Litts · License #375076
Source:
Crexi
Added: Feb 12
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 Savannah
Investment Insights
Based on property information with market context.
Located in Savannah’s Streetcar District, the property at 422 W 43rd Street offers a TC-1 (Traditional Commercial) zoning, suitable for owner-users and investors. The two-story building, with a size of approximately 2,800 SF, is currently configured as a mixed office/residential layout but is fully zoned for commercial use, allowing for repositioning to meet market demand. The TC-1 zoning supports a range of uses, including restaurant, café, professional office, retail, service-oriented businesses, and non-owner occupied short-term vacation rentals. The location is near The Jardin, a new mixed-use residential and commercial development under construction, which will include multiple residential buildings with more than 50 apartments and ground-floor commercial space with outdoor seating. The property benefits from dual frontage along West 43rd Street and Martin Luther King Jr. Boulevard, offering ingress/egress and visibility. A gated rear courtyard and six off-street parking spaces provide functional advantages. Architectural features include high ceilings, original detailing, and multiple access points suited for adaptive reuse, a live-work configuration, or conversion to single or multi-tenant commercial space. The asset is located minutes from Downtown Savannah, SCAD housing, and major transit corridors, within an established and active commercial corridor.
Key Highlights
- TC‑1 zoning allows for diverse commercial uses (restaurant, retail, office, short‑term rental).
- Seller financing available, providing deal structuring flexibility.
- Located near 'The Jardin' development, increasing pedestrian traffic and demand.
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
$31,705
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
3.54%
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%
$634,100
$634.1K
Cap Rate 7%
$452,929
$452.9K
Cap Rate 9%
$352,278
$352.3K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$50.7K $18.12/SF
− OpEx
−$19.0K −$6.79/SF
NOI
$31.7K $11.32/SF
Area
Savannah, GA
Vacancy
8.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
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%
$634,100
Cap Rate 7%
$452,929
Cap Rate 9%
$352,278
Alternative Uses
Best Use
Mixed Use
$452.9K
$396.3K – $528.4K
NOI $31,705 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.62M
$2.29M – $3.05M
NOI $183,175 @ 7.0% cap · market cap 20.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,275
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story, 2,800 SF property in Savannah's Streetcar District.
Where is this mixed-use property located?
The property is located at 422 W 43rd St Savannah, GA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: TC‑1 zoning allows for diverse commercial uses (restaurant, retail, office, short‑term rental).; Seller financing available, providing deal structuring flexibility.; Located near 'The Jardin' development, increasing pedestrian traffic and demand.
