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    422 W 43rd Street Savannah, GA 31401

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    For Sale
    Under Contract
    $895,000

    SINGLE_FAMILY - Victorian - Savannah, GA

    Type:Office
    Property size:
    2,300 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $389/SF
    Added:
    Jan 16, 2026
    Days on Market:
    107
    Last Refresh:
    May 3 at 2:06 pm

    Property Features for 422 W 43rd Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    TC-1
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1
    Parking
    6
    Interior features
    High Ceilings
    Exterior features
    Fence
    Fencing
    Privacy, Fenced
    Appliances
    Gas Water Heater, Oven, Range, Refrigerator
    Standard status
    Active Under Contract
    APN
    2007418011
    Size
    2,300 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT 1A RECOMBINATION OF LOTS 14, 15 & 16 MYERS WD PLAT HBOOK 50 PG 274

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Heat Pump, Electric
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Flooring type
    Hardwood
    Building materials
    Metal Siding, Wood Siding
    Roof type
    Composition
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Shane P. Litts
    Shane P. Litts

    Listing agent Shane P. Litts License #375076

    Listing office Engel & Volkers 1650 E Victory Drive, Savannah, GA

    Listing date Jan 16, 2026

    MLS# SA347028

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Property in Streetcar District

    Located in Savannah's Streetcar District, 422 W 43rd Street presents a unique opportunity to acquire a TC-1 (Traditional Commercial) zoned property. The two-story building, encompassing approximately 2,800 square feet, is currently configured as a mixed office/residential layout. The zoning allows for a wide array of commercial uses, including restaurant, cafe, professional office, retail, service businesses, and short-term vacation rental, subject to city requirements. The property is situated on a corner lot with frontage on both W 43rd Street and Martin Luther King Jr. Boulevard, providing strong visibility and convenient access. Additional features include a gated rear courtyard and six off-street parking spaces. The property is located directly adjacent to The Jardin, a new mixed-use development under construction that will add residential density and ground-floor commercial space, further enhancing walkability and demand in the immediate area. The lot size is 0.186 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Third Space Collective (Bike/Boat/Book/etc) Store House Of DANIETTÉ (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.106663
    Latitude
    32.054108

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    FAQs

    What type of property is this?
    Mixed-use property - TC-1 zoned property with commercial potential in Savannah's Streetcar District.
    Where is this mixed-use property located?
    The property is located at 422 W 43rd Street 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: High visibility corner lot with dual frontage on W 43rd and MLK Jr. Blvd.; TC‑1 Zoning allows for diverse commercial uses (restaurant, retail, office, STR) and offers exceptional flexibility.; Rare off‑street parking with six spaces in the Streetcar District.
    (912) 659-0464
    We can help!
    Listing Contact
    Shane P. Litts
    Shane P. Litts
    Real Estate License ID: 375076
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    422 W 43rd Street, Savannah, GA 31401

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