Fenced Flex Property with
For Sale
Under Contract
$575,000
5028 Augusta Road, Savannah, GA 31408
Commercial Sale, Savannah, GA
Property Size2,598 SF
Lot Size0.75 Acres
Price / SF$221.32
Days on Market110
Property Features for 5028 Augusta Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Appliances
Electric Water Heater, Refrigerator
Directions
Head toward Wallberry St, Turn left onto Augusta Rd, Destination will be on the left
Standard status
Active Under Contract
APN
6000803003A
Size
2,598 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Description
LOT 6 & PT OF LOT 7 INDUSTRIAL CITY GARDENS
Tax Annual Amount
3391
Legal Description
LOT 6 & PT OF LOT 7 INDUSTRIAL CITY GARDENS
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
main office
maintenance shop
covered canopy
storage shed
paved lot
Building Details
Year built
1961
Floors in Building
1
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Beth L. Vantosh · License #248541
(912) 663-3392
Added: May 6
Changed: Aug 22
Last Checked: Aug 23 at 3:06AM
MLS# SA355412
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.
Investment Insights
Based on property information with market context.
This 2,598-square-foot flex property includes a main office, maintenance shop, covered canopy, and a rear storage shed. The 0.75-acre parcel is fully fenced and paved, with two curb cuts serving Augusta Road. Building systems include central electric heating and electric cooling, with a public water source and an electric water heater.
The property fronts US Highway 21, also known as Augusta Road, and sits 1.6 miles from the Port of Savannah’s Garden City Terminal and 5.5 miles from Savannah International Airport. Zoned C2, the site is currently leased to Tanzo Motors and is identified as available in 2027. Originally built in 1961, the property offers a combination of office, service, and covered storage improvements within a secured commercial setting.
The property fronts US Highway 21, also known as Augusta Road, and sits 1.6 miles from the Port of Savannah’s Garden City Terminal and 5.5 miles from Savannah International Airport. Zoned C2, the site is currently leased to Tanzo Motors and is identified as available in 2027. Originally built in 1961, the property offers a combination of office, service, and covered storage improvements within a secured commercial setting.
Key Highlights
- 2,598‑square‑foot flex property on a 0.75‑acre parcel
- Frontage on US Highway 21, also known as Augusta Road
- 1.6 miles from the Port of Savannah’s Garden City Terminal
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
$38,994
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
6.78%
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%
$779,880
$779.9K
Cap Rate 7%
$557,057
$557.1K
Cap Rate 9%
$433,267
$433.3K
Market Conditions
NOI Build-Up for 2,598 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
$67.0K $25.80/SF
− Vacancy
−$7.0K −$2.71/SF
EGI
$60.0K $23.09/SF
− OpEx
−$21.0K −$8.08/SF
NOI
$39.0K $15.01/SF
Area
Savannah, GA
Vacancy
10.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
35.00%
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%
$779,880
Cap Rate 7%
$557,057
Cap Rate 9%
$433,267
Alternative Uses
Best Use
Industrial
$2.00M
$1.75M – $2.33M
NOI $139,967 @ 7.0% cap · market cap 24.34%
Second Best
Flex RnD
$557.1K
$487.4K – $649.9K
NOI $38,994 @ 7.0% cap · market cap 6.78%
Theoretical Best
Warehouse
$2.43M
$2.12M – $2.83M
NOI $169,960 @ 7.0% cap · market cap 29.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31408, GA
11,790
Population
4,529
Households
2.6
Avg Household Size
36
Median Age
13%
College-Educated
82%
High-School Grad
21.1 sq mi
ZIP Area
559
Density / Sq Mi
$40,109
Median Household Income
$30,667
Median Earnings
$1,080
Median Rent
$160,600
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?
Flex space - C2-zoned commercial property combines office, maintenance, covered storage, and a paved, secured site.
Where is this flex space located?
The property is located at 5028 Augusta Road Savannah, GA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,598‑square‑foot flex property on a 0.75‑acre parcel; Frontage on US Highway 21, also known as Augusta Road; 1.6 miles from the Port of Savannah’s Garden City Terminal
