5204 Waters Avenue, Savannah, GA 31404
Two commercially zoned parcels near a medical center, anchored by an all-brick retail building with strong road frontage.
- Added:
- May 8, 2026
- Days on Market:
- 62
- Last Refresh:
- Jul 8 at 4:24 am
Property Features for 5204 Waters Avenue
General Information
- Standard status
- Active
- Size
- 5,266 SF
- Lot size
- 0.44 Acres
Listing office Frank Moore & Company, LLC (912) 856-7734
Listing date May 8, 2026
Source Exprealty
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 Frank Moore & Company, LLC
HighLights
- Two commercially zoned parcels totaling approx. 0.4361 acres, sold together as a package (5204 Waters Ave and 1104 E 67th St).
- 5204 Waters Ave includes an all‑brick exterior on all sides with a solid concrete rear exterior.
- 5204 Waters Ave has road frontage and visibility approximately over 100 ft.
- Lamar sign on 5204 Waters Ave generates $400/month with over 7 years remaining on the contract.
- 1104 E 67th St adjoins the front parcel, offering additional space for expansion, development, or support use.
- Property is just off Waters Avenue with close proximity to Memorial Health University Medical Center.
Overview
The properties are positioned just off Waters Avenue with close proximity to Memorial Health University Medical Center. The front parcel provides strong road frontage and visibility estimated at approximately 100 feet. The surrounding area is described as established retail, medical, and residential, supporting a steady flow of local demand.
An on-site Lamar sign is on the 5204 Waters Avenue parcel, generating $400 per month with over 7 years remaining in the contract, which may appeal to both investors and owner-users. Buyers should verify zoning and permitted uses prior to planning. Ideal for buyers seeking a durable, brick-built commercial asset and a second parcel to complement future site plans, with both parcels required to be purchased together.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.6k | $17.40 |
| − Vacancy | −$6.2k | −$1.18 |
| EGI | $85.4k | $16.22 |
| − OpEx | −$25.6k | −$4.87 |
| NOI | $59.8k | $11.35 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- SameDay-FlowerDelivery — 4700 waters ave, savannah, ga 31404
Location Insight
- Map
- Local Demand
- City
- Savannah
- County
- Chatham
- State
- Georgia
- Longitude
- -81.080403
- Latitude
- 32.061866
