All-Brick Retail Parcels with Road
5204 Waters Avenue Savannah, GA 31404
5204 Waters Avenue, Savannah, GA, 31404
$735,000
For Sale
$735,000
Two commercially zoned parcels near a medical center, anchored by an all-brick retail building with strong road frontage.
Property Size5,266 SF
Lot Size0.44 Acres
Price / SF$139.57
Days on Market71
Property Features for 5204 Waters Avenue
General Information
- Standard status
- Active
- Size
- 5,266 SF
- Lot size
- 0.44 Acres
Listing Agency
Frank Moore & Company, LLC
(912) 856-7734
Listed by
Maranda L. Alford · License #441350
(912) 856-7734
Source
Exprealty
Added: May 8 Checked: Jul 16 at 11:46 pm
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
Investment Insights
Based on property information with market context.
This offering includes two commercially zoned parcels sold together as a package, totaling approximately 0.4361 acres and supporting a versatile retail footprint totaling about 5,266 square feet. The front parcel at 5204 Waters Avenue features a well-constructed all-brick exterior on all sides with a solid concrete rear exterior. This full masonry construction is designed for durability and low exterior maintenance. The adjoining parcel at 1104 E. 67th Street provides additional space for expansion, development, or support use.
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.
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.
Key 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.
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 |
5,266 SF · lease $17.40/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$854.0K
$747.2K – $996.3K
NOI $59,778 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.92M
$4.31M – $5.74M
NOI $344,499 @ 7.0% cap · market cap 46.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - Two commercially zoned parcels near a medical center, anchored by an all-brick retail building with strong road frontage.
Where is this storefront property located?
The property is located at 5204 Waters Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 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.
