Brick Triplex with
For Sale
$344,900
6 Ronnie Avenue, Savannah, GA 31408
Residential Income, Savannah, GA
Property Size3,162 SF
Lot Size0.13 Acres
Price / SF$109.08
Days on Market81
Property Features for 6 Ronnie Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R1
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 5
Appliances
Electric Water Heater
Subdivision
Industrial City Gardens
Directions
Off Augusta Ave onto Ronnie.
Standard status
Active
APN
6000704004A
Size
3,162 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT D-2 SUB OF LOT 1 RESUB OF LO T 103 INDUSTRIAL CITY GARDE N
Tax Annual Amount
4033
Legal Description
LOT D-2 SUB OF LOT 1 RESUB OF LO T 103 INDUSTRIAL CITY GARDE N
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Window Unit(s), Electric
Water source
Public
Building Details
Year built
1961
Floors in Building
2
Number of units
3
Building materials
Brick
Listing Agency:
Seaport Real Estate Group
(912) 210-4767
Listed By:
John R. Carr V · License #389664
(912) 228-0916
Added: Jun 19
Changed: Sep 3
Last Checked: Sep 7 at 12:06PM
MLS# SA358559
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 3,162-square-foot triplex contains three similarly configured units, each with two bedrooms and one bathroom. Units A and B include dedicated garages. The building was constructed in 1961 with brick exterior materials and is served by central electric heating, electric cooling, window units, public water, and public sewer. An electric water heater is also in place.
The property occupies 0.126 acres in Garden City, just outside Savannah, Georgia. It carries R1 zoning and is identified within Chatham County. The consistent unit layout and established brick construction provide a uniform physical configuration across the property.
The property occupies 0.126 acres in Garden City, just outside Savannah, Georgia. It carries R1 zoning and is identified within Chatham County. The consistent unit layout and established brick construction provide a uniform physical configuration across the property.
Key Highlights
- 3,162‑square‑foot triplex with three 2‑bedroom, 1‑bath units
- Units A and B include dedicated garages
- Built in 1961 with brick construction
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
$31,092
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
9.01%
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%
$621,840
$621.8K
Cap Rate 7%
$444,171
$444.2K
Cap Rate 9%
$345,467
$345.5K
Market Conditions
NOI Build-Up for 3,162 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
$60.3K $19.08/SF
− Vacancy
−$3.8K −$1.20/SF
EGI
$56.5K $17.88/SF
− OpEx
−$25.4K −$8.05/SF
NOI
$31.1K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$621,840
Cap Rate 7%
$444,171
Cap Rate 9%
$345,467
Alternative Uses
Best Use
Multifamily LT 5
$478.9K
$419.1K – $558.8K
NOI $33,526 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$444.2K
$388.7K – $518.2K
NOI $31,092 @ 7.0% cap · market cap 9.01%
Theoretical Best
Warehouse
$2.96M
$2.59M – $3.45M
NOI $206,857 @ 7.0% cap · market cap 59.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three matching residential units offer a straightforward layout with public utilities and dedicated garages for two residences.
Where is this triplex located?
The property is located at 6 Ronnie Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: 3,162‑square‑foot triplex with three 2‑bedroom, 1‑bath units; Units A and B include dedicated garages; Built in 1961 with brick construction
