Building Details

Year Built 1940

Buildings 1

Listing Agency: McIntosh Realty Team LLC

Listed By: Sarah Sullivan · License #419783 Show Phone

Source: Thehomesourcegroupga

Added: Jul 17 Changed: Oct 3 Last Checked: Oct 16 at 2:42PM

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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 McIntosh Realty Team LLC

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Investment Insights

Based on property information with market context.

This 2,640-square-foot triplex contains three residential units and includes on-site parking. A large fenced outdoor area provides additional exterior space for the property’s occupants and supports a range of possible site configurations. The property is offered as-is.

The Savannah location is near Thomas Square, downtown Savannah, SCAD, Enmarket Arena, the Georgia Ports, Forsyth Park, and Daffin Park. Its proximity to these destinations places the property within reach of downtown, educational, recreational, event, and port-related areas.

Key Highlights

• Three‑unit triplex totaling 2,640 square feet
• On‑site parking included
• Large fenced outdoor area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,992

Cap Rate

6.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$559,840 $559.8K

Cap Rate 7%

$399,886 $399.9K

Cap Rate 9%

$311,022 $311.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,640 SF

Gross rent

$42.8K $16.20/SF

− Vacancy

−$2.8K −$1.05/SF

EGI

$40.0K $15.15/SF

− OpEx

−$12.0K −$4.54/SF

NOI

$28.0K $10.60/SF

Area

Savannah, GA

Vacancy

6.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$559,840

Cap Rate 7%

$399,886

Cap Rate 9%

$311,022

Alternative Uses

Best Use

Multifamily LT 5

$399.9K

$349.9K – $466.5K (±1% cap)

NOI $27,992 @ 7.0% cap · market cap 6.22%

Second Best

Apartment 5plus

$370.8K

$324.5K – $432.7K (±1% cap)

NOI $25,959 @ 7.0% cap · market cap 5.77%

Theoretical Best

Warehouse

$2.47M

$2.16M – $2.88M (±1% cap)

NOI $172,708 @ 7.0% cap · market cap 38.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Electrical Service Carpet & Flooring Store Plumbing Service Catering Service Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

1,273

Businesses Nearby

Explore this area Business Placement

Demographics for 31415, GA

11,034

Population

5,591

Households

2

Avg Household Size

37

Median Age

15%

College-Educated

79%

High-School Grad

6.6 sq mi

ZIP Area

1,672

Density / Sq Mi

$37,890

Median Household Income

$28,229

Median Earnings

$973

Median Rent

$112,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - As-is three-unit property with on-site parking and a large fenced outdoor area.

Where is this triplex located?

The property is located at 603 W 40th St Savannah, GA.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Three‑unit triplex totaling 2,640 square feet; On‑site parking included; Large fenced outdoor area