Quadplex with Screened
For Sale
$595,000
Pending
7224 Johnny Mercer Blvd, Savannah, GA 31410
Four residences offer two-bedroom, two-bath layouts, each with a kitchen, laundry connections, and an open living and dining area.
Property Size3,736 SF
Days on Market11
Property Features for 7224 Johnny Mercer Blvd
General Information
Standard status
Pending
Size
3,736 SF
Property subtype
Multi-Family
Occupancy
50%
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Amenities
screened porch
in-unit laundry
parking area
Building Details
Year Built
1996
Listing Agency:
BHHS Bay Street Realty Group
Listed By:
Schyler Foskey · License #422058
(912) 695-0778
Source:
Myhomesearchtriangle
Added: Oct 7
Changed: Oct 16
Last Checked: Oct 16 at 9:03AM
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 BHHS Bay Street Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 3,736-square-foot property contains four residences, each configured with two bedrooms and two full bathrooms, including a private bath connected to the primary bedroom. Kitchens with appliances, open living and dining areas, laundry rooms with washer and dryer connections, and screened porches are provided in every unit. Two units are leased. Unit B has been updated with new paint, vinyl flooring, bedroom carpet, stainless steel appliances, ceiling fans, and keypad entry; Unit C is undergoing similar work. New wood stairs and landings serve the two upper-level units, and a concrete parking area is located behind the building.
At 7224 Johnny Mercer Blvd in Savannah, the property is across the street from shopping, restaurants, and entertainment. The listing also notes access to the Truman Parkway and nearby schools, with downtown Savannah and Tybee Island a short drive away.
At 7224 Johnny Mercer Blvd in Savannah, the property is across the street from shopping, restaurants, and entertainment. The listing also notes access to the Truman Parkway and nearby schools, with downtown Savannah and Tybee Island a short drive away.
Key Highlights
- Four units, each with two bedrooms and two full bathrooms
- 3,736 square feet; built in 1996
- Two units are leased; Unit B is updated and Unit C is being refreshed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,612
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,240
$792.2K
Cap Rate 7%
$565,886
$565.9K
Cap Rate 9%
$440,133
$440.1K
Market Conditions
NOI Build-Up for 3,736 SF
Gross rent
$60.5K $16.20/SF
− Vacancy
−$3.9K −$1.05/SF
EGI
$56.6K $15.15/SF
− OpEx
−$17.0K −$4.54/SF
NOI
$39.6K $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%
$792,240
Cap Rate 7%
$565,886
Cap Rate 9%
$440,133
Alternative Uses
Best Use
Multifamily LT 5
$565.9K
$495.2K – $660.2K
NOI $39,612 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 6.17%
Theoretical Best
Warehouse
$3.49M
$3.06M – $4.07M
NOI $244,407 @ 7.0% cap · market cap 41.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
50%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 31410, GA
23,782
Population
10,263
Households
2.3
Avg Household Size
45
Median Age
51%
College-Educated
98%
High-School Grad
22.6 sq mi
ZIP Area
1,052
Density / Sq Mi
$97,225
Median Household Income
$54,693
Median Earnings
$1,702
Median Rent
$367,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer two-bedroom, two-bath layouts, each with a kitchen, laundry connections, and an open living and dining area.
Where is this quadplex located?
The property is located at 7224 Johnny Mercer Blvd Savannah, GA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four units, each with two bedrooms and two full bathrooms; 3,736 square feet; built in 1996; Two units are leased; Unit B is updated and Unit C is being refreshed
