Retail Flex Building with
For Sale
Contact for pricing
Pending
737 Wheaton Street, Savannah, GA 31401
A retail-flex property with prominent Wheaton Street frontage and I-L-T zoning for multiple commercial use types.
Property Size16,000 SF
Days on Market98
Property Features for 737 Wheaton Street
General Information
Standard status
Pending
Size
16,000 SF
Property subtype
Retail, Industrial
Zoning
Light Industrial - Transition (I-L-T)
Building Details
Tenancy
Single
Listing Agency:
Colliers - Savannah, Georgia
Listed By:
Rhett Mouchet · License #GA 60903
(912) 713-4341
Source:
Crexi
Added: Jun 2
Changed: Aug 27
Last Checked: Aug 14 at 7:27AM
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 Colliers - Savannah, Georgia
Investment Insights
Based on property information with market context.
This retail-flex property offers versatile space suitable for a range of tenant and business formats. The site is positioned for front-facing operations, with existing I-L-T zoning supporting uses that include showroom, warehouse, distribution, contractor services, retail supply, trade sales, flex industrial, and service-oriented businesses.
Located near Downtown Savannah and port logistics corridors, the property benefits from prominent frontage along Wheaton Street. The positioning is intended to support day-to-day accessibility for customers and clients as well as connectivity to the broader Savannah-area commercial and logistics flow.
For buyers and operators seeking flexible real estate that can accommodate retail-forward activity alongside warehousing and light industrial functions, the I-L-T zoning is a practical fit. The combination of frontage-oriented placement and a zoning framework that supports multiple commercial use categories can help streamline planning for prospective tenants within the allowed use list.
Located near Downtown Savannah and port logistics corridors, the property benefits from prominent frontage along Wheaton Street. The positioning is intended to support day-to-day accessibility for customers and clients as well as connectivity to the broader Savannah-area commercial and logistics flow.
For buyers and operators seeking flexible real estate that can accommodate retail-forward activity alongside warehousing and light industrial functions, the I-L-T zoning is a practical fit. The combination of frontage-oriented placement and a zoning framework that supports multiple commercial use categories can help streamline planning for prospective tenants within the allowed use list.
Key Highlights
- Retail‑flex property with prominent frontage along Wheaton Street
- I‑L‑T zoning supports a variety of commercial uses
- Permitted use categories include showroom, warehouse, distribution, and contractor services
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
$240,146
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
8.00%
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%
$4,802,920
$4.8M
Cap Rate 7%
$3,430,657
$3.4M
Cap Rate 9%
$2,668,289
$2.7M
Market Conditions
NOI Build-Up for 16,000 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
$412.8K $25.80/SF
− Vacancy
−$43.3K −$2.71/SF
EGI
$369.5K $23.09/SF
− OpEx
−$129.3K −$8.08/SF
NOI
$240.1K $15.01/SF
Area
Savannah, GA
Vacancy
10.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
35.00%
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%
$4,802,920
Cap Rate 7%
$3,430,657
Cap Rate 9%
$2,668,289
Alternative Uses
Best Use
Warehouse
$14.95M
$13.08M – $17.45M
NOI $1,046,713 @ 7.0% cap · market cap 34.89%
Second Best
Industrial
$12.31M
$10.77M – $14.37M
NOI $861,999 @ 7.0% cap · market cap 28.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,858
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
Market
Vacancy Rate% for Industrial in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A retail-flex property with prominent Wheaton Street frontage and I-L-T zoning for multiple commercial use types.
Where is this flex space located?
The property is located at 737 Wheaton Street Savannah, GA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Retail‑flex property with prominent frontage along Wheaton Street; I‑L‑T zoning supports a variety of commercial uses; Permitted use categories include showroom, warehouse, distribution, and contractor services
