Office and Storage Flex
For Sale
$285,000
8111 Waters Ave, Savannah, GA 31406
Office space with rear storage, supported by ample off-street parking for flexible tenant operations.
Property Size868 SF
Price / SF$328.34
Days on Market165
Property Features for 8111 Waters Ave
General Information
Standard status
Active
Size
868 SF
Listing Agency:
Salt Marsh Realty LLC
(912) 247-0447
Listed By:
Jonathan K. Haley · License #302195
(912) 247-0447
Source:
Exprealty
Added: Feb 27
Changed: Aug 8
Last Checked: Aug 10 at 8:16AM
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 Salt Marsh Realty LLC
Investment Insights
Based on property information with market context.
This property offers office space alongside storage located in the rear of the building. It was previously used as a pool supply company and included a dedicated sales office, making the layout well-suited for businesses that need both a customer-facing workspace and back-of-house storage. Off-street parking is available, supporting day-to-day access for employees and visitors.
The property is located near Truman Parkway and sits conveniently between Southside and historic downtown. This positioning can be helpful for operators seeking an accessible route for client visits while remaining close to established areas of Savannah.
For prospective tenants or buyers, the combination of front office space and rear storage supports a range of light commercial uses where administrative space and inventory or equipment storage are both required. Ample off-street parking further supports practical operations, whether you’re running a service business, a sales-focused office, or another flex-style setup that benefits from having storage separated from the main work area.
The property is located near Truman Parkway and sits conveniently between Southside and historic downtown. This positioning can be helpful for operators seeking an accessible route for client visits while remaining close to established areas of Savannah.
For prospective tenants or buyers, the combination of front office space and rear storage supports a range of light commercial uses where administrative space and inventory or equipment storage are both required. Ample off-street parking further supports practical operations, whether you’re running a service business, a sales-focused office, or another flex-style setup that benefits from having storage separated from the main work area.
Key Highlights
- Office space with rear storage area located in the rear of the property
- Plenty of off‑street parking
- Previously used as a pool supply company and sales office
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
$13,028
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
4.57%
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%
$260,560
$260.6K
Cap Rate 7%
$186,114
$186.1K
Cap Rate 9%
$144,756
$144.8K
Market Conditions
NOI Build-Up for 868 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
$22.4K $25.80/SF
− Vacancy
−$2.4K −$2.71/SF
EGI
$20.0K $23.09/SF
− OpEx
−$7.0K −$8.08/SF
NOI
$13.0K $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%
$260,560
Cap Rate 7%
$186,114
Cap Rate 9%
$144,756
Alternative Uses
Best Use
Industrial
$668.0K
$584.5K – $779.4K
NOI $46,763 @ 7.0% cap · market cap 16.41%
Second Best
Flex RnD
$186.1K
$162.9K – $217.1K
NOI $13,028 @ 7.0% cap · market cap 4.57%
Theoretical Best
Warehouse
$811.2K
$709.8K – $946.4K
NOI $56,784 @ 7.0% cap · market cap 19.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office space with rear storage, supported by ample off-street parking for flexible tenant operations.
Where is this office units located?
The property is located at 8111 Waters Ave Savannah, GA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Office space with rear storage area located in the rear of the property; Plenty of off‑street parking; Previously used as a pool supply company and sales office
