Triplex with Detached Carriage
For Sale
$699,000
836 E Park Ave, Savannah, GA 31401
Three-unit property with a workshop, screened porch, and separate carriage house.
Property Size360 SF
Price / SF$187.25
Days on Market531
Property Features for 836 E Park Ave
General Information
Standard status
Active
Size
360 SF
Property subtype
Residential
Additional Details
Warehouse Space
360 SF
Building Details
Building Size
360 SF
Listing Agency:
Seabolt Real Estate
(912) 233-6609
Listed By:
Casey Anderson · License #362190
(706) 338-7321
Source:
Exprealty
Added: Mar 21, 2025
Changed: Aug 31
Last Checked: Sep 2 at 1:59AM
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 Seabolt Real Estate
Investment Insights
Based on property information with market context.
This triplex property combines a primary residence, detached carriage house, and workshop across 3733 sq ft. The main house offers 4 bedrooms and 3.5 bathrooms within 2573 sq ft, while the 720 sq ft carriage house provides 1 bedroom, 1 bathroom, laundry, and parking. An additional 360 sq ft workshop includes a half bath and can support storage or business use. Interior features include an open layout, family room with a see-through fireplace, screened-in porch, and hot tub.
The property is located at 836 E Park Ave in Savannah, GA, just minutes from Historic Downtown Savannah and 15 miles from Tybee Island. A separate buildable lot with its own parcel ID is also associated with the property. The carriage house is described as suitable for short-term rentals or guest accommodations, creating a flexible residential and rental configuration.
The property is located at 836 E Park Ave in Savannah, GA, just minutes from Historic Downtown Savannah and 15 miles from Tybee Island. A separate buildable lot with its own parcel ID is also associated with the property. The carriage house is described as suitable for short-term rentals or guest accommodations, creating a flexible residential and rental configuration.
Key Highlights
- Three‑unit property totaling 3733 sq ft
- Main house includes 4 bedrooms, 3.5 bathrooms, and 2573 sq ft
- Detached 720 sq ft carriage house has 1 bedroom, 1 bathroom, laundry, and parking
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
$39,581
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
5.66%
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%
$791,620
$791.6K
Cap Rate 7%
$565,443
$565.4K
Cap Rate 9%
$439,789
$439.8K
Market Conditions
NOI Build-Up for 3,733 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
$60.5K $16.20/SF
− Vacancy
−$3.9K −$1.05/SF
EGI
$56.5K $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 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%
$791,620
Cap Rate 7%
$565,443
Cap Rate 9%
$439,789
Alternative Uses
Best Use
Multifamily LT 5
$565.4K
$494.8K – $659.7K
NOI $39,581 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$524.4K
$458.8K – $611.8K
NOI $36,706 @ 7.0% cap · market cap 5.25%
Theoretical Best
Warehouse
$3.49M
$3.05M – $4.07M
NOI $244,211 @ 7.0% cap · market cap 34.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a workshop, screened porch, and separate carriage house.
Where is this triplex located?
The property is located at 836 E Park Ave Savannah, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑unit property totaling 3733 sq ft; Main house includes 4 bedrooms, 3.5 bathrooms, and 2573 sq ft; Detached 720 sq ft carriage house has 1 bedroom, 1 bathroom, laundry, and parking
