Mixed-Use Medical Office
For Sale
Contact for pricing
908 ABERCORN ST, Savannah, GA 31401
Medical office property with off-street parking in Downtown Savannah near Forsyth Park.
Property Size3,915 SF
Price / SF$332.06
Days on Market8
Property Features for 908 ABERCORN ST
General Information
Standard status
Active
Size
3,915 SF
Total Parking Spaces
10
Property subtype
Mixed Use
Zoning
TN-2
Amenities
off-street parking
Building Details
Year Built
1956
Year Renovated
1986
Buildings
1
Stories
1
Units
1
Listing Agency:
Cushman & Wakefield - Savannah, Georgia
(912) 236-8992
Listed By:
John Gilbert · License #GA 315616
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 10 at 10:27AM
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 Cushman & Wakefield - Savannah, Georgia
Investment Insights
Based on property information with market context.
This mixed-use property is configured as a medical office building with off-street parking. Constructed in 1956, the asset carries TN-2 zoning and offers an established commercial building format suited to office and medical office use.
The property is positioned in Downtown Savannah, one block from Forsyth Park. The surrounding area includes Hotel Bardo, SCAD’s redevelopment of Chatham Apartments, and SEDA’s headquarters, with major neighborhood investment underway.
The property is positioned in Downtown Savannah, one block from Forsyth Park. The surrounding area includes Hotel Bardo, SCAD’s redevelopment of Chatham Apartments, and SEDA’s headquarters, with major neighborhood investment underway.
Key Highlights
- Medical office building with off‑street parking
- TN‑2 zoning supports the property’s commercial setting
- Located in Downtown Savannah, one block from Forsyth Park
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
$54,429
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
4.19%
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%
$1,088,580
$1.1M
Cap Rate 7%
$777,557
$777.6K
Cap Rate 9%
$604,767
$604.8K
Market Conditions
NOI Build-Up for 3,915 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
$86.9K $22.20/SF
− Vacancy
−$14.3K −$3.66/SF
EGI
$72.6K $18.54/SF
− OpEx
−$18.1K −$4.63/SF
NOI
$54.4K $13.90/SF
Area
Savannah, GA
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,088,580
Cap Rate 7%
$777,557
Cap Rate 9%
$604,767
Alternative Uses
Best Use
Office B
$777.6K
$680.4K – $907.2K
NOI $54,429 @ 7.0% cap · market cap 4.19%
Second Best
Healthcare Medical
$710.6K
$621.8K – $829.1K
NOI $49,745 @ 7.0% cap · market cap 3.83%
Theoretical Best
Warehouse
$3.66M
$3.20M – $4.27M
NOI $256,117 @ 7.0% cap · market cap 19.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,275
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 Office in Savannah, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Medical office property with off-street parking in Downtown Savannah near Forsyth Park.
Where is this mixed-use property located?
The property is located at 908 ABERCORN ST Savannah, GA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Medical office building with off‑street parking; TN‑2 zoning supports the property’s commercial setting; Located in Downtown Savannah, one block from Forsyth Park
