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    36 Martin Luther King Jr Blvd Savannah, GA 31401

    Sponsored
    For Sale
    $8,500,000

    Mixed-use hotel & restaurant investment

    Property size:
    10,215 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 36 Martin Luther King Jr Blvd in Savannah, Georgia's Historic Landmark District, presents a compelling investment opportunity. The 10,215 square foot building, constructed in 1870 and renovated in 2019, boasts a four-story structure encompassing twelve short-term rental units operating as an apartment hotel and a ground-floor restaurant operating under a triple-net (NNN) lease. The property is currently 100% occupied, with occupancy commencing December 16, 2023, and a five-year lease term with a 2% annual rent bump in year five. The asking price is $8,500,000. The property features twelve keys, twelve units, and is zoned D-CBD. Its prime location within Savannah's vibrant historic district ensures high foot traffic and proximity to major attractions, contributing to strong revenue generation. The existing restaurant lease and the short-term rental units provide a stable income stream with significant potential for revenue growth through strategic management and operational enhancements. This owner/user investment opportunity offers a blend of established income and upside potential in a thriving tourism market. The property's Asset Property Number (APN) is 20016 16005. Lease options are available.

    Property Features for 36 Martin Luther King Jr Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    10,215 SF
    Class
    C

    Building Details

    Year Built/Renovated
    1870/2019
    Buildings
    1
    Stories
    4
    Units
    12

    HighLights

    • Historic Landmark District location with high tourist traffic.
    • NNN‑leased ground‑floor restaurant plus twelve short‑term rental (STR) units; significant revenue growth potential.
    • Increase ADR and RevPAR through improved pricing, branding, and distribution.
    • Strong Savannah hospitality market demand fueled by tourism and economic growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Windrose Apartment Hotel Hotel Órale Tacos + Tequila Mexican Restaurant The Fat Radish Restaurant

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.0968581
    Latitude
    32.0809317

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    FAQs

    What type of property is this?
    Restaurant - Mixed-use hotel & restaurant investment
    Where is this restaurant located?
    The property is located at 36 Martin Luther King Jr Blvd Savannah, GA.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: Historic Landmark District location with high tourist traffic.; NNN-leased ground-floor restaurant plus twelve short-term rental (STR) units; significant revenue growth potential.; Increase ADR and RevPAR through improved pricing, branding, and distribution.
    Request Owner's contact information
    36 Martin Luther King Jr Blvd Savannah, GA 31401
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    Savannah, GA 31401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    36 Martin Luther King Jr Blvd Savannah, GA 31401
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