Renovated Flex Space on
For Sale
Contact for pricing
5659 Ogeechee Rd, Savannah, GA 31405
Newly renovated flex space on a growing commercial corridor.
Property Size1,800 SF
Lot Size0.73 Acres
Price / SF$416.67
Days on Market985
Property Features for 5659 Ogeechee Rd
General Information
Standard status
Active
Size
1,800 SF
Lot size
0.73 Acres
Property subtype
Industrial, Office, Retail
Zoning
AT
Listing Agency:
DAI Commercial Realty
(912) 944-4410
Listed By:
Katie Chancy · License #GA 351571
Source:
Crexi
Added: Dec 13, 2023
Changed: Aug 24
Last Checked: Aug 14 at 5:59AM
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 DAI Commercial Realty
Investment Insights
Based on property information with market context.
This property features a newly renovated 1,800 sq ft flex space on approximately 0.73 acres of land in Chatham County, Georgia. The turnkey building is strategically positioned along Ogeechee Rd/Highway 17, offering accessibility and visibility with 100 feet of frontage on one of the county's fastest-growing commercial corridors. The building features new HVAC, plumbing, electrical, and windows, making it move-in ready for a wide range of uses, including service-based businesses, retail, and office. Ownership is prepared to support rezoning efforts. Additional adjacent acreage is available upon request. Owner financing is possibly available.
Key Highlights
- Newly renovated 1,800 sq ft flex space with new HVAC, plumbing, electrical, and windows.
- Exceptional accessibility and visibility with 100 feet of frontage on Ogeechee Rd/Highway 17.
- +/- .73 acres of land in Chatham County, Georgia.
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
$27,016
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
3.60%
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%
$540,320
$540.3K
Cap Rate 7%
$385,943
$385.9K
Cap Rate 9%
$300,178
$300.2K
Market Conditions
NOI Build-Up for 1,800 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
$46.4K $25.80/SF
− Vacancy
−$4.9K −$2.71/SF
EGI
$41.6K $23.09/SF
− OpEx
−$14.5K −$8.08/SF
NOI
$27.0K $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%
$540,320
Cap Rate 7%
$385,943
Cap Rate 9%
$300,178
Alternative Uses
Best Use
Industrial
$1.39M
$1.21M – $1.62M
NOI $96,975 @ 7.0% cap · market cap 12.93%
Second Best
Flex RnD
$385.9K
$337.7K – $450.3K
NOI $27,016 @ 7.0% cap · market cap 3.60%
Theoretical Best
Warehouse
$1.68M
$1.47M – $1.96M
NOI $117,755 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
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 - Newly renovated flex space on a growing commercial corridor.
Where is this flex space located?
The property is located at 5659 Ogeechee Rd Savannah, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Newly renovated 1,800 sq ft flex space with new HVAC, plumbing, electrical, and windows.; Exceptional accessibility and visibility with 100 feet of frontage on Ogeechee Rd/Highway 17.; +/- .73 acres of land in Chatham County, Georgia.
