Second-Floor Office
For Sale
$145,000
B-8-7505 Waters Ave, Savannah, GA 31406
817-square-foot office unit in Park South Office Park, surrounded by professional services, retail, and dining.
Property Size817 SF
Price / SF$177.48
Days on Market35
Property Features for B-8-7505 Waters Ave
General Information
Standard status
Active
Size
817 SF
Additional Details
Floor
2nd floor
Highway Access
Yes
Listing Agency:
Velore Brown Real Estate, LLC
(912) 323-0027
Listed By:
Velore Brown · License #368917
(912) 323-0027
Source:
Exprealty
Added: Jul 28
Changed: Aug 31
Last Checked: Aug 31 at 6:58PM
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 Velore Brown Real Estate, LLC
Investment Insights
Based on property information with market context.
This 817-square-foot office condo occupies the second floor of Park South Office Park. The property provides a professional office setting within a development that includes a mix of professional services, retail shops, and dining options.
Access to major highways supports convenient travel to and from the office park. The unit is positioned within a professional business environment that may accommodate law firms, consulting agencies, and technology startups, as identified in the property information.
Access to major highways supports convenient travel to and from the office park. The unit is positioned within a professional business environment that may accommodate law firms, consulting agencies, and technology startups, as identified in the property information.
Key Highlights
- 817‑square‑foot office condo
- Second‑floor unit within Park South Office Park
- Surrounded by professional services, retail shops, and dining options
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
$11,359
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
7.83%
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%
$227,180
$227.2K
Cap Rate 7%
$162,271
$162.3K
Cap Rate 9%
$126,211
$126.2K
Market Conditions
NOI Build-Up for 817 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
$18.1K $22.20/SF
− Vacancy
−$3.0K −$3.66/SF
EGI
$15.1K $18.54/SF
− OpEx
−$3.8K −$4.63/SF
NOI
$11.4K $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%
$227,180
Cap Rate 7%
$162,271
Cap Rate 9%
$126,211
Alternative Uses
Best Use
Office B
$162.3K
$142.0K – $189.3K
NOI $11,359 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$763.5K
$668.1K – $890.8K
NOI $53,448 @ 7.0% cap · market cap 36.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
392
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
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Frequently Asked Questions
What type of property is this?
Office units - 817-square-foot office unit in Park South Office Park, surrounded by professional services, retail, and dining.
Where is this office units located?
The property is located at B-8-7505 Waters Ave Savannah, GA.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 817‑square‑foot office condo; Second‑floor unit within Park South Office Park; Surrounded by professional services, retail shops, and dining options
