Listing Agency: Better Homes and Gardens Real j***@bebetterlegacy.com Show Phone

Listed By: Steffany P. Farmer · License #168178 Show Phone

Source: Exprealty

Added: Jan 14 Changed: Oct 15 Last Checked: Oct 15 at 12:05AM

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Investment Insights

Based on property information with market context.

Unit 11 is an 829-square-foot office condominium on the first floor of the Park South Office Complex. The suite has a private exterior entrance, eliminating the need to use a shared interior hallway, and parking is available directly at the front door. An individual HVAC system, water heater, and private half bath support independent day-to-day operation.

The building has a recently installed roof. HOA services include landscaping, exterior repairs, parking lot maintenance, and roof maintenance. The property is located at C11-7505 Waters Avenue in Savannah, Georgia, within an established commercial setting along Waters Avenue.

Key Highlights

• 829 SF first‑floor office condominium at C11‑7505 Waters Avenue, Savannah, GA 31406
• Private exterior entrance with no shared interior hallway
• Front‑door parking for convenient access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,525

Cap Rate

7.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$230,500 $230.5K

Cap Rate 7%

$164,643 $164.6K

Cap Rate 9%

$128,056 $128.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 829 SF

Gross rent

$18.4K $22.20/SF

− Vacancy

−$3.0K −$3.66/SF

EGI

$15.4K $18.54/SF

− OpEx

−$3.8K −$4.63/SF

NOI

$11.5K $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 Rate 5%

$230,500

Cap Rate 7%

$164,643

Cap Rate 9%

$128,056

Alternative Uses

Best Use

Office B

$164.6K

$144.1K – $192.1K (±1% cap)

NOI $11,525 @ 7.0% cap · market cap 7.25%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$774.8K

$677.9K – $903.9K (±1% cap)

NOI $54,233 @ 7.0% cap · market cap 34.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Building Supply Spa & Massage Center Skin Care Clinic Pharmacy Parking Lot & Garage Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

488

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

13.1% 2019

9.9% 2020

8.7% 2021

8.4% 2022

4.3% 2023

4.9% 2024

3.1% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Independent access, dedicated building systems, and front-door parking support professional office use.

Where is this office units located?

The property is located at C11-7505 Waters Avenue Savannah, GA.

What is the asking price?

The asking price for this property is $159,000.

What are key features of this property?

This property features: 829 SF first‑floor office condominium at C11‑7505 Waters Avenue, Savannah, GA 31406; Private exterior entrance with no shared interior hallway; Front‑door parking for convenient access