First-Floor Office
For Sale
$159,000
C11-7505 Waters Avenue, Savannah, GA 31406
Independent access, dedicated building systems, and front-door parking support professional office use.
Property Size829 SF
Price / SF$191.80
Days on Market229
Property Features for C11-7505 Waters Avenue
General Information
Standard status
Active
Size
829 SF
Additional Details
Floor
First Floor
HOA Fee
$170
Listing Agency:
Better Homes and Gardens Real
(912) 484-5552
Listed By:
Steffany P. Farmer · License #168178
(912) 484-5552
Source:
Exprealty
Added: Jan 14
Changed: Aug 28
Last Checked: Aug 30 at 11:27PM
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 Better Homes and Gardens Real
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.
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 = 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
$11,525
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
7.25%
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%
$230,500
$230.5K
Cap Rate 7%
$164,643
$164.6K
Cap Rate 9%
$128,056
$128.1K
Market Conditions
NOI Build-Up for 829 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
$18.4K $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 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%
$230,500
Cap Rate 7%
$164,643
Cap Rate 9%
$128,056
Alternative Uses
Best Use
Office B
$164.6K
$144.1K – $192.1K
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
NOI $54,233 @ 7.0% cap · market cap 34.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
