Park South Office
For Sale
$749,900
C14-7505 Waters Avenue, Savannah, GA 31406
Combined office units in high-demand Savannah commercial corridor.
Property Size4,214 SF
Price / SF$177.95
Days on Market275
Property Features for C14-7505 Waters Avenue
General Information
Standard status
Active
Size
4,214 SF
Listing Agency:
Better Homes and Gardens Real
(912) 303-8405
Listed By:
Steffany P. Farmer · License #168178
(912) 484-5552
Source:
Exprealty
Added: Jan 14
Changed: Oct 13
Last Checked: Oct 15 at 2:00AM
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
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Investment Insights
Based on property information with market context.
This is an opportunity to acquire up to 4,214 square feet of office condominium space. The space is comprised of five combined units (9, 10, 11, 12 & 14) in the Park South Office Complex. The common walls between the units have been opened with cased openings, creating a connected and functional layout while still allowing the units to remain clearly defined and easily reconfigured if desired. The space includes two downstairs units and three upstairs units with three private exterior front entrances and front-door parking. There are no shared interior hallways. Each unit maintains its own HVAC system, water heater, and private half bath, allowing for independent operation. The middle upstairs unit currently features a kitchenette that can easily be converted back to office space. Unit 14, an upstairs end unit, offers a view overlooking the corner park. The building roof was recently replaced. The layout is suitable for therapists, medical providers, attorneys, consultants, or any business requiring a flexible office configuration. HOA dues will be $170 per month beginning in January and include landscaping, exterior repairs, parking lot maintenance, and the roof. The property is centrally located among established neighboring businesses in a high-demand commercial corridor.
Key Highlights
- Up to 4,214 sq ft of flexible office space in a desirable location.
- Multiple configuration options: use as a large combined space or divide into separate units.
- Three private exterior entrances and front‑door parking; no shared interior hallways.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,586
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,171,720
$1.2M
Cap Rate 7%
$836,943
$836.9K
Cap Rate 9%
$650,956
$651.0K
Market Conditions
NOI Build-Up for 4,214 SF
Gross rent
$93.6K $22.20/SF
− Vacancy
−$15.4K −$3.66/SF
EGI
$78.1K $18.54/SF
− OpEx
−$19.5K −$4.63/SF
NOI
$58.6K $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%
$1,171,720
Cap Rate 7%
$836,943
Cap Rate 9%
$650,956
Alternative Uses
Best Use
Office B
$836.9K
$732.3K – $976.4K
NOI $58,586 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.94M
$3.45M – $4.59M
NOI $275,678 @ 7.0% cap · market cap 36.76%
Zoning and permitted uses should be independently verified with authorities.
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Savannah, GA
Frequently Asked Questions
What type of property is this?
Office units - Combined office units in high-demand Savannah commercial corridor.
Where is this office units located?
The property is located at C14-7505 Waters Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Up to 4,214 sq ft of flexible office space in a desirable location.; Multiple configuration options: use as a large combined space or divide into separate units.; Three private exterior entrances and front‑door parking; no shared interior hallways.
