Standalone Office
For Sale
$199,990
F-1010 E Victory Dr, Savannah, GA 31405
O-I zoning supports professional, office, or institutional use subject to applicable approvals.
Property Size900 SF
Price / SF$222.21
Days on Market24
Property Features for F-1010 E Victory Dr
General Information
Standard status
Active
Size
900 SF
Property subtype
Residential
Zoning
O-I
Listing Agency:
Engel & Volkers
(912) 238-0874
Listed By:
Sarah J. Pounders · License #394165
(404) 210-9383
Source:
Exprealty
Added: Sep 9
Changed: Sep 29
Last Checked: Oct 1 at 12:38PM
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 Engel & Volkers
Investment Insights
Based on property information with market context.
This standalone condominium offers 900 SF configured with a central reception or shared area, two private rooms, a full bathroom, and a kitchen or break area. A rear entry connects to the alley, while dedicated parking spaces are positioned at the front. The property is zoned O-I (Office-Institutional), with professional, office, or institutional uses subject to applicable zoning requirements and approvals. Sold in As-Is Condition.
Located at F-1010 E Victory Dr in Savannah, the property sits directly across from Daffin Park and provides access to the Waters Avenue corridor, Victory Drive, Parkside, Live Oak, Ardsley Park, and surrounding Midtown Savannah neighborhoods.
Located at F-1010 E Victory Dr in Savannah, the property sits directly across from Daffin Park and provides access to the Waters Avenue corridor, Victory Drive, Parkside, Live Oak, Ardsley Park, and surrounding Midtown Savannah neighborhoods.
Key Highlights
- 900 SF standalone condominium
- O‑I (Office‑Institutional) zoning
- Central reception or common area with two private rooms
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
$12,512
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
6.26%
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%
$250,240
$250.2K
Cap Rate 7%
$178,743
$178.7K
Cap Rate 9%
$139,022
$139.0K
Market Conditions
NOI Build-Up for 900 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
$20.0K $22.20/SF
− Vacancy
−$3.3K −$3.66/SF
EGI
$16.7K $18.54/SF
− OpEx
−$4.2K −$4.63/SF
NOI
$12.5K $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%
$250,240
Cap Rate 7%
$178,743
Cap Rate 9%
$139,022
Alternative Uses
Best Use
Office B
$178.7K
$156.4K – $208.5K
NOI $12,512 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$841.1K
$736.0K – $981.3K
NOI $58,878 @ 7.0% cap · market cap 29.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,275
Businesses Nearby
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 Office in Savannah, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - O-I zoning supports professional, office, or institutional use subject to applicable approvals.
Where is this office units located?
The property is located at F-1010 E Victory Dr Savannah, GA.
What is the asking price?
The asking price for this property is $199,990.
What are key features of this property?
This property features: 900 SF standalone condominium; O‑I (Office‑Institutional) zoning; Central reception or common area with two private rooms
