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    Property profile & analytics

    1211 Bull St Savannah, GA 31401

    • Office buildings
    • 5,968 SF
    • 0.17 lot acres
    For Sale
    View listing
    $2,650,000
    Last Sale
    Apr 16, 2024
    $2,500,000
    Value Estimations
    Cap Rate Potential
    3.5%
    Office buildings
    Location Intelligence
    Property ID
    US22-1007858
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Huffman Law Firm, LLC / Law Firm / Family Law Attorney
    • Tucker Business Machines / Computer Support And Services

    Property Details for 1211 Bull St

    Year built
    1934
    Lot size
    0.17 lot acres
    Property size
    5,968 SF
    Zone code
    BC
    Property type
    Office buildings
    APN
    2-0044 -36-002
    APU
    2004436002

    Description

    This exceptional two-story office building, located at 1211 Bull Street in Savannah, Georgia, presents a unique investment opportunity. Situated on a 0.17-acre lot at the highly visible intersection of Bull and Henry Streets, this property benefits from significant foot and vehicle traffic on the bustling Bull Street corridor, connecting Forsyth Park and the Starland District. Built in 1934 and thoughtfully renovated in 2007, the building boasts a low-maintenance stucco exterior and bright, sunny interiors. The interior features a full kitchen equipped with a stove, sink, and refrigerator, along with one full bathroom and one half bathroom. Ample storage space is also available. The property includes 12 off-street parking spaces, a significant advantage in this desirable downtown location. Zoned BC - Traditional Commercial-2 (TC-2), this building offers excellent visibility and natural light. Its proximity to Forsyth Park and numerous restaurants and cafes adds to its appeal. The neutral interior design allows for easy customization to suit a variety of business needs. This move-in ready property is priced at $2,650,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,500,000
      ML approach
      $2,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,342,000
      Market price range: $1.23M - $4.72M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,670,000
      Current use
      INDUSTRIAL (GENERAL)
      $3,280,000
      Change: +23% Conversion: Difficult
      RESTAURANT
      $3,265,000
      Change: +22% Conversion: Moderate
      RETAIL STORES
      $2,940,000
      Change: +10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,700,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,355,000
      Change: -12% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.098
    Latitude
    32.0636
    CBSA code
    42340
    CBSA name
    SAVANNAH, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $30,680
    $305,960
    $336,640
    -
    $76,700
    $764,900
    $841,600

    Comparable in this City

    • Value Estimation
      $220,000
      2,940 SF

      410 Drayton St

      OFFICE BUILDING • 2,940 SF
      410 Drayton St, Savannah, GA 31401-5602
      View Details
    • Value Estimation
      $230,000
      21,646 SF

      100 Bull St

      OFFICE BUILDING • 21,646 SF
      100 Bull St, Savannah, GA 31401-3373
      View Details
    • Value Estimation
      $605,000
      72,150 SF

      22 Barnard St

      OFFICE BUILDING • 72,150 SF
      22 Barnard St, Savannah, GA 31401-2522
      View Details
    • Value Estimation
      $200,000
      425 SF

      122 Broughton St, Unit 3

      OFFICE BUILDING • 425 SF
      122 Broughton St, Savannah, GA 31401-3212
      View Details
    • Value Estimation
      $180,000
      1,995 SF

      925 37th St

      OFFICE BUILDING • 1,995 SF
      925 37th St, Savannah, GA 31401-9213
      View Details
    • Value Estimation
      $175,000
      2,662 SF

      1808 Abercorn St

      OFFICE BUILDING • 2,662 SF
      1808 Abercorn St, Savannah, GA 31401-8143
      View Details

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    Similar Nearby for Lease

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      Savannah Office Space for Lease

      Flexible workspace solutions in Savannah, GA.
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      Savannah's Premier Office Space

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    1211 Bull St
    Savannah, GA 31401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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