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    Property profile & analytics

    1815 E Victory Dr Savannah, GA 31405

    • Community centers
    • 51,177 SF
    • 4.51 lot acres
    For Lease
    View listing
    Last Sale
    Feb 23, 2021
    $20,650,000
    Value Estimations
    $17,920,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-3580479
    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

    • Amazon Hub Locker - Victory / Postal Service / Courier Service
    • Whole Foods Market / Grocery & Convenience Store / Food Market
    • WFM Coffee Bar / Cafe & Coffee Shop
    • Papas Lockers Self Storage Unit / Storage Facility
    • The Lash Lounge / Hair Salon

    Property Details for 1815 E Victory Dr

    Year built
    2013
    Lot size
    4.51 lot acres
    Property size
    51,177 SF
    Zone code
    BH
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    2-0078 -13-018
    APU
    2007813018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $11,010,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,970,000
      6.5%
      $11,050,000
      7%
      $10,260,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $17,955,000
      Current use
      COMMERCIAL (GENERAL)
      $29,500,000
      Change: +64% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $28,140,000
      Change: +57% Conversion: Difficult
      RESTAURANT
      $27,985,000
      Change: +56% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $20,175,000
      Change: +12% Conversion: Difficult
      WAREHOUSE, STORAGE
      $16,590,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $16,170,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.0715
    Latitude
    32.0434
    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
    $825,120
    $5,981,440
    $6,806,560
    -
    $2,062,800
    $14,953,600
    $17,016,400

    Comparable in this City

    • Value Estimation by Request
      5,461 SF

      1800 Victory Dr

      MINI-MALL • 5,461 SF
      1800 Victory Dr, Savannah, GA 31404-4100
      View Details
    • Value Estimation
      $1,125,000
      12,800 SF

      1801 Victory Dr

      MINI-MALL • 12,800 SF
      1801 Victory Dr, Savannah, GA 31404-4127
      View Details
    • Value Estimation
      $850,000
      6,400 SF

      1915 Victory Dr

      MINI-MALL • 6,400 SF
      1915 Victory Dr, Savannah, GA 31404-3720
      View Details
    • Value Estimation
      $4,575,000
      11,560 SF

      1935 Victory Dr

      MINI-MALL • 11,560 SF
      1935 Victory Dr, Savannah, GA 31404-3737
      View Details
    • Value Estimation
      $1,540,000
      12,860 SF

      4431 Skidaway Rd

      SHOPPING CENTER, STRIP CENTER • 12,860 SF
      4431 Skidaway Rd, Savannah, GA 31404
      View Details
    • Value Estimation
      $15,370,000
      101,220 SF

      1901 Victory Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 101,220 SF
      1901 Victory Dr, Savannah, GA 31404-3714
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,936 SF

      Retail Property on Waters Avenue

      Retail property available for sale in Savannah, Georgia.
      1721 Waters Ave, Savannah, GA 31404
      View Details
    • New
      $775,000
      1,740 SF

      Victory Drive Commercial Building For Sale

      1,740 SF commercial building with high visibility and frontage.
      3021 E Victory Dr, Savannah, GA 31404
      View Details
    • $650,000
      2,952 SF

      Savannah Mixed-Use Investment Opportunity

      Commercial building and residential cottage near high-traffic area.
      2203 Skidaway Rd, Savannah, GA 31404
      View Details
    • $650,000
      2,952 SF

      Savannah Live-Work Commercial Opportunity

      Commercial building with residential cottage near high-traffic area.
      2203 Skidaway Rd, Savannah, GA 31404
      View Details
    • $650,000
      2,952 SF

      Savannah Live-Work Commercial Opportunity

      Commercial building with residential cottage near high-traffic area.
      2203 Skidaway Rd, Savannah, GA 31404
      View Details
    • $845,000
      6,000 SF

      Versatile Commercial Space on Skidaway Road

      High-traffic location suitable for retail, office, or light commercial services.
      3104 Skidaway Rd, Savannah, GA 31404
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      167,690 SF

      Savannah Retail Center Investment Opportunity

      Prime Savannah retail space available.
      1900 Victory Dr, Savannah, GA 31404
      View Details
    • Contact for pricing
      3,655 SF

      Savannah Retail Space - Victory Crossings

      High-traffic Savannah retail space available.
      1800 Victory Dr, Savannah, GA 31404
      View Details
    • $15 SF/Yr
      61,685 SF

      Victory Drive Retail Space Available

      Retail spaces for lease in Victory Drive Shopping Center.
      2125 E Victory Dr, Savannah, GA 31404
      View Details
    • Contact for pricing
      1,600 SF

      High-Traffic Retail Space Available

      Retail space in a heavily trafficked Savannah shopping center.
      1915 E Victory Dr, Savannah, GA 31404
      View Details
    • Contact for pricing
      8,045 SF

      Retail Space with Renovation Potential

      Retail space available in Savannah, Georgia, with renovation potential.
      2000 E Victory Dr, Savannah, GA 31404
      View Details
    • $6 SF/Yr
      Pending

      Spacious Commercial Building on Waters

      Spacious commercial building with roll-up doors near high-traffic intersection.
      3936 Waters Avenue Ct, Savannah, GA 31404
      View Details
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    Savannah, GA 31405
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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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