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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    302 41st St Savannah, GA 31401-9129

    • Retail space
    • 1,075 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    3.5%
    Retail space
    Location Intelligence
    Property ID
    US22-2548411
    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

    • Towne / Beauty Salon

    Property Details for 302 41st St

    Year built
    1930
    Lot size
    0.14 lot acres
    Property size
    1,075 SF
    Zone code
    BC
    Property type
    Retail space
    APN
    2-0075 -14-008
    APU
    2007514008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $282,000
      Market price range: $283k - $780k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $530,000
      Current use
      COMMERCIAL (GENERAL)
      $485,000
      Change: -8% Conversion: Easy
      OFFICE BUILDING
      $480,000
      Change: -9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $425,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.0978
    Latitude
    32.0529
    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
    $14,560
    $22,280
    $36,840
    -
    $36,400
    $55,700
    $92,100

    Comparable in this City

    • Value Estimation
      $550,000
      14,100 SF

      423 Riv St

      RETAIL STORES (PERSONAL SERVICES) • 14,100 SF
      423 Riv St, Savannah, GA 31401-1222
      View Details
    • Value Estimation
      $335,000
      17,785 SF

      5 Broughton St Sta, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 17,785 SF
      5 Broughton St Sta, Savannah, GA 31401-3365
      View Details
    • Value Estimation
      $355,000
      2,923 SF

      2506 Abercorn St

      RETAIL STORES (PERSONAL SERVICES) • 2,923 SF
      2506 Abercorn St, Savannah, GA 31401
      View Details
    • Value Estimation
      $365,000
      425 SF

      2424 De Soto Ave

      RETAIL STORES (PERSONAL SERVICES) • 425 SF
      2424 De Soto Ave, Savannah, GA 31401-8536
      View Details
    • Value Estimation
      $425,000
      10,260 SF

      214 Drayton St

      RETAIL STORES (PERSONAL SERVICES) • 10,260 SF
      214 Drayton St, Savannah, GA 31401-4021
      View Details
    • Value Estimation
      $290,000
      950 SF

      301 Broughton St, Unit 2B

      RETAIL STORES (PERSONAL SERVICES) • 950 SF
      301 Broughton St, Savannah, GA 31401-3261
      View Details

    Similar Nearby for Sale

    • $4,000,000
      11,292 SF

      Restaurant with additional 3 buildings to develop

      Individual retail properties • 11,292 SF
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      2,729 SF

      Savannah Corner Commercial Property

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      Iconic Starland Victorian For Sale

      Landmark Victorian in Savannah's vibrant Starland neighborhood, offering diverse potential.
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    • $5,500,000
      21,920 SF

      Savannah Commercial Buildings on MLK

      Two commercial buildings with retail and office space available for sale.
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      $895,000
      2,800 SF

      Savannah Mixed-Use Commercial Property

      TC-1 zoned property in Savannah's Streetcar District with flexible uses.
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      2,800 SF

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      Historic District gem; high ROI potential.
      422 43Rd St, Savannah, GA 31401
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    Similar Nearby for Lease

    • $25 SF/Yr
      2,700 SF

      Retail Space on Broughton Street

      Retail space available for lease on Broughton Street.
      23 W Broughton St, Savannah, GA 31401
      View Details
    • Contact for pricing
      1,020 SF

      Savannah Commercial Space in Starland

      Commercial space in Savannah's vibrant Starland District with expansion potential.
      15 W 43Rd St, Savannah, GA 31401
      View Details
    • $40 SF/Yr
      2,622 SF

      Retail Space in Savannah, GA

      Retail space available for lease in Savannah, GA.
      25 Maupas Ave, Savannah, GA 31401
      View Details
    • Contact for pricing
      1,800 SF

      Prime Retail Space on York

      1,800 SF retail space overlooking Wright Square.
      5 W York St, Savannah, GA 31401
      View Details
    • Contact for pricing
      4,321 SF

      Commercial Space in Starland District

      Commercial space available for lease in a thriving retail area.
      217 E 41St St, Savannah, GA 31401
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Savannah Riverwalk

      Ground floor retail space in new apartment community.
      630 Indian St, Savannah, GA 31401
      View Details
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    302 41st St
    Savannah, GA 31401-9129
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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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