36 Martin Luther King Jr Blvd Savannah, GA 31401
- Hotels
- 10,215 SF
Current Use by Public Records
- The Windrose Apartment Hotel / Hotel
- Órale Tacos + Tequila / Mexican Restaurant / Restaurant
- The Fat Radish / Restaurant / Bar
Property Details for 36 Martin Luther King Jr Blvd
- Year built
- 1870
- Property size
- 10,215 SF
- Property type
- Hotels
- APN
- 20016 16005
Description
This exceptional mixed-use property, located at 36 Martin Luther King Jr Blvd in Savannah, Georgia's Historic Landmark District, presents a compelling investment opportunity. The 10,215 square foot building, constructed in 1870 and renovated in 2019, boasts a four-story structure encompassing twelve short-term rental units operating as an apartment hotel and a ground-floor restaurant operating under a triple-net (NNN) lease. The property is currently 100% occupied, with occupancy commencing December 16, 2023, and a five-year lease term with a 2% annual rent bump in year five. The asking price is $8,500,000. The property features twelve keys, twelve units, and is zoned D-CBD. Its prime location within Savannah's vibrant historic district ensures high foot traffic and proximity to major attractions, contributing to strong revenue generation. The existing restaurant lease and the short-term rental units provide a stable income stream with significant potential for revenue growth through strategic management and operational enhancements. This owner/user investment opportunity offers a blend of established income and upside potential in a thriving tourism market. The property's Asset Property Number (APN) is 20016 16005. Lease options are available.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Savannah
- County
- Chatham
- State
- Georgia
- Longitude
- -81.0968581
- Latitude
- 32.0809317
