408 Martin Luther King Blvd Savannah, GA 31401

10,479 SF 0.09 ac lot Built 1900

Entity Owned 1-yr Hold ~ Est. High Equity

Property ID

US22-1720831

$2,719,900 10,479 SF

408 Martin Luther King Blvd, Savannah, GA 31401
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This exceptional Savannah, GA mixed-use building presents a unique investment opportunity. Located at 408 & 410 Martin Luther King Jr Blvd (APN: 20031 36007), this four-story, 14,327 square foot property (13,427 net rentable) sits on a 3,793 square foot lot and boasts a coveted Walk Score of 98/100. Built in 1920 and renovated in 2010, the building is classified as Class B and zoned D-C. Currently vacant except for ground floor tenants, it offers immediate income potential with approved plans for 10 short-term vacation rentals (STVRs). The second and third floors (each approximately 3,200 sq ft) are already approved for STVR use, featuring open-concept layouts with original hardwood floors and Venetian-style ceiling tiles, and a separate street-level entrance. The ground floor, currently leased, includes a glass front mezzanine and a rear open mezzanine. This space can be easily divided into two separate units. The property is listed at $3,200,000, with a lease type of NNN and credit-rated tenants. The building offers significant redevelopment potential, including the approved addition of a fifth floor, further increasing STVR capacity. This owner-user investment opportunity combines immediate rental income with substantial long-term growth potential in a thriving market. The property is vacant as of November 30, 2024.