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Property profile & analytics
FOR SALE
Strip malls

4800 Waters Ave Savannah, GA 31404

61,198 SF 4.24 ac lot Built 1965
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US22-1688348
Property summary
AI-generated overview

This exceptional Class A, 62,011 square foot retail and restaurant center is located in Savannah, Georgia, at 4800 Waters Ave, near the intersection of East 63rd Street and Waters Avenue. Built in 1959, this single-story building sits on a 3.6-acre lot and offers multiple tenancies with a minimum divisible space of 992 square feet and a maximum contiguous space of 11,138 square feet. The property benefits from its strategic location directly across Waters Avenue from the 600+ bed Memorial Health University Medical Center, the only Level 1 Trauma Center in Southeast Georgia and the 6th busiest hospital in the state. This location within Savannah's Medical Arts District provides unparalleled access to a high concentration of medical services and nearly 1,100 beds within a 0.5-mile radius. The property is zoned commercial and offers significant potential for lasting value due to its proximity to this major medical facility and the dense medical community. The building does not include elevators. This is a rare opportunity to acquire a well-positioned commercial property in a thriving medical hub. The property's size and location make it ideal for a variety of retail and restaurant uses.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1965
Total area 61,198 SF
Lot 4.24 ac (184,694 SF)
Zoning code BN
APN 2-0105 -09-001
UPID US22-1688348
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Water Damage Restoration Houston Carpet Cleaning Service Fire Damage Restoration Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$10.63M
CAP Approach CAP
$13.21M
Comparable Approach Comparable
$15.80M
Blend (final) Blend
$12.09M
Owner & transaction history
Ipi Medical Arts LLC · 4 yrs held
Ipi Medical Arts LLC
since 2021
Last sale
$12.3M
1 recorded transaction
2021
$12.3M
Zoning & alternative use
BN · Savannah, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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