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

    605 Martin Luther King Jr Blvd Savannah, GA 31401-5505

    • Drive through restaurants
    • 3,024 SF
    • 0.47 lot acres
    OFF-MARKET
    Last Sale
    Apr 18, 2023
    $2,183,000
    Value Estimations
    $2,545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1845153
    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

    • Popeyes Louisiana Kitchen / Restaurant

    Property Details for 605 Martin Luther King Jr Blvd

    Year built
    1968
    Lot size
    0.47 lot acres
    Property size
    3,024 SF
    Zone code
    BG
    Property type
    Drive through restaurants
    APN
    2-0045 -19-007
    APU
    2004519007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,850,000
      ML approach
      $2,850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,646,000
      Market price range: $740k - $2.65M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,655,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.1014
    Latitude
    32.0706
    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
    $716,880
    $54,880
    $771,760
    -
    $1,792,200
    $137,200
    $1,929,400

    Comparable in this City

    • Value Estimation
      $1,510,000
      1,416 SF

      2514 Bull St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,416 SF
      2514 Bull St, Savannah, GA 31401-9114
      View Details
    • Value Estimation
      $525,000
      2,664 SF

      405 Gwinnett St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,664 SF
      405 Gwinnett St, Savannah, GA 31401-5516
      View Details
    • Value Estimation
      $580,000
      2,966 SF

      615 Martin Luther King Jr Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,966 SF
      615 Martin Luther King Jr Blvd, Savannah, GA 31401-5505
      View Details
    • Value Estimation by Request
      10,800 SF

      207 Broughton St

      Restaurants • 10,800 SF
      207 Broughton St, Savannah, GA 31401
      View Details
    • Value Estimation by Request
      973 SF

      1402 Habersham St

      RESTAURANT • 973 SF
      1402 Habersham St, Savannah, GA 31401-7327
      View Details
    • Value Estimation by Request
      2,582 SF

      2414 Montgomery St

      BAR, TAVERN • 2,582 SF
      2414 Montgomery St, Savannah, GA 31401-8836
      View Details

    Similar Nearby for Sale

    • $8,500,000
      10,215 SF

      Savannah Historic District Gem

      Mixed-use hotel & restaurant investment
      36 Martin Luther King Jr Blvd, Savannah, GA 31401
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    • $4,000,000
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      Restaurant with additional 3 buildings to develop

      Individual retail properties • 11,292 SF
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    • $5,500,000
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      Savannah Downtown Commercial Duo

      Prime location, high traffic, restaurant & office space
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      Savannah Cotton Exchange Historic Landmark

      Iconic Savannah Cotton Exchange building for sale in historic district.
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      Historic District gem; high ROI potential.
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      High-cap rate, multi-tenant property in Savannah's heart.
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    Similar Nearby for Lease

    • Contact for pricing
      2,100 SF

      Savannah Riverfront Retail Space

      Prime Restaurant Space in New Hotel
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    • $60 SF/Yr
      11,800 SF

      River Street Historic Office Space

      Prime Savannah Office, 6,202 SF Available
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    • $32 SF/Yr
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      Savannah Commercial Space For Lease

      Two-story commercial building in Savannah's Streetcar District available for lease.
      422 W 43Rd St, Savannah, GA 31401
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    • Contact for pricing
      80,893 SF

      Savannah's Premier Office Space

      Class A Office, Retail & Restaurant Spaces
      33 Bull 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
    • Contact for pricing
      55,560 SF

      Downtown Savannah Office Building

      Prestigious 10-story office space for lease
      24 Drayton St, Savannah, GA 31401
      View Details
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    605 Martin Luther King Jr Blvd
    Savannah, GA 31401-5505
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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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