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    Property profile & analytics

    761 Wheaton St Savannah, GA 31401

    • Commercial real estate
    • 110,445 SF
    • 6.49 lot acres
    For Sale
    View listing
    $20,250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1095417
    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

    • Chatham County DFCS / County Government Office
    • Savannah/Chatham CASA / Social Services Organization / Youth Social Services Organization
    • Homeless Authority / Homeless Service
    • Child Abuse & Neglect / Social Services Organization

    Property Details for 761 Wheaton St

    Year built
    2004
    Lot size
    6.49 lot acres
    Property size
    110,445 SF
    Property type
    Commercial real estate
    APN
    2-0033-12-030

    Description

    Exceptional investment opportunity: a Class A, 110,445 square foot executive office building in Savannah, Georgia. This single-tenant property boasts a 20-year lease (expiring June 30, 2039) with the State of Georgia, a AAA-rated tenant (Standard & Poor's). The lease commenced July 1, 2019, following an initial 15-year lease, demonstrating the tenant's long-term commitment to this location. The building, constructed in 2004 and renovated in 2019, features four stories and 402 parking spaces on a 6.49-acre lot. The property enjoys a 7.85% cap rate and a substantial net operating income (NOI) of $1,655,473. Annual rent bumps of 2.1% begin in year 16. The property is zoned I-L and benefits from a tax abatement program through the Savannah Economic Development Authority (SEDA), exempting the owner from property taxes until 2039, with a $1,000 acquisition fee thereafter. This stabilized investment offers significant long-term returns with minimal risk due to the exceptional tenant and lease terms. The asking price is $21,089,000. This is a fee-simple ownership opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.083318
    Latitude
    32.06989

    Comparable in this City

    • $20,250,000

      Savannah Office Building Leased to State

      Five-story, 110,445 SF building on 6.49 acres leased to Georgia.
      761 Wheaton St, Savannah, GA 31401
      View Details
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    Similar Nearby for Sale

    • $20,250,000

      Savannah Office Building Leased to State

      Five-story, 110,445 SF building on 6.49 acres leased to Georgia.
      761 Wheaton St, Savannah, GA 31401
      View Details
    • $999,900
      3,708 SF

      Victorian District Commercial Opportunity

      Two-level property in Savannah's Victorian District, suitable for commercial use.
      420 E Bolton St, Savannah, GA 31401
      View Details
    • $4,000,000
      11,292 SF

      Restaurant with additional 3 buildings to develop

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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 Mixed-Use Commercial Property

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      0.17 Acres

      Downtown Savannah Office Building

      Prime Location, Move-In Ready Office
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    Similar Nearby for Lease

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      Historic Downtown Savannah Office Space

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      Savannah Commercial Space For Lease

      Two-story commercial building in Savannah's Streetcar District available for lease.
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      55,560 SF

      Downtown Savannah Office Building

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    Property Visit Statistics

    • Visits by month
      7.4k
    • Visitors by month
      3.9k
    • Avg Time on site
      15 min
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    761 Wheaton St
    Savannah, GA 31401
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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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