906 E 72Nd St Savannah, GA 31405
- Strip malls
- 6,900 SF
- 0.37 lot acres
Current Use by Public Records
- The Savannah Cheese Straw Company / Bakery
Property Details for 906 E 72Nd St
- Year built
- 1970
- Lot size
- 0.37 lot acres
- Property size
- 6,900 SF
- Zone code
- BG
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 2-0114 -28-009
- APU
- 2011428009
Description
This Savannah, GA shopping center offers a compelling investment opportunity with a strong 8.45% cap rate. The 6,900 square foot, single-story building, renovated in 2022, boasts six fully leased retail units totaling 6,469 square feet of rentable space. Situated in a high-traffic area, just 335 feet from DeRenne Avenue (35,200 VPD) and 350 feet from Waters Avenue (16,500 VPD), the property benefits from exceptional visibility and accessibility. Its prime location is strategically positioned between Memorial Health Hospital and St. Joseph's Candler Hospital, serving a population exceeding 9,000 within a one-mile radius. The building features 22 parking spaces (3.19 spaces per 1,000 sq ft), a Class B structure with masonry framing, block and stucco exterior walls, and a flat rubber membrane roof. Interior finishes include LVP, tile, and sealed concrete flooring, gypsum walls, and acoustic ceiling tiles. Each unit includes a retail storefront-sized glass window. The property is zoned C (Commercial) and benefits from a 60-year lease with 50 years remaining, featuring 3% annual rent bumps. This NNN net lease investment presents a stable, cash-flowing asset with significant long-term potential. The building was constructed in 1970.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Savannah
- County
- Chatham
- State
- Georgia
- Longitude
- -81.0957
- Latitude
- 32.0258
- CBSA code
- 42340
- CBSA name
- SAVANNAH, GA METROPOLITAN STATISTICAL AREA
