Single-Tenant Investment or Development Site | Savannah, GA
Single-Tenant Investment or Development Site | Savannah Parking / Development Site | 7% Cap Rate
Marketing description
Opportunity to acquire a single-tenant, double net (NN) leased investment property featuring a strong tenant, valuable surface parking income, and development potential. The lease includes 3% annual rent increases and the landlord's only operating expense is property taxes. The approximately ±16,988 SF corner site is strategically located in the heart of Savannah's rapidly evolving North Historic District, directly in the middle of Savannah’s continued growth and development.
Parking demand in the area continues to increase as multiple hotels, an office building and other parking demand drivers are currently in development and planning close to the property.
Investment highlights
• Leased through: October 31, 2029 - no tenant renewal options
• Current rent: $618,000.00 paid $51,500 per month
• Landlord expenses: Taxes 2025: $16,869.56
• Annual net operating income: $601,130.44
• Annual rental escalations: 3% each November
• Site size: ±16,988 SF
• Zoning: BC1 - Central Business – Historic District Overlay
• Landlord right to cancel lease: Upon selling or redevelopment
• Flexible use and density for redevelopment
• Parking demand is increasing rapidly
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