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 leased investment property with a strong tenant, valuable use, and redevelopment upside. The rent escalates 3% annually and the only landlord expenses are the property taxes. The approximately ±16,988 SF corner site is well-located in the path of progress in the heart of the rapidly developing north historic district of Savannah.
Parking is in high demand and growing rapidly, especially with two hotels currently in development within a block of 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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