906 72Nd StSavannah, GA 31405

Property Details for 906 72Nd St

Year built

1970

Lot size

0.37 AC

Property size (Sq ft)

6,900 SF

Zone code

BG

Property type

Retail properties

Property subtype

Strip malls

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,101,770

  6.5%

  $1,940,096

  7%

  $1,801,518

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,554,477

  Geo Method

  $1,182,558

• Alternative Use

  Use

  Valuation

  Residential

  $1,636,544

  Hospitality

  $1,499,065

  Educational

  $1,247,204

  Medical

  $1,290,098

  Retail

  $1,940,096

Location Insight

City

Savannah

County

Chatham

State

Georgia

Latitude

32.0258

Longitude

-81.0957

CBSA code

42340

CBSA name

SAVANNAH, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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