1115 Whitaker St
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1115 Whitaker St
8,855 SF 25% Leased Retail Building Savannah, GA 31401 $3,608,000 CAD ($407.45 CAD/SF)
INVESTMENT HIGHLIGHTS
- Potential for Reconfiguration – Convert larger residential units into smaller ones or expand commercial space
- 8,855 SF Mixed-Use Property – Residential & Commercial
- Excellent Investor Opportunity – Customize & maximize revenue potential
EXECUTIVE SUMMARY
Please read the ad entirely for all pertinent details before contacting.
For Sale: $2,500,000
Approx 8,855 SF Mixed-Use Property – One Block from Forsyth Park, Savannah, GA
Prime Investment Opportunity
This mixed-use property consists of two structures on a single PIN, including:
-A separate residential home: 1,600 SF (Leased until May 31, 2025)
-A commercial space on the corner: 1,354 SF (Leased for 1 year with a 1-year renewal option)
-The remaining residential units. Currently vacant for renovations
Property Condition & Renovation Plans
This property recently experienced a fire in the north portion of the building. We are working with insurance and contractors to begin restoration. This is the second fire in 15 month, which has led to our decision to sell.
- First fire (previously restored): Caused by a tenant misusing an extension cord.
- Recent fire: Believed to have been caused by an AC condensing unit failure.
Despite these setbacks, our intention is to restore the property to its pre-fire condition and do additional upgrades to the separate house that was not damaged but could use a few improvements.
Planned upgrades include:
-New roof on both buildings
-New HVAC systems
-Upgraded kitchens & bathrooms
-New electrical, plumbing, and windows
-Estimated Completion: December 2025
Sale price includes all renovations in progress.
Why Sell Now?
- The area has transformed from primarily student housing and residential into a mix of commercial and upscale residential properties.
- For 20 years, we have been landlords for SCAD students, but the neighborhood is evolving.
- With depreciation nearing its end from when we originally purchased and renovated the property and us getting older, it's time to pass this opportunity on to someone who can maximize its potential in line with the area’s changes.
Development & Investment Potential
- Opportunity to reconfigure larger residential units into smaller ones or expand commercial space, subject to TN-1 zoning approval.
- New development north of the property is adding parking, improving accessibility.
- Strong rental & commercial potential in Savannah’s rapidly growing market.
This is a rare opportunity to invest in a prime downtown location and shape the property to fit Savannah’s evolving landscape.
If you're an investor looking for a redevelopment opportunity, this could be the perfect time to customize and optimize this unique space!
For Sale: $2,500,000
Approx 8,855 SF Mixed-Use Property – One Block from Forsyth Park, Savannah, GA
Prime Investment Opportunity
This mixed-use property consists of two structures on a single PIN, including:
-A separate residential home: 1,600 SF (Leased until May 31, 2025)
-A commercial space on the corner: 1,354 SF (Leased for 1 year with a 1-year renewal option)
-The remaining residential units. Currently vacant for renovations
Property Condition & Renovation Plans
This property recently experienced a fire in the north portion of the building. We are working with insurance and contractors to begin restoration. This is the second fire in 15 month, which has led to our decision to sell.
- First fire (previously restored): Caused by a tenant misusing an extension cord.
- Recent fire: Believed to have been caused by an AC condensing unit failure.
Despite these setbacks, our intention is to restore the property to its pre-fire condition and do additional upgrades to the separate house that was not damaged but could use a few improvements.
Planned upgrades include:
-New roof on both buildings
-New HVAC systems
-Upgraded kitchens & bathrooms
-New electrical, plumbing, and windows
-Estimated Completion: December 2025
Sale price includes all renovations in progress.
Why Sell Now?
- The area has transformed from primarily student housing and residential into a mix of commercial and upscale residential properties.
- For 20 years, we have been landlords for SCAD students, but the neighborhood is evolving.
- With depreciation nearing its end from when we originally purchased and renovated the property and us getting older, it's time to pass this opportunity on to someone who can maximize its potential in line with the area’s changes.
Development & Investment Potential
- Opportunity to reconfigure larger residential units into smaller ones or expand commercial space, subject to TN-1 zoning approval.
- New development north of the property is adding parking, improving accessibility.
- Strong rental & commercial potential in Savannah’s rapidly growing market.
This is a rare opportunity to invest in a prime downtown location and shape the property to fit Savannah’s evolving landscape.
If you're an investor looking for a redevelopment opportunity, this could be the perfect time to customize and optimize this unique space!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$103,910
|
$12.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,910
|
$12.62
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $103,910 |
| Annual Per SF | $12.62 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $103,910 |
| Annual Per SF | $12.62 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
8,855 SF
Building Class
C
Year Built/Renovated
1900/2025
Price
$3,608,000 CAD
Price Per SF
$407.45 CAD
Percent Leased
25%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.36
Lot Size
0.15 AC
Zoning
TN-1
Frontage
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Meat Retailer
- Retailer
- 1,354 SF
- -
- TBD
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Meat Retailer | Retailer | 1,354 SF | - | TBD | - |
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2004430002 | Improvements Assessment | $309,748 CAD |
| Land Assessment | $47,265 CAD | Total Assessment | $357,014 CAD |
PROPERTY TAXES
Parcel Number
2004430002
Land Assessment
$47,265 CAD
Improvements Assessment
$309,748 CAD
Total Assessment
$357,014 CAD
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1115 Whitaker St
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