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38 Montgomery St 16,200 SF 100% Leased Retail Building Savannah, GA 31401 $9,550,000 ($589.51/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- High foot traffic with great visibility
- Mixed use asset with retail, restaurant, F&B and short term rental
- Credit Tenant with upside in Lease (expires in 2 years)
- Great corner location between Broughton and Waterfront
EXECUTIVE SUMMARY
Charleston Commercial, on behalf of ownership, is pleased to exclusively offer Montgomery & Congress. The property is located across the street from Franklin Square situated between the new Water Front development (including the JW Marriott) and W Broughton Street. The fully leased mixed use building features credit, regional and local tenants who have occupied the building 5+ years. This prime location is also directly adjacent to the city market which is an 18th century open-air marketplace and allows easy access for tourists, and locals alike.
Anchored by Anthropologie, and featuring newly extended F&B leases (Bitty and Beau's, The Escape Company) as well as a newly extended office lease to premier architecture firm (LS3P), the opportunity is a true mixed-use asset with upside. With a Walk-Score of 99 (Walkers Paradise), the property co-exists amongst other retailers and restaurants, hotels, schools, parks and other abundant amenities.
Please reach out to learn more.
Anchored by Anthropologie, and featuring newly extended F&B leases (Bitty and Beau's, The Escape Company) as well as a newly extended office lease to premier architecture firm (LS3P), the opportunity is a true mixed-use asset with upside. With a Walk-Score of 99 (Walkers Paradise), the property co-exists amongst other retailers and restaurants, hotels, schools, parks and other abundant amenities.
Please reach out to learn more.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
16,200 SF
Building Class
B
Year Built/Renovated
1870/2024
Price
$9,550,000
Price Per SF
$589.51
Cap Rate
6%
NOI
$573,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.98
Lot Size
0.13 AC
Zoning
BC1
Parking
5 Spaces (0.31 Spaces per 1,000 SF Leased)
Frontage
79’ on Montgomery St
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (91)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2001615006 | Improvements Assessment | $1,237,040 |
| Land Assessment | $365,920 | Total Assessment | $1,602,960 |
PROPERTY TAXES
Parcel Number
2001615006
Land Assessment
$365,920
Improvements Assessment
$1,237,040
Total Assessment
$1,602,960
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38 Montgomery St
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