8 W Victory Dr 2,125 SF Office Building Savannah, GA 31405 $675,000 ($317.65/SF)

Approximate $200,000- $300,000+ cash credits are available in both a long-term lease and/or a sale.
A rare opportunity to acquire — or occupy on a long-term lease — a freestanding 1890 historic building on one of Savannah’s most recognizable corridors. This two-story, 2,125 SF landmark carries the architectural character and historic status that position it to qualify for one of the most substantial stacked tax-incentive packages available in Georgia commercial real estate: up to 45% of qualified rehabilitation costs recoverable as dollar-for-dollar income tax credits, layered on top of a multi-year property-tax freeze.
Zoned BN Business Neighborhood (TC-2), the property supports a wide range of commercial uses — professional office, boutique agency, design or creative studio, medical/wellness, financial services, or specialty retail/showroom — subject to buyer’s or tenant’s confirmation of intended use.
THE TAX ADVANTAGE — UP TO 45% OF REHAB COSTS RETURNED AS CREDITS
A qualifying, certified rehabilitation of this historic structure may combine two dollar-for-dollar income tax credits:
• Federal Historic Rehabilitation Tax Credit — 20% of qualified rehabilitation expenditures, claimed ratably over five years. Available to owners, and potentially to qualifying long-term lessees who fund the rehabilitation, subject to a lessor pass-through election and minimum lease-term requirements.
• Georgia State Historic Income Tax Credit — 25% of qualified rehabilitation expenditures. The 25% rate remains in force in 2026, and the credit is transferable: it may be sold one time to other Georgia taxpayers, providing liquidity even without immediate Georgia tax liability. The program operates under an annual allocation cap and is currently scheduled to sunset December 31, 2029, so early application is advised.
Stacked, these credits can return up to 45 cents of every qualified rehabilitation dollar. For illustration, a $400,000 certified rehabilitation could generate roughly $180,000 in combined federal and state credits — with a $300,000 rehabilitation returning roughly $135,000 and a $500,000 rehabilitation roughly $225,000, the 45% recovery holding across the range.
PROPERTY-TAX FREEZE — APPROXIMATELY 8.5 YEARS
The property may also qualify for Georgia’s Preferential Property Tax Assessment Program for Rehabilitated Historic Property, which freezes the county assessment at the pre-rehabilitation value for eight years, followed by a phased step-up — a durable operating-cost advantage in a market where assessments continue to rise. For income-producing use, the rehabilitation must increase the building’s fair market value by at least 100%. The owner has prepared program documentation and a property-specific tax-savings analysis available to qualified prospects on request.
LEASE OPTION AVAILABLE
The owner will consider a long-term commercial lease in addition to an outright sale — an attractive structure for an operator or tenant seeking to capture the federal rehabilitation credit, which can be available to qualifying long-term lessees who fund a certified rehabilitation under a lessor pass-through election.
SITE & LOCATION
Two on-site parking spaces are included, with an adjacent parking lot available — creating a potential assemblage opportunity for expanded parking, site control, or phased redevelopment (inquire for details on the neighboring parcel). The building enjoys strong visibility and frontage on Victory Drive, a heavily traveled corridor, with walkable access to surrounding neighborhoods and Savannah’s downtown core.
Contact the listing broker for incentive documentation, lease terms, and assemblage details. All incentive figures are illustrative and subject to eligibility, property certification, project scope, conformance with the Secretary of the Interior’s Standards for Rehabilitation, application and preapproval requirements, and applicable program caps; programs are subject to legislative change, and the Georgia state credit is currently scheduled to sunset December 31, 2029. Property details are deemed reliable but not guaranteed. Prospective buyers and tenants should consult qualified tax counsel to confirm applicability to their specific circumstances.