115 E Bay Street, Savannah, Georgia image 1
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115 E Bay Street

Savannah, GA 31401
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$3,650,000 $15,388/Mo
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Bed 4

Bed

Bath 6

Bath

SqFt7,500

Sqft

Acres0.06

Acre(Lot)

5-unit mixed-use building near the corner of Bay and Drayton in Savannah's Downtown Historic District, 1block from River Street. Ground floor leased through June 2034; 4 permitted short-term rental suites above. Two suites on floor 2. Two suites on floor 3. ±7,500 SF across three stories and a full basement, offered at $3,650,000, equating to $487/SF. 115 East Bay was originally built as the Oglethorpe Lodge and has held this location since before the Civil War, inside Savannah's National Historic Landmark District, Oglethorpe's 1733 plan and the twenty-two squares that survive it. Buildings like this last by staying useful, and this one is: a restaurant on the ground floor and basement, four suites on the two floors above, each known by a name rather than a number. The next owner takes on income and a stewardship, keeping an antebellum building on Bay Street occupied, earning, and cared for. That is how this city honors its history. Not behind glass. In use. Property upgrades include new insulation and trusses in 2016, HVAC units replaced in 2014, 2021, and 2024, separate electric meters for possible future uses, new electrical system, new plumbing system, new sprinkler system, and structural reinforcement with steel beams in 2010. The ground floor and basement, 4,112 SF, are leased to Treylor Park on a 120-month term running through June 30, 2034, personally guaranteed. Base rent is $15,000/month and steps to $16,500/month on July 1, 2029. The upper 2 floors hold four 1-bedroom suites, named after totaling 3,388 SF, currently operating under City of Savannah STVR certificates and producing $115,972.77 in 2025. Gross income $314,042. Operating expenses $76,387. NOI $237,655. 6.5% Cap Rate. Outside the 100-year flood zone. Parking access off Bay Street Lane. Offering memorandum, lease file and unit-level operating statements available to qualified buyers.

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Detail Ic Property Details

Property Type : Residential Income

Price : $3,650,000

AD Id : 91303446

MLS Id : SA364783

Beds : 4

Lot Size : 0.06 Acre

Living Area Size : 7,500 Sq. Ft

Tax Amount : $21,871

Year Built : 1845

County : Chatham

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Feature Features

  • Bedroom Information

    Total beds: 4

    Bathroom Information

    Total Baths: 6 Full Baths: 4 Half Baths: 2

    Room Information

    Has Basement: Yes Basement: Interior Entry, Unfinished

  • Flooring Information

    Hardwood, Wood

  • Roofing Information

    Composition

  • Interior Features

    Roof: Composition Appliances: Double Oven, Dryer, Dishwasher, Electric Water Heater, Freezer, Indoor Grill, Microwave, Oven, Range, Refrigerator, Range Hood, Washer Laundry Features: In Basement, Upper Level

  • Heating & Cooling

    Has Heating: Yes Heating: Central, Electric Has Cooling: Yes Cooling: Central Air, Electric

  • Building Information

    Year Built: 1845 Construction Materials: Brick Private Pool: No View: Panoramic

  • Lot Information

    Main Square Feet: 0.06 Acres Lot Size Acres: 0.06 Lot Size Square Feet: 2614

  • Listing Price Information

    Listing Price: $3650000 Cash, 1031 Exchange, Private Financing Available, Seller Equity Share

  • Tax Information

    Parcel Number: 20004 16009 Tax Year: 2025 Annual Tax: $21871

  • Utility Information

    Underground Utilities

  • Location Information

    Direction: East on Bay St to 115 E Bay St, Savannah. WaterSource: Public
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The data relating to real estate on this website comes in part from the Internet Data Exchange program of Hive MLS. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor ByOwner shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. Copyright ©2026 Hive MLS LLC. All Rights Reserved.

ByOwner last updated this listing 09/17/2026 @ 03:10

MLS: SA364783 LISTED BY: Matthew Myles, Serhant Georgia LLC SOURCE: Hive MLS (North Carolina Regional)

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