UPDATED:
Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $486
MLS Listing ID SA364781
Bedrooms 4
Full Baths 4
Half Baths 2
HOA Y/N No
Year Built 1845
Lot Size 2,614 Sqft
Acres 0.06
Property Sub-Type Special Purpose
Source SAV
Property Description
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.
Location
State GA
County Chatham
Zoning D-CBD
Direction East on Bay St to 115 E Bay St, Savannah.
Rooms
Basement Interior Entry, Unfinished
Interior
Interior Features Fireplace, High Ceilings
Heating Central, Electric
Cooling Central Air, Electric
Flooring Hardwood, Wood
Furnishings Furnished
Fireplace Yes
Appliance Some Electric Appliances, Some Gas Appliances, Double Oven, Dryer, Dishwasher, Electric Water Heater, Freezer, Indoor Grill, Microwave, Oven, Range, Refrigerator, Range Hood, Some Commercial Grade, Washer
Exterior
Utilities Available Underground Utilities
View Panoramic
Roof Type Composition
Building
Foundation Block, Brick/Mortar, Concrete Perimeter, Pillar/Post/Pier
Water Public
Architectural Style Traditional
Level or Stories 3
Others
Tax ID 20004 16009
Acceptable Financing ARM, Cash, Conventional, 1031 Exchange, Other, Private Financing Available, Seller Equity Share
Listing Terms ARM, Cash, Conventional, 1031 Exchange, Other, Private Financing Available, Seller Equity Share
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/sav/SA364781
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