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11010 Middleground Rd 22 Unit Apartment Building $3,767,500 CAD ($171,250 CAD/Unit) 6.02% Cap Rate Savannah, GA 31419
Investment Highlights
- The property’s one- and two-bedroom unit mix aligns with consistent demand from Savannah’s growing renter-by-necessity population.
- Smaller, vintage assets like this face less direct competition from newly delivered Class A product.
- A 22-unit property offers an ideal balance of operational efficiency and accessibility for a wide range of investors.
- Opportunity to enhance revenue through interior upgrades, improved property management, and expense optimization.
- Proximity to major employment drivers supports stable occupancy and long-term tenant retention.
- Market fundamentals are expected to improve as new supply is absorbed, supporting future rental rate increases.
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire 11010 Middleground Rd, a 22-unit multifamily asset located in Savannah. Constructed in 1974 and situated on approximately 1.10 acres, the property features a desirable unit mix of one- and two-bedroom floorplans that cater to the area’s strong workforce housing demand.
The asset offers investors a value-add opportunity through interior improvements, operational efficiencies, and the ability to capture rental upside in a steadily growing coastal market. The property will continue to benefit from sustained renter demand driven by Savannah’s expanding population and employment base.
Savannah’s multifamily market continues to demonstrate long-term strength despite short-term supply pressures. The metro has experienced significant population and job growth, largely fueled by the expanding Port of Savannah, one of the fastest-growing ports in the nation, as well as continued investment in logistics, manufacturing, and tourism sectors. While a recent wave of new construction has temporarily softened rent growth and occupancy, demand remains resilient, with absorption levels remaining strong and investor interest continuing across the market. As new supply is absorbed and construction activity moderates, a favorable environment for rent growth and long-term appreciation is emerging. Positioned within this dynamic market, 11010 Middleground Rd offers investors the opportunity to acquire a asset with both in-place cash flow and future upside potential.
The asset offers investors a value-add opportunity through interior improvements, operational efficiencies, and the ability to capture rental upside in a steadily growing coastal market. The property will continue to benefit from sustained renter demand driven by Savannah’s expanding population and employment base.
Savannah’s multifamily market continues to demonstrate long-term strength despite short-term supply pressures. The metro has experienced significant population and job growth, largely fueled by the expanding Port of Savannah, one of the fastest-growing ports in the nation, as well as continued investment in logistics, manufacturing, and tourism sectors. While a recent wave of new construction has temporarily softened rent growth and occupancy, demand remains resilient, with absorption levels remaining strong and investor interest continuing across the market. As new supply is absorbed and construction activity moderates, a favorable environment for rent growth and long-term appreciation is emerging. Positioned within this dynamic market, 11010 Middleground Rd offers investors the opportunity to acquire a asset with both in-place cash flow and future upside potential.
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- Offering Memorandum
Property Facts
| Price | $3,767,500 CAD | Property Subtype | Apartment |
| Price Per Unit | $171,250 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.10 AC |
| Cap Rate | 6.02% | Building Size | 30,000 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Zoning | RM25 | ||
| Price | $3,767,500 CAD |
| Price Per Unit | $171,250 CAD |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.10 AC |
| Building Size | 30,000 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | RM25 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | 600 |
| 2+1 | 9 | - | 1,000 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 2078303002 | Improvements Assessment | $612,609 CAD |
| Land Assessment | $315,100 CAD | Total Assessment | $927,709 CAD |
Property Taxes
Parcel Number
2078303002
Land Assessment
$315,100 CAD
Improvements Assessment
$612,609 CAD
Total Assessment
$927,709 CAD
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11010 Middleground Rd
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