Bank of America | Single Tenant NNN Leased Asset

22 Bull Street Savannah, GA 31401

22 Bull Street, Savannah, GA, 31401
22 Bull Street, Savannah, GA, 31401
Property Type:
Free Standing Building
Last Verified:
Feb 25, 2021


  • Bank of America | NNN Lease
  • NOI: $221,152.50
  • 4.43% Cap Rate
  • $202.24 PSF (Below Replacement)
  • Significantly Below Market Rent
  • $375 Million in Deposits, Representing 32% of Deposit Share for BOA in Savannah MSA
  • Downtown Savannah | Johnson Square


The subject property represents a gross square footage amount of ±24,698 square feet, which is situated on ±7,920 square feet of land and 100% occupied by Bank of America with a lease expiration date of 6/30/2023 and tenant renewal options thereafter. Net Operating Income for 2021 is projected at $221,152.50, which is considered significantly below market at $9.00 per square foot annually. Bank of America is the 3rd largest bank in Savannah by deposit amount with over $1.185 billion. The subject property represents 1 of 9 Bank of America locations holding 32% of total deposits in the market with over $375 million.

Located in Historic Downtown Savannah on Johnson Square, which is the first square in Oglethorpe’s original plan. Johnson Square is known today as the hub of the financial district and most lending institutions with a presence in Savannah are located here. The property is surrounded by Bryan Street to the North, Bull Street to the West and Drayton Street to the East that includes a number of parking options for patrons. In addition, many tourists visit Johnson Square on their way to nearby attractions on Broughton Street, Bay Street and River Street, which are 2 blocks away.

Year Built: 1907
Building Size: 24698sq ft
Lot Size: 0.0 acres

Map of 22 Bull Street, Savannah, GA, 31401

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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