Two-Story Office
For Sale
$990,000
1522 Richmond Street, Brunswick, GA 31520
Commercial Sale, Brunswick, GA
Property Size4,800 SF
Lot Size0.15 Acres
Price / SF$206.25
Days on Market231
Property Features for 1522 Richmond Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
9
Subdivision
Old Town
Directions
Property is in Downtown Brunswick. From Gloucester Street, headed west, turn right on Richmond Street just before South Coast Bank. Building will be on the right. There is a parking lot for the building.
Standard status
Active
APN
0102040
Size
4,800 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
PTN129 & 130 OT
Legal Description
PTN129 & 130 OT
Building Details
Year built
1950
Floors in Building
2
Listing Agency:
Driggers Commercial Group
(912) 634-5900
Listed By:
Robert Driggers · License #278693
(912) 506-9837
Added: Jan 26
Changed: Aug 19
Last Checked: Sep 14 at 12:06PM
MLS# 1659446
Copyright © 2026 Golden Isles Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,800-square-foot office building occupies a 0.15-acre site and was constructed in 1950. The two-story layout provides independent entrances for each level, with office improvements on both floors. The masonry-and-steel structure includes fire sprinklers, three power meters, large windows, and finished interiors. HVAC systems were replaced within the past five years, the windows were re-glazed last year, and a new roof coating has been installed. Rooftop solar is also in place.
The property includes nine on-site parking spaces plus additional street parking. It sits just behind the historic Ritz Theater, with restaurants, banks, shops, and other offices within steps of the building. Ground-floor office tenants are currently month-to-month and may remain or vacate, while the upper level is owner-occupied. The building may be delivered fully vacant or with the ground-floor occupants in place.
The property includes nine on-site parking spaces plus additional street parking. It sits just behind the historic Ritz Theater, with restaurants, banks, shops, and other offices within steps of the building. Ground-floor office tenants are currently month-to-month and may remain or vacate, while the upper level is owner-occupied. The building may be delivered fully vacant or with the ground-floor occupants in place.
Key Highlights
- 4,800‑square‑foot office building on a 0.15‑acre site
- Two stories with separate entrances serving each floor
- Nine on‑site parking spaces plus additional street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,859
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$977,180
$977.2K
Cap Rate 7%
$697,986
$698.0K
Cap Rate 9%
$542,878
$542.9K
Market Conditions
NOI Build-Up for 4,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$83.5K $17.40/SF
− Vacancy
−$18.4K −$3.83/SF
EGI
$65.1K $13.57/SF
− OpEx
−$16.3K −$3.39/SF
NOI
$48.9K $10.18/SF
Area
Glynn County, GA
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$977,180
Cap Rate 7%
$697,986
Cap Rate 9%
$542,878
Alternative Uses
Best Use
Office B
$698.0K
$610.7K – $814.3K
NOI $48,859 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$996.2K
$871.7K – $1.16M
NOI $69,733 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 31520, GA
22,726
Population
10,619
Households
2.1
Avg Household Size
39
Median Age
16%
College-Educated
84%
High-School Grad
20.1 sq mi
ZIP Area
1,131
Density / Sq Mi
$37,652
Median Household Income
$26,292
Median Earnings
$936
Median Rent
$135,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Masonry-and-steel construction offers separate floor entrances, updated building systems, and flexible occupancy options.
Where is this office building located?
The property is located at 1522 Richmond Street Brunswick, GA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 4,800‑square‑foot office building on a 0.15‑acre site; Two stories with separate entrances serving each floor; Nine on‑site parking spaces plus additional street parking
