Flexible Office
For Sale
$590,000
1600 Union Street, Brunswick, GA 31520
Commercial Sale, Brunswick, GA
Property Size2,950 SF
Lot Size0.18 Acres
Price / SF$200
Days on Market128
Property Features for 1600 Union Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
8
Subdivision
Old Town
Directions
Driving west on Gloucester Street in downtown Brunswick, turn right onto Union Street. Property is at the corner of Union Street and F Street.
Standard status
Active
APN
0102196
Size
2,950 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
1229,1230,PT 1231 NT
Legal Description
1229,1230,PT 1231 NT
Listing Agency:
Driggers Commercial Group
(912) 634-5900
Listed By:
Robert Driggers · License #278693
(912) 506-9837
Added: May 10
Changed: Aug 19
Last Checked: Sep 14 at 12:06PM
MLS# 1661969
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 2,950-square-foot office property offers a varied professional layout with eight private offices, a conference room, reception and administrative areas, a work room, a large break room, and three bathrooms, including one ADA-compliant facility. The configuration can support two independent office suites that share only the entrance and conference room. A small storage building is also located on the property.
The property is positioned one block from Gloucester Street, with views toward the Glynn County Courthouse and surrounding professional offices and banking institutions. Restaurants and services are within a short walk. On-site parking accommodates eight cars, with additional parking available along the street.
The property is positioned one block from Gloucester Street, with views toward the Glynn County Courthouse and surrounding professional offices and banking institutions. Restaurants and services are within a short walk. On-site parking accommodates eight cars, with additional parking available along the street.
Key Highlights
- 2,950 SF office property on a 0.18‑acre parcel
- Eight offices, conference room, reception, administrative areas, work room, and break room
- Can be divided into two independent office spaces
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
$30,028
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
5.09%
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%
$600,560
$600.6K
Cap Rate 7%
$428,971
$429.0K
Cap Rate 9%
$333,644
$333.6K
Market Conditions
NOI Build-Up for 2,950 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
$51.3K $17.40/SF
− Vacancy
−$11.3K −$3.83/SF
EGI
$40.0K $13.57/SF
− OpEx
−$10.0K −$3.39/SF
NOI
$30.0K $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%
$600,560
Cap Rate 7%
$428,971
Cap Rate 9%
$333,644
Alternative Uses
Best Use
Office B
$429.0K
$375.4K – $500.5K
NOI $30,028 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.2K
$535.7K – $714.3K
NOI $42,857 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,159
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Adaptable professional workspace with separate office configurations, on-site parking, and a convenient downtown Brunswick setting.
Where is this office units located?
The property is located at 1600 Union Street Brunswick, GA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 2,950 SF office property on a 0.18‑acre parcel; Eight offices, conference room, reception, administrative areas, work room, and break room; Can be divided into two independent office spaces
