Dual-Unit Flex
For Sale
$384,900
Pending
107 Center Street, St Simons Island, GA 31522
Commercial Sale, St. Simons Island, GA
Property Size1,965 SF
Days on Market208
Property Features for 107 Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
4
Directions
At intersection of Frederica Rd and Sea Island Causeway, head north on Frederica Rd. Take left on Sylvan Drive, take left on Center Street. Building on Right. 107 Unit A/B is on far left when facing the building.
Subdivision
S3: Mid-North SSI
Standard status
Pending
APN
0412264
Size
1,965 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 1 SYLVAN LAKE COMMERCIAL CONDO
Tax Annual Amount
1950
Legal Description
UNIT 1 SYLVAN LAKE COMMERCIAL CONDO
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty Golden Isles
(912) 434-6477
Listed By:
Holly May · License #264548
(678) 644-2572
Added: Mar 9
Changed: Oct 2
Last Checked: Oct 2 at 8:06AM
MLS# 1660219
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 1,965-square-foot flex property contains two separately locked units connected through a shared entry foyer. The upper level measures approximately 1,000 square feet and includes two offices/bedrooms, 1.5 baths, a full kitchen, laundry, high ceilings, LVP flooring, newer appliances, and HVAC improvements. Renovation work was completed in 2021.
The 965-square-foot main-level unit includes a roll-up garage door bay, kitchenette, laundry, full bathroom, and a separate rear office or room adjoining the showroom. Dedicated parking is positioned directly in front of the property. The commercial condominium is one of five units in Sylvan Lake Commercial Condos, with an association managed by the owners.
The property is located on Center Street on St. Simons Island, behind Pierce & Parker furniture and across from St. Simons Storage. Nearby commercial users include home improvement, contracting, and shipping/receiving businesses, with residential tenants above.
The 965-square-foot main-level unit includes a roll-up garage door bay, kitchenette, laundry, full bathroom, and a separate rear office or room adjoining the showroom. Dedicated parking is positioned directly in front of the property. The commercial condominium is one of five units in Sylvan Lake Commercial Condos, with an association managed by the owners.
The property is located on Center Street on St. Simons Island, behind Pierce & Parker furniture and across from St. Simons Storage. Nearby commercial users include home improvement, contracting, and shipping/receiving businesses, with residential tenants above.
Key Highlights
- 1,965 square feet configured as two separately locked commercial units
- Upper unit is approximately 1,000 square feet with two offices/bedrooms and 1.5 baths
- Main‑level 965‑square‑foot unit includes roll‑up garage door bay and showroom
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
$20,002
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
5.20%
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%
$400,040
$400.0K
Cap Rate 7%
$285,743
$285.7K
Cap Rate 9%
$222,244
$222.2K
Market Conditions
NOI Build-Up for 1,965 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
$34.2K $17.40/SF
− Vacancy
−$7.5K −$3.83/SF
EGI
$26.7K $13.57/SF
− OpEx
−$6.7K −$3.39/SF
NOI
$20.0K $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%
$400,040
Cap Rate 7%
$285,743
Cap Rate 9%
$222,244
Alternative Uses
Best Use
Office B
$285.7K
$250.0K – $333.4K
NOI $20,002 @ 7.0% cap · market cap 5.20%
Second Best
Mixed Use
$250.1K
$218.9K – $291.8K
NOI $17,508 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$407.8K
$356.8K – $475.8K
NOI $28,547 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
2
Office units
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 31522, GA
16,892
Population
12,241
Households
1.4
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
53.4 sq mi
ZIP Area
316
Density / Sq Mi
$106,413
Median Household Income
$63,077
Median Earnings
$1,723
Median Rent
$498,300
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two separately secured units combine office, showroom, delivery, and live/work functionality in one commercial condo.
Where is this flex space located?
The property is located at 107 Center Street St Simons Island, GA.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: 1,965 square feet configured as two separately locked commercial units; Upper unit is approximately 1,000 square feet with two offices/bedrooms and 1.5 baths; Main‑level 965‑square‑foot unit includes roll‑up garage door bay and showroom
