Building Details

Building Size 2,500 SF

Year Built 2006

Stories 2

Tenancy Multi

Listing Agency: Don Wright & Associates

Listed By: Don Wright · License #12088 Show Phone

Source: Maritimerg

Added: May 13 Changed: Oct 29 Last Checked: Oct 29 at 2:54PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Don Wright & Associates

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Investment Insights

Based on property information with market context.

This 2,500-square-foot commercial condominium in Island Professional Park was built in 2006 and spans two levels. The first floor has a foyer with a built-in reception desk, six private offices, a conference room, and a handicapped-accessible bathroom. Upstairs, a carpeted open area offers potential for further build-out, alongside a private office with an en-suite bathroom and a utility closet. Internet wiring, including CAT5, runs throughout the building, and two central HVAC zones serve the space.

The property fronts Demere Road and has on-site parking. It is part of the Island Professional Park Commercial Condominiums, which have an association fee.

Key Highlights

• 2,500‑square‑foot, two‑level commercial condominium
• Six private offices and a conference room on the first floor
• Upper‑level open area with potential for further build‑out

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,448

Cap Rate

3.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,960 $509.0K

Cap Rate 7%

$363,543 $363.5K

Cap Rate 9%

$282,756 $282.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$43.5K $17.40/SF

− Vacancy

−$9.6K −$3.83/SF

EGI

$33.9K $13.57/SF

− OpEx

−$8.5K −$3.39/SF

NOI

$25.4K $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 Rate 5%

$508,960

Cap Rate 7%

$363,543

Cap Rate 9%

$282,756

Alternative Uses

Best Use

Office B

$363.5K

$318.1K – $424.1K (±1% cap)

NOI $25,448 @ 7.0% cap · market cap 3.20%

Second Best

Mixed Use

$318.2K

$278.4K – $371.3K (±1% cap)

NOI $22,275 @ 7.0% cap · market cap 2.80%

Theoretical Best

Office A

$518.8K

$454.0K – $605.3K (±1% cap)

NOI $36,319 @ 7.0% cap · market cap 4.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Chapman Hall Coastal Real Estate Agency

Suggested Use

Top Pick Garden Center Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

315

Businesses Nearby

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two floors combine private offices, conference space, and an open area with potential for further build-out.

Where is this mixed-use property located?

The property is located at 110 Island Professional Park St Simons Island, GA.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: 2,500‑square‑foot, two‑level commercial condominium; Six private offices and a conference room on the first floor; Upper‑level open area with potential for further build‑out