Two-Building Office
For Sale
Contact for pricing
1111 GLYNCO PKWY, Brunswick, GA 31525
Multi-tenant professional and medical office property with established healthcare occupancy in Brunswick.
Property Size97,262 SF
Price / SF$104.36
Days on Market130
Property Features for 1111 GLYNCO PKWY
General Information
Standard status
Active
Size
97,262 SF
Class
C
Property subtype
Office
Occupancy
78%
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$812,683
Building Details
Year Built
1998
Buildings
2
Units
65
Tenancy
Multi
Listing Agency:
Northmarq - Tulsa
(918) 494-2690
Listed By:
Toby Scrivner · License #TX #452773
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 4:25AM
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 Northmarq - Tulsa
Investment Insights
Based on property information with market context.
Summit Professional Plaza I & II comprises two office buildings totaling 97,262 square feet at 1111 Glynco Parkway in Brunswick, Georgia. Built in 1998, the campus combines professional and medical office space in a multi-tenant configuration.
Southeast Georgia Health System occupies approximately 16,023 square feet in two suites. Its leases extend through December 2031, and the health system is identified as a BBB / S&P investment-grade, not-for-profit regional provider serving the Golden Isles and Coastal Georgia.
The property offers a substantial office campus format with healthcare tenancy representing a significant component of the occupied space. Its location, building count, total area, and established anchor occupancy provide a clear framework for evaluating the asset as a professional office property.
Southeast Georgia Health System occupies approximately 16,023 square feet in two suites. Its leases extend through December 2031, and the health system is identified as a BBB / S&P investment-grade, not-for-profit regional provider serving the Golden Isles and Coastal Georgia.
The property offers a substantial office campus format with healthcare tenancy representing a significant component of the occupied space. Its location, building count, total area, and established anchor occupancy provide a clear framework for evaluating the asset as a professional office property.
Key Highlights
- 97,262‑square‑foot, two‑building office campus
- Multi‑tenant professional and medical office configuration
- Southeast Georgia Health System occupies approximately 16,023 square feet across two suites
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
$889,994
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
8.77%
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%
$17,799,880
$17.8M
Cap Rate 7%
$12,714,200
$12.7M
Cap Rate 9%
$9,888,822
$9.9M
Market Conditions
NOI Build-Up for 97,262 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
$1.66M $17.04/SF
− Vacancy
−$174.0K −$1.79/SF
EGI
$1.48M $15.25/SF
− OpEx
−$593.3K −$6.10/SF
NOI
$890.0K $9.15/SF
Area
Glynn County, GA
Vacancy
10.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
40.00%
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%
$17,799,880
Cap Rate 7%
$12,714,200
Cap Rate 9%
$9,888,822
Alternative Uses
Best Use
Office B
$14.14M
$12.38M – $16.50M
NOI $990,030 @ 7.0% cap · market cap 9.75%
Second Best
Healthcare Medical
$12.71M
$11.12M – $14.83M
NOI $889,994 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$20.19M
$17.66M – $23.55M
NOI $1,412,991 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 31525, GA
28,766
Population
12,373
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
89%
High-School Grad
98.3 sq mi
ZIP Area
293
Density / Sq Mi
$65,896
Median Household Income
$37,145
Median Earnings
$1,137
Median Rent
$198,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant professional and medical office property with established healthcare occupancy in Brunswick.
Where is this office building located?
The property is located at 1111 GLYNCO PKWY Brunswick, GA.
What is the asking price?
The asking price for this property is $10,150,000.
What are key features of this property?
This property features: 97,262‑square‑foot, two‑building office campus; Multi‑tenant professional and medical office configuration; Southeast Georgia Health System occupies approximately 16,023 square feet across two suites
