Glynn County Warehouse Investment
For Sale
$485,000
120 Shell Drive, Brunswick, GA 31520
3,600 SF warehouse on 1-acre lot with credit tenant.
Property Size3,600 SF
Lot Size1.00 Acre
Price / SF$134.72
Days on Market206
Property Features for 120 Shell Drive
General Information
Standard status
Active
Size
3,600 SF
Lot size
1.00 Acre
Property subtype
Industrial
Listing Agency:
Joseph La Rosa
(912) 268-4069
Listed By:
Luke Jackson · License #3493021
Source:
Nmrk
Added: Jan 27
Changed: Aug 20
Last Checked: Aug 21 at 5:50AM
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 Joseph La Rosa
Investment Insights
Based on property information with market context.
This property presents an investment opportunity with a credit tenant in place. It features a ±3,600 square foot warehouse situated on a 1-acre lot. The property is located in central Glynn County and is zoned Limited Industrial (LI). The property includes 8 truck doors and is currently under a new 5-year NNN lease.
Key Highlights
- New 5‑year NNN Lease in place.
- Credit Tenant ensures reliable income.
- 8 Truck doors for efficient operations.
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
$21,446
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
4.42%
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%
$428,920
$428.9K
Cap Rate 7%
$306,371
$306.4K
Cap Rate 9%
$238,289
$238.3K
Market Conditions
NOI Build-Up for 3,600 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
$26.8K $7.44/SF
− Vacancy
−$1.6K −$0.43/SF
EGI
$25.2K $7.01/SF
− OpEx
−$3.8K −$1.05/SF
NOI
$21.4K $5.96/SF
Area
Glynn County, GA
Vacancy
5.80%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$428,920
Cap Rate 7%
$306,371
Cap Rate 9%
$238,289
Alternative Uses
Best Use
Warehouse
$306.4K
$268.1K – $357.4K
NOI $21,446 @ 7.0% cap · market cap 4.42%
Second Best
Industrial
$234.3K
$205.0K – $273.3K
NOI $16,399 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$747.1K
$653.8K – $871.7K
NOI $52,300 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 3,600 SF warehouse on 1-acre lot with credit tenant.
Where is this warehouse located?
The property is located at 120 Shell Drive Brunswick, GA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: New 5‑year NNN Lease in place.; Credit Tenant ensures reliable income.; 8 Truck doors for efficient operations.
