Five-Unit Apartment
For Sale
$459,900
1416 Lee Street, Brunswick, GA 31520
Residential Income, Brunswick, GA
Property Size4,344 SF
Lot Size0.39 Acres
Price / SF$105.87
Days on Market102
Property Features for 1416 Lee Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 6
Parking
5
Parking features
Off Street
Interior features
Ceiling Fan(s)
Subdivision
Town Commons
Elementary school
St. Simons
Middle school
Glynn Middle School
High school
Glynn Academy
Directions
Traveling north on US-17 turn left onto Gloucester St, turn left onto Lee St and the house will be on the left.
Standard status
Active
APN
01-01773
Size
4,344 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
17 Ptn 19 T C
Tax Annual Amount
2300
Legal Description
17 Ptn 19 T C
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1890
Flooring type
Carpet
Building materials
Block, Vinyl Siding
Listing Agency:
eXp Realty, LLC
(888) 959-9461
Listed By:
Patrick Davis · License #363984
(904) 658-1177
Added: May 14
Changed: Aug 21
Last Checked: Aug 23 at 1:06AM
MLS# 1661931
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.
Built in 1890, this 4,344-square-foot apartment property contains five separate units on a 0.39-acre parcel. The configuration includes one three-bedroom, two-bath apartment and four one-bedroom, one-bath apartments. Every unit has a private entrance, while electricity is individually metered. Construction includes block and vinyl siding, with carpet flooring, ceiling fans, central and electric heating, and a combination of central air and window units. Off-street parking is provided.
The property is located in Brunswick’s Historic District at 1416 Lee Street. Downtown restaurants, shops, and local attractions are within walking distance, while St. Simons Island and Jekyll Island are described as a short drive away. Public water and public sewer serve the property, and water is available through the site’s utility connections.
The property is located in Brunswick’s Historic District at 1416 Lee Street. Downtown restaurants, shops, and local attractions are within walking distance, while St. Simons Island and Jekyll Island are described as a short drive away. Public water and public sewer serve the property, and water is available through the site’s utility connections.
Key Highlights
- Five separate apartment units with a 3‑bedroom, 2‑bath and four 1‑bedroom, 1‑bath layouts
- 4,344 square feet on a 0.39‑acre parcel
- All units are currently tenant‑occupied
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
$33,219
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
7.22%
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%
$664,380
$664.4K
Cap Rate 7%
$474,557
$474.6K
Cap Rate 9%
$369,100
$369.1K
Market Conditions
NOI Build-Up for 4,344 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
$64.1K $14.76/SF
− Vacancy
−$3.7K −$0.86/SF
EGI
$60.4K $13.90/SF
− OpEx
−$27.2K −$6.26/SF
NOI
$33.2K $7.65/SF
Area
Glynn County, GA
Vacancy
5.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$664,380
Cap Rate 7%
$474,557
Cap Rate 9%
$369,100
Alternative Uses
Best Use
Apartment 5plus
$474.6K
$415.2K – $553.7K
NOI $33,219 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$901.5K
$788.9K – $1.05M
NOI $63,108 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,012
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Tenant-occupied apartments provide private entrances and individually metered electricity.
Where is this apartment building located?
The property is located at 1416 Lee Street Brunswick, GA.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Five separate apartment units with a 3‑bedroom, 2‑bath and four 1‑bedroom, 1‑bath layouts; 4,344 square feet on a 0.39‑acre parcel; All units are currently tenant‑occupied
