Two-Story Office
For Sale
$990,000
1522 Richmond St, Brunswick, GA 31520
Masonry-and-steel office property with separate entrances, refreshed HVAC systems, and rooftop solar generation.
Property Size4,800 SF
Price / SF$206.25
Days on Market13
Property Features for 1522 Richmond St
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
9
Additional Details
Utilities to Site
Yes
Sprinkler System
Yes
Building Details
Year Built
1950
Buildings
1
Stories
2
Construction
masonry and steel
Tenancy
Multi
Owner Occupied
Yes
Abandoned
No
Listing Agency:
Driggers Commercial Group, Inc
(912) 506-9837
Listed By:
Robert Driggers · License #278693
Source:
Brockteam
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 28 at 7:22AM
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 Driggers Commercial Group, Inc
Investment Insights
Based on property information with market context.
Built in 1950, this 4,800-square-foot masonry-and-steel office building in downtown Brunswick has two floors with independent entrances. The ground level is occupied by month-to-month office tenants who may remain or vacate, while the upper floor is owner-occupied and has supported law and architecture offices. Large windows provide abundant natural light, complemented by attractive interior finishes, fire sprinklers, and three power meters.
Building improvements include HVAC replacement within the past five years, a recently applied roof coating, window reglazing completed last year, and a rooftop solar installation designed to reduce power consumption. The property includes 9 on-site parking spaces, with additional street parking available. It sits behind the historic Ritz Theater and within walking distance of restaurants, banks, shops, and neighboring offices. The building may be delivered with the ground-floor occupants in place or fully vacant.
Building improvements include HVAC replacement within the past five years, a recently applied roof coating, window reglazing completed last year, and a rooftop solar installation designed to reduce power consumption. The property includes 9 on-site parking spaces, with additional street parking available. It sits behind the historic Ritz Theater and within walking distance of restaurants, banks, shops, and neighboring offices. The building may be delivered with the ground-floor occupants in place or fully vacant.
Key Highlights
- 4,800 SF two‑story office building constructed in 1950
- Separate entrances serve the two floors; ground‑floor tenants are month‑to‑month
- HVAC systems replaced within the past five years
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
$48,859
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
4.94%
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%
$977,180
$977.2K
Cap Rate 7%
$697,986
$698.0K
Cap Rate 9%
$542,878
$542.9K
Market Conditions
NOI Build-Up for 4,800 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
$83.5K $17.40/SF
− Vacancy
−$18.4K −$3.83/SF
EGI
$65.1K $13.57/SF
− OpEx
−$16.3K −$3.39/SF
NOI
$48.9K $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%
$977,180
Cap Rate 7%
$697,986
Cap Rate 9%
$542,878
Alternative Uses
Best Use
Office B
$698.0K
$610.7K – $814.3K
NOI $48,859 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$996.2K
$871.7K – $1.16M
NOI $69,733 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,120
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Masonry-and-steel office property with separate entrances, refreshed HVAC systems, and rooftop solar generation.
Where is this office building located?
The property is located at 1522 Richmond St Brunswick, GA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 4,800 SF two‑story office building constructed in 1950; Separate entrances serve the two floors; ground‑floor tenants are month‑to‑month; HVAC systems replaced within the past five years
