Flexible Office
For Sale
$590,000
1600 Union St, Brunswick, GA 31520
Professional office property near the courthouse with divisible suites, dedicated parking, and a separate storage building.
Property Size2,590 SF
Price / SF$227.80
Days on Market31
Property Features for 1600 Union St
General Information
Standard status
Active
Size
2,590 SF
Total Parking Spaces
8
Building Details
Year Built
1970
Listing Agency:
Driggers Commercial Group, Inc
(912) 506-9837
Listed By:
Robert Driggers · License #278693
Source:
Annakintown
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 25 at 3:59AM
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.
This office building offers a versatile professional layout with eight offices, a conference room, reception and administrative areas, a work room, a substantial break room, and three bathrooms, including one ADA-compliant facility. The interior can be arranged as two independent office spaces that share the main entrance and conference room.
The property includes on-site parking for 8 cars, additional on-street parking, and a small storage building. It is located one block from Gloucester Street, within view of the Glynn County Courthouse, professional offices, and banking institutions. Restaurants and everyday services are within a short walk. An NNN lease structure is also being considered.
The property includes on-site parking for 8 cars, additional on-street parking, and a small storage building. It is located one block from Gloucester Street, within view of the Glynn County Courthouse, professional offices, and banking institutions. Restaurants and everyday services are within a short walk. An NNN lease structure is also being considered.
Key Highlights
- Eight‑office layout with conference room, reception, admin areas, work room, and break room
- Two independent office spaces can share the entrance and conference room
- Three bathrooms, including one ADA‑compliant facility
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
$26,364
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
4.47%
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%
$527,280
$527.3K
Cap Rate 7%
$376,629
$376.6K
Cap Rate 9%
$292,933
$292.9K
Market Conditions
NOI Build-Up for 2,590 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
$45.1K $17.40/SF
− Vacancy
−$9.9K −$3.83/SF
EGI
$35.2K $13.57/SF
− OpEx
−$8.8K −$3.39/SF
NOI
$26.4K $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 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%
$527,280
Cap Rate 7%
$376,629
Cap Rate 9%
$292,933
Alternative Uses
Best Use
Office B
$376.6K
$329.6K – $439.4K
NOI $26,364 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.5K
$470.3K – $627.1K
NOI $37,627 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,159
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 - Professional office property near the courthouse with divisible suites, dedicated parking, and a separate storage building.
Where is this office building located?
The property is located at 1600 Union St Brunswick, GA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Eight‑office layout with conference room, reception, admin areas, work room, and break room; Two independent office spaces can share the entrance and conference room; Three bathrooms, including one ADA‑compliant facility
