Flex Space with 20-Foot
For Sale
$1,500,000
1603 Albany Street, Brunswick, GA 31520
Commercial Sale, Brunswick, GA
Property Size10,000 SF
Lot Size0.34 Acres
Price / SF$150
Days on Market297
Property Features for 1603 Albany Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
6
Directions
From Newcastle St, take a left onto G Street. In 0.4 miles, turn right onto Albany St. Building is 400 feet on your right.
Subdivision
B1: Brunswick
Standard status
Active
APN
01-02270
Lot size
0.34 Acres
Listing Agency:
Atlantic Partners Realty LLC
(904) 247-0059
Listed By:
Morris O'Quinn · License #403613
(912) 294-4959
Added: Oct 29, 2025
Changed: Aug 19
Last Checked: Aug 21 at 12:06AM
MLS# 1657715
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.
This 10,000-square-foot flex property occupies three adjoining lots and offers approximately 20-foot ceilings, a dry climate-controlled interior, and multiple entry points. The building includes a loading dock with 10x12 electric roll-up doors, downstairs men's and women's handicap-accessible restrooms, storage rooms, and a raised performance stage. An upper-level office includes a full bathroom and shower, while the former projector room overlooks the open floor plan and can support meetings, presentations, or training activities. The property is currently used as a gymnastics studio.
Formerly the Roxy Theater, the building dates to 1940–49 and is located in Brunswick's Old Town Historic District at the corner of Albany and F Streets. Its central position places it minutes from Glynn Academy, Brunswick High School, Frederica Academy, and the FJ Torras Causeway to St. Simons Island. The layout supports a range of flex, storage, athletic, equipment, and specialty commercial uses.
Formerly the Roxy Theater, the building dates to 1940–49 and is located in Brunswick's Old Town Historic District at the corner of Albany and F Streets. Its central position places it minutes from Glynn Academy, Brunswick High School, Frederica Academy, and the FJ Torras Causeway to St. Simons Island. The layout supports a range of flex, storage, athletic, equipment, and specialty commercial uses.
Key Highlights
- 10,000‑square‑foot building on 3 adjoining lots
- Approximately 20‑foot ceilings with dry, climate‑controlled interiors
- Loading dock with 10x12 electric roll‑up doors
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
$53,703
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
3.58%
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%
$1,074,060
$1.1M
Cap Rate 7%
$767,186
$767.2K
Cap Rate 9%
$596,700
$596.7K
Market Conditions
NOI Build-Up for 10,000 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
$90.0K $9.00/SF
− Vacancy
−$7.4K −$0.74/SF
EGI
$82.6K $8.26/SF
− OpEx
−$28.9K −$2.89/SF
NOI
$53.7K $5.37/SF
Area
Glynn County, GA
Vacancy
8.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,074,060
Cap Rate 7%
$767,186
Cap Rate 9%
$596,700
Alternative Uses
Best Use
Flex RnD
$767.2K
$671.3K – $895.1K
NOI $53,703 @ 7.0% cap · market cap 3.58%
Second Best
Industrial
$650.8K
$569.4K – $759.2K
NOI $45,553 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,277 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Under-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space with a loading dock, climate-controlled interiors, and multiple areas for storage, training, or operations.
Where is this flex space located?
The property is located at 1603 Albany Street Brunswick, GA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,000‑square‑foot building on 3 adjoining lots; Approximately 20‑foot ceilings with dry, climate‑controlled interiors; Loading dock with 10x12 electric roll‑up doors
