Second-Floor Office
For Sale
Contact for pricing
1700 Frederica Rd, Saint Simons Island, GA 31522
Second-floor office condo with elevator and stair access, exterior signage space, and ample parking; tenant occupied through 8/31/2024.
Property Size919 SF
Price / SF$300
Days on Market391
Property Features for 1700 Frederica Rd
General Information
Standard status
Active
Size
919 SF
Elevators
Yes
Property subtype
OFFICE
Occupancy
100%
Financials
Asking Price
$275,700
HOA Fee
$236
Additional Details
Floor
Second floor
Amenities
exterior signage space
Building Details
Tenancy
Multi
Owner Occupied
No
Listing Agency:
Driggers Commercial Group Inc.
(912) 634-5900
Listed By:
Robert Driggers · License #278693
(912) 506-9837
Source:
Moodyscre
Added: Aug 20, 2025
Changed: Sep 3
Last Checked: Sep 14 at 11:32AM
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.
Commercial office condo for sale in the 1700 Frederica Road building on Saint Simons Island. The space is on the second floor and is approximately 919 SF. Access is available via both elevator and stairs, with exterior signage space and ample parking.
The location is convenient to south and mid-island amenities, including the post office, restaurants, and shopping, much of which is within walking distance. The building includes a mix of professional and service-oriented users, such as an attorney, home health agency, pack and ship office, dry cleaner, and insurance office.
The unit is tenant occupied through 8/31/2024, providing continuity for an investor while also supporting an owner-user option for an incoming tenant transition.
The location is convenient to south and mid-island amenities, including the post office, restaurants, and shopping, much of which is within walking distance. The building includes a mix of professional and service-oriented users, such as an attorney, home health agency, pack and ship office, dry cleaner, and insurance office.
The unit is tenant occupied through 8/31/2024, providing continuity for an investor while also supporting an owner-user option for an incoming tenant transition.
Key Highlights
- Approximately 919 SF second‑floor office condo
- Tenant occupied through 8/31/2024
- Elevator and stair access for the second floor
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
$9,355
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
3.39%
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%
$187,100
$187.1K
Cap Rate 7%
$133,643
$133.6K
Cap Rate 9%
$103,944
$103.9K
Market Conditions
NOI Build-Up for 919 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
$16.0K $17.40/SF
− Vacancy
−$3.5K −$3.83/SF
EGI
$12.5K $13.57/SF
− OpEx
−$3.1K −$3.39/SF
NOI
$9.4K $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%
$187,100
Cap Rate 7%
$133,643
Cap Rate 9%
$103,944
Alternative Uses
Best Use
Office B
$133.6K
$116.9K – $155.9K
NOI $9,355 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$190.7K
$166.9K – $222.5K
NOI $13,351 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 31522, GA
16,892
Population
12,241
Households
1.4
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
53.4 sq mi
ZIP Area
316
Density / Sq Mi
$106,413
Median Household Income
$63,077
Median Earnings
$1,723
Median Rent
$498,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office condo with elevator and stair access, exterior signage space, and ample parking; tenant occupied through 8/31/2024.
Where is this office units located?
The property is located at 1700 Frederica Rd Saint Simons Island, GA.
What is the asking price?
The asking price for this property is $275,700.
What are key features of this property?
This property features: Approximately 919 SF second‑floor office condo; Tenant occupied through 8/31/2024; Elevator and stair access for the second floor
