Renovated Wedding
For Sale
$425,000
1908 Gloucester Street, Brunswick, GA 31520
Commercial Sale, Brunswick, GA
Property Size1,408 SF
Lot Size0.24 Acres
Price / SF$301.85
Days on Market93
Property Features for 1908 Gloucester Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Security features
Security System
Fencing
Privacy, Fenced
Fireplace
1
Accessibility
Accessible Approach with Ramp
Appliances
Commercial Grade, Premium Appliances, Cooktop, Dishwasher, Gas Range, Indoor Grill, Microwave, Range, Refrigerator, Range Hood, Warming Drawer
Subdivision
Windsor Park
Elementary school
St. Simons
Middle school
Glynn Middle School
High school
Glynn Academy
Directions
Gloucester Street and corner of Sycamore Ave at Windsor Park.
Standard status
Active
APN
01-01768
Size
1,408 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 49 Windsor Park
Tax Annual Amount
802
Legal Description
Lot 49 Windsor Park
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
Pavilion with lights
privacy fence
lawn area
garage/storage building with coolers
irrigation system
Building Details
Year built
1928
Floors in Building
1
Flooring type
Hardwood
Listing Agency:
BHHS Hodnett Cooper Real Estate BWK · Berkshire Hathaway HomeServices
(912) 638-5450
Listed By:
Stephanie Webb · License #245521
(912) 223-0604
Added: Jun 15
Changed: Sep 15
Last Checked: Sep 15 at 4:06PM
MLS# 2000679
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 1,408-square-foot wedding venue occupies a 0.24-acre property and combines an updated event setting with operational kitchen infrastructure. The sale includes fixtures, equipment, and commercial kitchen appliances, including TRUE commercial freezers, a Southbend oven, a commercial double oven, and a grill. The kitchen also has a commercial hood with an air suppression system. Hardwood flooring, central HVAC, natural gas service, and an accessible ramp are among the property features.
Outdoor improvements include a lighted pavilion, grease trap, privacy fencing, lawn area, and a garage/storage building with coolers. Public water and sewer serve the property, with Georgia Power and natural gas utility service. Built in 1928, the venue is located at 1908 Gloucester Street in Brunswick. The real estate offering excludes the current business name, branding, and book of business.
Outdoor improvements include a lighted pavilion, grease trap, privacy fencing, lawn area, and a garage/storage building with coolers. Public water and sewer serve the property, with Georgia Power and natural gas utility service. Built in 1928, the venue is located at 1908 Gloucester Street in Brunswick. The real estate offering excludes the current business name, branding, and book of business.
Key Highlights
- 1,408‑square‑foot wedding venue on 0.24 acres
- Commercial kitchen with TRUE freezers, Southbend oven, double oven, and grill
- Commercial hood with air suppression system
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
$13,818
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
3.25%
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%
$276,360
$276.4K
Cap Rate 7%
$197,400
$197.4K
Cap Rate 9%
$153,533
$153.5K
Market Conditions
NOI Build-Up for 1,408 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
$19.8K $14.04/SF
− Vacancy
−$1.3K −$0.95/SF
EGI
$18.4K $13.09/SF
− OpEx
−$4.6K −$3.27/SF
NOI
$13.8K $9.81/SF
Area
Glynn County, GA
Vacancy
6.80%
Lease Rate
$14.04 /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%
$276,360
Cap Rate 7%
$197,400
Cap Rate 9%
$153,533
Alternative Uses
Best Use
Specialty Retail
$197.4K
$172.7K – $230.3K
NOI $13,818 @ 7.0% cap · market cap 3.25%
Second Best
Industrial
$91.6K
$80.2K – $106.9K
NOI $6,414 @ 7.0% cap · market cap 1.51%
Theoretical Best
Office A
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Yes
Commercial hood
Yes
Grease trap
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Wedding venue - Equipped hospitality property with a commercial kitchen, event pavilion, and supporting storage improvements.
Where is this wedding venue located?
The property is located at 1908 Gloucester Street Brunswick, GA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,408‑square‑foot wedding venue on 0.24 acres; Commercial kitchen with TRUE freezers, Southbend oven, double oven, and grill; Commercial hood with air suppression system
