Multifamily Apartment
For Sale
$850,000
Pending
2001 Gloucester Street, Brunswick, GA 31520
Residential Income, Brunswick, GA
Property Size10,000 SF
Lot Size0.54 Acres
Days on Market173
Property Features for 2001 Gloucester Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
16
Bathrooms
14
Full bathrooms
14
Rooms
Bathroom 12, Bedroom 1, Bathroom 5, Bathroom 3, Bedroom 10, Bathroom 11, Bathroom 4, Bedroom 2, Bathroom 13, Bedroom 5, Bedroom 15, Bathroom 9, Bedroom 16, Bedroom 7, Bedroom 3, Bathroom 1, Bathroom 10, Bathroom 7, Bathroom 8, Bedroom 12, Bedroom 8, Bedroom 6, Bathroom 6, Bedroom 9, Bedroom 13, Bedroom 14, Bathroom 2, Bathroom 14, Bedroom 11, Bedroom 4
Subdivision
Urbana
Directions
On the corner of Gloucester and Tillman Ave
Standard status
Pending
APN
01-02616
Size
10,000 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 5,6, & 7 URBANA
Tax Annual Amount
3426
Legal Description
LOTS 5,6, & 7 URBANA
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1960
Building materials
Block
Roof type
Asphalt
Listing Agency:
N R Foster Properties, Inc.
(912) 265-3678
Listed By:
Sharon Foster · License #100251
(912) 230-5416
Added: Mar 2
Changed: Aug 19
Last Checked: Aug 22 at 9:06PM
MLS# 1660184
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 multifamily apartment building offers 14 apartments, including twelve one-bedroom units and two two-bedroom, one-bath units. The building is constructed with block materials and features electric heating with central heating, along with central air electric cooling. Roof coverage is listed as asphalt.
Power and water are included in the rents, and the listing notes that all units may not be viewable at the first showing.
The property sits on a 0.54-acre lot. Constructed in 1960, it is positioned for long-term residential income use.
Power and water are included in the rents, and the listing notes that all units may not be viewable at the first showing.
The property sits on a 0.54-acre lot. Constructed in 1960, it is positioned for long-term residential income use.
Key Highlights
- 14 apartments: twelve one‑bedroom units and two two‑bedroom, one‑bath units
- 0.54‑acre lot
- Central electric heating with electric heating noted
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
$76,472
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
9.00%
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%
$1,529,440
$1.5M
Cap Rate 7%
$1,092,457
$1.1M
Cap Rate 9%
$849,689
$849.7K
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
$147.6K $14.76/SF
− Vacancy
−$8.6K −$0.86/SF
EGI
$139.0K $13.90/SF
− OpEx
−$62.6K −$6.26/SF
NOI
$76.5K $7.65/SF
Area
Glynn County, GA
Vacancy
5.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$1,529,440
Cap Rate 7%
$1,092,457
Cap Rate 9%
$849,689
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$955.9K – $1.27M
NOI $76,472 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,277 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fourteen apartments with central electric heating and cooling, built in 1960, on a 0.54-acre lot.
Where is this apartment building located?
The property is located at 2001 Gloucester Street Brunswick, GA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 14 apartments: twelve one‑bedroom units and two two‑bedroom, one‑bath units; 0.54‑acre lot; Central electric heating with electric heating noted
