Medical Office Building with Exam
For Sale
$1,150,000
2228 Starling Street, Brunswick, GA 31520
Commercial Sale, Brunswick, GA
Property Size11,396 SF
Lot Size1.65 Acres
Price / SF$100.91
Days on Market164
Property Features for 2228 Starling Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Subdivision
Goodyear Park
Directions
Take Parkwood - turn right onto E Park Avenue. Turn left onto starling Street. You will see SHARE Building.
Standard status
Active
APN
0105856
Size
11,396 SF
Lot size
1.65 Acres
Taxes and HOA fees
Tax Description
LOT 1 BLOCK W GOODYEAR PARK
Legal Description
LOT 1 BLOCK W GOODYEAR PARK
Building Details
Floors in Building
1
Listing Agency:
BHHS Hodnett Cooper Real Estate · Berkshire Hathaway HomeServices
(912) 638-5450
Listed By:
George Skarpalezos, II · License #182287
(912) 258-5511
Added: Apr 17
Changed: Aug 19
Last Checked: Sep 27 at 12:06AM
MLS# 1661356
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.
Located at 2228 Starling Street in Brunswick, Georgia, this 11,396-square-foot medical office property occupies 1.65 acres. The building includes classrooms, exam rooms, private offices, 3 kitchens, and 8 bathrooms, creating a varied interior layout for medical or professional occupancy.
The property is situated near Southeast Georgia Health System's main campus. The owner requires a partial leaseback of the building, with terms to be negotiated. Showings are available by appointment.
The property is situated near Southeast Georgia Health System's main campus. The owner requires a partial leaseback of the building, with terms to be negotiated. Showings are available by appointment.
Key Highlights
- 11,396 SF medical office building on 1.65 acres
- Interior includes classrooms, exam rooms, and private offices
- 3 kitchens and 8 bathrooms
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
$104,279
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
9.07%
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%
$2,085,580
$2.1M
Cap Rate 7%
$1,489,700
$1.5M
Cap Rate 9%
$1,158,656
$1.2M
Market Conditions
NOI Build-Up for 11,396 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
$194.2K $17.04/SF
− Vacancy
−$20.4K −$1.79/SF
EGI
$173.8K $15.25/SF
− OpEx
−$69.5K −$6.10/SF
NOI
$104.3K $9.15/SF
Area
Glynn County, GA
Vacancy
10.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,085,580
Cap Rate 7%
$1,489,700
Cap Rate 9%
$1,158,656
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.93M
NOI $116,000 @ 7.0% cap · market cap 10.09%
Second Best
Healthcare Medical
$1.49M
$1.30M – $1.74M
NOI $104,279 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,557 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
884
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Classrooms, private offices, multiple kitchens, and bathrooms support a flexible medical office configuration.
Where is this medical office space located?
The property is located at 2228 Starling Street Brunswick, GA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 11,396 SF medical office building on 1.65 acres; Interior includes classrooms, exam rooms, and private offices; 3 kitchens and 8 bathrooms
