Three-Story Multifamily Property with
For Sale
$2,600,000
605 6th St, Tybee Island, GA 31328
Modern three-floor property featuring elevator access, marsh views, a pool, and water access near the beach.
Property Size7,818 SF
Price / SF$332.57
Days on Market319
Property Features for 605 6th St
General Information
Standard status
Active
Size
7,818 SF
Elevators
Yes
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
pool
Building Details
Stories
3
Listing Agency:
Parker Scott Properties
(912) 897-6320
Listed By:
Samuel O. Clark · License #421582
(912) 661-6142
Source:
Exprealty
Added: Oct 20, 2025
Changed: Sep 2
Last Checked: Sep 2 at 1:20AM
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 Parker Scott Properties
Investment Insights
Based on property information with market context.
This 7,818 SF multifamily property at 605 6th St offers modern construction across three floors, with high ceilings, abundant natural light, and yellow pine flooring throughout. Each bathroom is a full bathroom, and an elevator provides access to every level. The hardscaped yard includes a pool and is designed for low-maintenance use.
The property overlooks marshland from its windows and is within a short walk of the beach. Water access is available, with the ability to build a dock. Units A & B are also available separately.
The property overlooks marshland from its windows and is within a short walk of the beach. Water access is available, with the ability to build a dock. Units A & B are also available separately.
Key Highlights
- 7,818 SF multifamily property at 605 6th St, Tybee Island, GA
- Elevator access to all three floors
- Pool within a fully hardscaped yard
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
$76,873
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
2.96%
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%
$1,537,460
$1.5M
Cap Rate 7%
$1,098,186
$1.1M
Cap Rate 9%
$854,144
$854.1K
Market Conditions
NOI Build-Up for 7,818 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
$149.2K $19.08/SF
− Vacancy
−$9.4K −$1.20/SF
EGI
$139.8K $17.88/SF
− OpEx
−$62.9K −$8.05/SF
NOI
$76.9K $9.83/SF
Area
Chatham County, GA
Vacancy
6.30%
Lease Rate
$19.08 /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%
$1,537,460
Cap Rate 7%
$1,098,186
Cap Rate 9%
$854,144
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$960.9K – $1.28M
NOI $76,873 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.31M
$6.39M – $8.52M
NOI $511,450 @ 7.0% cap · market cap 19.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 31328, GA
3,430
Population
3,490
Households
1
Avg Household Size
60
Median Age
49%
College-Educated
97%
High-School Grad
9.2 sq mi
ZIP Area
373
Density / Sq Mi
$105,669
Median Household Income
$42,280
Median Earnings
$1,205
Median Rent
$615,200
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?
Multifamily property - Modern three-floor property featuring elevator access, marsh views, a pool, and water access near the beach.
Where is this multifamily property located?
The property is located at 605 6th St Tybee Island, GA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 7,818 SF multifamily property at 605 6th St, Tybee Island, GA; Elevator access to all three floors; Pool within a fully hardscaped yard
