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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office buildings
602 1st St Tybee Island, GA 31328-8841
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US22-0977099
Property summary
AI-generated overview
This exceptional 2,262 square foot single-tenant office building, located at 602 1st St, Tybee Island, GA 31328, presents a unique investment opportunity. Built in 2002, this Class B property sits on 0.3 acres and is zoned C-2, allowing for a variety of uses. The building features a flexible layout suitable for retail, medical, office, or restaurant operations. The entire 2,262 square feet is currently vacant, offering immediate occupancy. The property includes a convenient private parking lot. The building is a single-story structure, offering easy accessibility. Located in a highly desirable area, this property is just minutes from shopping, dining, and residential neighborhoods. The asking rent is $7,950 per month, NNN. Lease terms are negotiable. The property's versatility and prime location make it an ideal choice for a variety of businesses seeking a prominent presence in Tybee Island. Serious inquiries are encouraged to explore the potential of this exceptional commercial property.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1898
Total area
2,262 SF
Lot
0.3 ac (13,199 SF)
Zoning code
C2A
APN
4-0003 -07-003
UPID
US22-0977099
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$515k
Comparable Approach
Comparable
$541k
Blend (final)
Blend
$510k
Owner & transaction history
602 1st Street LLC · 8 yrs held
602 1st Street LLC
since 2017
3 recorded transactions
Zoning & alternative use
C2A · Tybee Island, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$795,000
+65.2%
Medical building
$715,000
+48.8%
Retail stores
$680,000
+41.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tybee Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tybee Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$515,000
7%
$480,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$480,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$795,000
Change: +65% · Conversion: Difficult
MEDICAL BUILDING
$715,000
Change: +49% · Conversion: Easy
RETAIL STORES
$680,000
Change: +42% · Conversion: Moderate
WAREHOUSE, STORAGE
$610,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$225 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$236,760
Assessed 2024
Previous assessed
$236,760
+0.0% YoY
Assessed land
$145,200
Assessed improvement
$91,560
Land market value
$363,000
Improvement market value
$228,900
Total market value
$591,900
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1898
Heating
NONE
Buildings
2
Stories
1
Total area
2,262 SF
Lot
0.3 ac (13,199 SF)
Zoning code
C2A
APN
4-0003 -07-003
UPID
US22-0977099
Jurisdiction
CHATHAM
Zoning & alternative use
C2A · Tybee Island, GA
Zoning C2A · permitted uses
C2A · Tybee Island, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tybee Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$480,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$795,000
MEDICAL BUILDING
Est. value
$715,000
RETAIL STORES
Est. value
$680,000
WAREHOUSE, STORAGE
Est. value
$610,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1898
Heating
NONE
Stories
1
Buildings
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
602 1st Street LLC
Entity
Mailing address
PO BOX 2497, TYBEE ISLAND, GA 31328-2497
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2017
$599,000
602 1st Street LLC
Freejlee LLC
Warranty Deed
$479,200 · Colony Bank
Feb 8, 2012
$550,001
Freejlee LLC
The Coastal Bank
Warranty Deed
$550,000 · Jelks Freeman N
Feb 7, 2012
$550,000
The Coastal Bank
Jewels Realty LLC
Foreclosure
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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