Investment Overview

Marcus & Millichap is pleased to present the historic Zell Building, located at 502 Gloucester St. Brunswick, GA 31520. Fronting Gloucester St, this 9,106 SF two-story mixed-use retail/office property occupies boutique storefront shops and local professionals with suites ranging from 500-1350 SF. Situated upon 0.25 acres, this structure was built in 1935 and was renovated as recently as this January 2023, with a newly painted building exterior and sealed/striped parking lot, along with refurbished common areas on the second floor consisting of new floors, bathrooms, and paint. Since this owner’s acquisition nearly a year ago, he has signed/extended tenants with increased rent in 8 of the 13 suites and converted three leases to NNN, signifying a small portion of realized growth potential. Futhermore, substantial upside is still available in rent growth and term as the rents collected are still well below market rate.