Automotive NNN Retail
1216 E De Renne Ave Savannah, GA 31406
For Sale
Contact for pricing
A newly leased automotive property with a corporate-guaranteed, absolute NNN structure and scheduled rent increases.
Property Size4,551 SF
Price / SF$616.81
Days on Market52
Property Features for 1216 E De Renne Ave
General Information
Standard status
Active
Size
4,551 SF
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Phoenix
(216) 292-7006
Listed By:
Alex Frankel · License #SA550593000
(216) 292-7006
Source:
Moodyscre
Added: Jun 9
Changed: Jul 29
Last Checked: Jul 29 at 11:20AM
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 Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This offering features a newly executed 20-year absolute NNN lease with a corporate guaranty. The lease includes 5% rental increases every five years and multiple renewal options. The corporate guaranty is provided by Mavis Tire Express Services Corp.
The property is described as being located just south of downtown Savannah in a densely populated trade area. Daytime population is stated to exceed 201,287 people within a 5-mile radius.
The asset is positioned as an automotive specialty/auto shop style property within the retail and NNN property categories, with the lease structure serving as the primary investment framework presented in the remarks.
The property is described as being located just south of downtown Savannah in a densely populated trade area. Daytime population is stated to exceed 201,287 people within a 5-mile radius.
The asset is positioned as an automotive specialty/auto shop style property within the retail and NNN property categories, with the lease structure serving as the primary investment framework presented in the remarks.
Key Highlights
- New 20‑year absolute NNN lease with a corporate guaranty
- 5% rental increases every five years, plus multiple renewal options
- Corporate guaranty by Mavis Tire Express Services Corp.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $397.6k | $87.36 |
| − Vacancy | −$47.3k | −$10.40 |
| EGI | $350.3k | $76.96 |
| − OpEx | −$105.1k | −$23.09 |
| NOI | $245.2k | $53.87 |
4,551 SF · lease $87.36/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Industrial
$3.50M
$3.06M – $4.09M
NOI $245,185 @ 7.0% cap · market cap 8.73%
Second Best
Retail
$738.0K
$645.8K – $861.0K
NOI $51,662 @ 7.0% cap · market cap 1.84%
Theoretical Best
Warehouse
$4.25M
$3.72M – $4.96M
NOI $297,724 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
NNN property - A newly leased automotive property with a corporate-guaranteed, absolute NNN structure and scheduled rent increases.
Where is this nnn property located?
The property is located at 1216 E De Renne Ave Savannah, GA.
What is the asking price?
The asking price for this property is $2,807,100.
What are key features of this property?
This property features: New 20‑year absolute NNN lease with a corporate guaranty; 5% rental increases every five years, plus multiple renewal options; Corporate guaranty by Mavis Tire Express Services Corp.
