Automotive NNN Retail
For Sale
Contact for pricing
1216 East DeRenne Avenue, Savannah, GA 31406
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 Market87
Property Features for 1216 East DeRenne Avenue
General Information
Standard status
Active
Size
4,551 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$160,000
Building Details
Year Built
2024
Tenancy
Single
Listing Agency:
Marcus & Millichap - Columbus
(479) 785-4343
Listed By:
Alex Frankel · License #OH 2017002396
Source:
Crexi
Added: Jun 5
Changed: Aug 26
Last Checked: Aug 28 at 11:32PM
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 - Columbus
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
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
$245,185
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
8.73%
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%
$4,903,700
$4.9M
Cap Rate 7%
$3,502,643
$3.5M
Cap Rate 9%
$2,724,278
$2.7M
Market Conditions
NOI Build-Up for 4,551 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
$397.6K $87.36/SF
− Vacancy
−$47.3K −$10.40/SF
EGI
$350.3K $76.96/SF
− OpEx
−$105.1K −$23.09/SF
NOI
$245.2K $53.87/SF
Area
Savannah, GA
Vacancy
11.90%
Lease Rate
$87.36 /SF/Yr
Expense Ratio
30.00%
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%
$4,903,700
Cap Rate 7%
$3,502,643
Cap Rate 9%
$2,724,278
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,791
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 37%
Electronics 2%
Beauty & Spa 1%
McDonald's
Dining
29,632 visits/mo
0.5 miles
Shell
Shops & Services
14,230 visits/mo
0.2 miles
Wendy's
Dining
13,321 visits/mo
0.3 miles
Truist
Shops & Services
8,239 visits/mo
0.4 miles
Tropical Smoothie Cafe
Dining
6,963 visits/mo
0.1 miles
Demographics for 31406, GA
34,579
Population
15,424
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
26.2 sq mi
ZIP Area
1,320
Density / Sq Mi
$66,084
Median Household Income
$41,512
Median Earnings
$1,340
Median Rent
$260,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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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 East DeRenne Avenue 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.
