11 Derenne Ave Savannah, GA 31405-6701

Property Details for 11 Derenne Ave

Year built

1967

Lot size

0.24 lot acres

Property size

2,806 SF

Zone code

BC

Property type

Office buildings

APN

2-0127 -01-023

APU

2012701023

Description

This exceptional investment opportunity presents a 2,559-square-foot Starbucks located at 11 E Derenne Ave, Savannah, GA 31405, in Chatham County. The property sits on a 0.86-acre lot and boasts 21 parking spaces. Built in 2023, this single-tenant retail building is currently 100% occupied by Starbucks, an investment-grade tenant (S&P: BBB+). The Net Lease (NNN) structure offers a remaining lease term of approximately 9.3 years, extending to February 24, 2034. The lease includes four 5-year options, each with a 12.5% rent increase, with the first occurring in 2029. The current annual Net Operating Income (NOI) is $165,000, resulting in a 5.50% cap rate. The asking price is $3,000,000, translating to a price per square foot of $1,172.33. This prime location enjoys high visibility along East DeRenne Avenue, a high-traffic corridor with 50,200 vehicles per day. The property benefits from its proximity to Hunter Army Air Field, a major Savannah employer, and is situated near a new Chick-fil-A and Parker's Kitchen. This is a rare opportunity to acquire a landmark Starbucks location in a thriving Savannah, GA market (MSA population: 424,285), a coastal Georgia region fueled by the Port of Savannah, military, healthcare, and hospitality industries.