11 De Renne AveSavannah, GA 31405

Property Details for 11 De Renne Ave

Year built

1967

Lot size

0.24 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $658,968

  6.5%

  $608,278

  7%

  $564,830

• Comparable approach

  Method

  Valuation

  Relative Method

  $250,855

  Geo Method

  $190,836

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,224,270

  Retail / Commercial

  $622,570

  Mixed-Use / Specialty

  $616,230

  Hospitality / Lodging

  $446,744

  Institutional / Educational

  $639,159

  Residential Income

  $747,816

  Multifamily

  $919,731

  Automotive / Energy

  $547,850

  Parking / Income-Based Land

  $193,127

  Restaurant / Food Service

  $311,713

  Healthcare / Senior Housing

  $636,158

Location Insight

City

Savannah

County

Chatham

State

Georgia

Latitude

32.0289

Longitude

-81.1123

CBSA code

42340

CBSA name

SAVANNAH, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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