Listed by Premier Commercial Group
$1,347,000
Avis & Budget at W Tennessee
Details
Property Type Retail
Sub Type Net Lease
Square Footage 820
Units 1
Cap Rate 6.40%
NOI $86,151
Occupancy 100%
Tenancy Single
Brand/Tenant Avis
Lease Type NNN
Remaining Term 5.5
Class A
Year Renovated 2024
Buildings 1
Acreage 0.610
Investment Type Net Lease
Ground Lease No
Retail | 6.40% CAP | 820 SqFt
Marketing description
3108 West Tennessee Street is a fully renovated (2024) single-tenant net-lease investment in Tallahassee, Florida. The 820 SF freestanding building is leased to Avis & Budget Rent a Car — a nationally recognized rental-car brand — under a triple-net lease with approximately five and a half years remaining. The property sits along Tallahassee's primary corridor for automotive dealerships and national retailers, with strong frontage on W Tennessee Street and proven co-tenancy that includes Home Depot, Walgreens, Capital City Bank, Mercedes-Benz, AutoZone, and a deep mix of national QSR and convenience operators. NOI of $86,151.24 (based on 2/1/2027) delivers a 6.4% cap rate on the $1,347,000 offering price.
Investment highlights
- Recently Renovated (2024) — A fully renovated 820 SF freestanding building delivered as a turnkey asset — zero deferred maintenance, modern condition, ready for long-term income.
- National Tenant: Avis & Budget — Leased to Avis & Budget Rent A Car — a nationally recognized rental-car brand with a proven retail format and long-standing presence in the Tallahassee market.
- ±5½ Years on a Triple-Net Lease — Approximately five and a half years remaining on a triple-net lease — long-term, predictable income with minimal landlord responsibilities.
- 6.4% Cap on Stabilized NOI — A 6.4% cap rate on $86,151.24 of NOI (based on 2/1/2027) — a clean, tangible yield from a national-credit tenant in a stabilized format.
- Prime W Tennessee Frontage — Strong frontage on West Tennessee Street, Tallahassee's primary corridor for automotive dealerships and national retailers — high visibility and steady daily traffic.
- Established Corridor Co-Tenancy — Surrounded by Home Depot, Walgreens, Capital City Bank, Mercedes-Benz, AutoZone, Advance Auto Parts, McDonald's, Wendy's, Burger King, Exxon and a deep mix of national operators.
Listing Contacts
Listed by Premier Commercial Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$86,151.24
$7,179.27/mo
Valuation Metrics
0
DSCR
6.4%
Cap Rate
6.4%
ROI
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