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Avis/Budget 3108 W Tennessee St 820 SF Retail Building Tallahassee, FL 32304 $1,347,000 ($1,642.68/SF) 6.40% Cap Rate
Investment Highlights
- Recently Renovated (2024)
- Prime W Tennessee Frontage
- 6.4% Cap on Stabilized NOI
- ±5½ Years on a Triple-Net Lease
- National Tenant: Avis & Budget
- Established Corridor Co- Tenancy
Executive Summary
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
820 SF
Building Class
B
Year Built
1991
Price
$1,347,000
Price Per SF
$1,642.68
Cap Rate
6.40%
NOI
$86,151
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
0.60 AC
Zoning
CP - Commercial
Parking
14 Spaces (17.07 Spaces per 1,000 SF Leased)
Frontage
151’ on W Tennessee St
Amenities
- Pylon Sign
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 10
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