Zip's Car Wash
3,041 SF Specialty Building Offered at $4,322,000 at a 6.50% Cap Rate in Memphis, TN 38111
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,322,000
- Property Type
-
Specialty
- Square Feet
- 3,041 SF
- Price / Square Foot
- $1,421
Listing Contacts
Glen Kunofsky
Verified Profile
Matthew Anuszkiewicz
Verified Profile
Robert Stein
Verified Profile
Andrew Darby
Verified Profile
- Property Info
Property Overview
The NNN Pro Group is pleased to present the exclusive listing for the Zips Car Wash located at 3294 Poplar Avenue, Memphis, TN 38111. The site will consist of roughly 3,041 rentable square feet of building space on estimated 0.88-acre parcel of land. The Zips Car Wash is subject to an absolute triple-net (NNN) lease that commenced on 9/01/2022. The initial annual rent is $280,915 and is scheduled to increase by 2.00% annually throughout the base term and continuing through 4, 5-Year Options.
Property Details
- Year Built
- 2021
- Stories
- 1
- Property Subtype
- Car Wash
- Lot Size (sq. ft)
- 38,333 SF
Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Approximately 18 Years Remaining
- 2.00% Rental Increases Occurring Annually
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