3294 Poplar Ave, Memphis, TN 38111
3,041 SF Specialty Building Offered at $3,745,534 at a 7.50% Cap Rate in Memphis, TN 38111
For Sale
Active
Asking Price $3,745,534
- Property Type
-
Specialty
- Square Feet
- 3,041 SF
- Price / Square Foot
- $1,232
Listing Contacts
Glen Kunofsky
Matthew Anuszkiewicz
Andrew Darby
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
- Atlantic Street Capital Recently Announced it has made an Additional $70 Million Investment to Further Support Zips Car Wash
Nearby Properties
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