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3294 Poplar Ave - Zips Car Wash

3,041 SF Specialty Building Offered at $3,745,534 at a 7.50% Cap Rate in Memphis, TN 38111

Car Washes Tennessee Memphis 3294 Poplar Ave, Memphis, TN 38111

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • 2.00% Rental Increases Occurring Annually
  • Approximately 18 Years Remaining
  • Atlantic Street Capital Recently Announced it has made an Additional $70 Million Investment to Further Support Zips Car Wash

Executive Summary

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 Facts

Price $3,745,534 Lot Size 0.88 AC
Price Per SF $1,232 Building Size 3,041 SF
Sale Type Investment No. Stories 1
Cap Rate 7.50% Year Built 2021
Property Type Specialty Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype Car Wash
Price $3,745,534
Price Per SF $1,232
Sale Type Investment
Cap Rate 7.50%
Property Type Specialty
Property Subtype Car Wash
Lot Size 0.88 AC
Building Size 3,041 SF
No. Stories 1
Year Built 2021
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • Air Conditioning
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3294 Poplar Ave, Memphis, TN - aerial map view
Walk Score ®
Very Walkable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
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(332) 345-4222

  • Listing ID: 31024254

  • Date on Market: 2/22/2024

  • Last Updated:

  • Address: 3294 Poplar Ave, Memphis, TN 38111

The Specialty Property at 3294 Poplar Ave, Memphis, TN 38111 is currently available For Sale. Contact NNN Pro Group for more information.

Specialty PROPERTIES IN NEARBY NEIGHBORHOODS

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3294 Poplar Ave, Memphis, TN for sale Building Photo- Image 1 of 3
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3294 Poplar Ave, Memphis, TN for sale Aerial- Image 2 of 3
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3294 Poplar Ave - Zips Car Wash
(332) 345-4222 x

3294 Poplar Ave - Zips Car Wash

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Matthew Anuszkiewicz

(914) 403-7574

(914) 403-7574

Andrew Darby

(332) 345-7299

(332) 345-7299

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