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Views: 64 DOM: 81 Updated: 08.22.24 Posted: 06.18.24 Status: Active

Summary

Price $5,469,000
Built/Renov 2016
Tenant Zips Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,380
Lease Start 05-16-2019
#Units 280
Price/SF $1,248.63
Expiration 05-31-2039
Tenant Type Automotive
NOI $355,504
R. Term 14.8
Ownership Fee Simple
Rent/SF $81.17
Increases 1.5%/1/yrs
Pop 5Mi 100,756
Lot/AC 1.26
Options 4/5yrs/1.5%
AHHI 5Mi $79,695

Lease Highlights

  • Zips Car Wash has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Zips Car Wash is strategically located on East Emory Road, with access to 28,500 vehicles passing by daily. The property is positioned across from North Knoxville Medical Center and is surrounded by well-known national tenants, including Chick-fil-A, Five Guys, Texas Roadhouse, McDonald’s, Starbucks, and more. Additionally, it is conveniently situated directly off Interstate 75 (81,800 VPD)....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Zips Car Wash
  • Guarantor:Corporate
  • Company:Zips Car Wash
  • # Units:280
  • Stock:Private

About Tenant

Zips Car Wash is the fastest-growing car wash company in the United States. They have over 280 locations in 25 states throughout the Southeastern and Central U.S. with approximately 1,600...


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Listing Broker

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