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Views: 114 DOM: 157 Updated: 11.22.24 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 14.6
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 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.5% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 6,972 37,241 105,782
2024 Total Population : 6,755 35,958 102,602
2024 Employed Civilian Pop : 3,609 18,277 50,910
2024 Total Businesses : 237 752 2,927
2024 Average Household Income : $ 90,059 $ 94,094 $ 83,979
2024 Total Consumer Spending : $ 233 M $ 1215 M $ 3219 M
2024 Median Age : 42 40 39
2024 Total Households : 2,969 14,753 43,516
2024 Pop Age 25+: Bachelor's Degree : 1,243 5,288 14,116
2024 Average Home Value : $ 350,240 $ 359,395 $ 335,781
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
BISHOP RD. Bradley Bell Dr 2021 2,817 0.44 mi
I- 75 2021 14,548 0.47 mi
Gregg Rd 2021 3,182 0.51 mi
E Emory Rd 2021 16,557 0.52 mi
Gregg Rd 2021 3,709 0.54 mi
BEAVER CREEK DR. Leopard Way 2021 10,749 0.54 mi
SR 131 Holly Crest Ln 2021 28,511 0.58 mi
Bishop Rd N Meadow Blvd 2005 2,440 0.58 mi
SR 131 Blueberry Rd 2021 24,318 0.63 mi
E Emory Rd Holly Crest Ln 2005 20,210 0.65 mi

Listing Broker

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