Zips Car Wash

693 South Willow Avenue, Cookeville, TN 38501

$3,986,415

Cap Rate 7.00%

Views: 40 DOM: 28 Updated: 11.05.24 Posted: 10.24.24 Status: Active

Summary

Price $3,986,415	Built/Renov 2012	Tenant Zips Car Wash
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,038	Lease Start 12-19-2017	#Units 280
Price/SF $987.23	Expiration 06-30-2038	Tenant Type Automotive
NOI $279,049	R. Term 13.7	Ownership Fee Simple
Rent/SF $69.11	Increases 1.5%/1/yrs	Pop 5Mi 53,780
Lot/AC 0.76	Options 6/5yrs/1.5%	AHHI 5Mi $72,976

Lease Highlights

Zips Car Wash has 13+ years remaining on the current lease term with 6 (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
Potential for 60% bonus depreciation through the Tax Cuts and Jobs Act of 2017 | Consult your CPA
Corporate guaranteed lease

Location Description

Zips Car Wash is strategically located on S Willow Avenue, a major thoroughfare with access to 21,030 vehicles passing by daily. The property is also situated near I-40, which sees 58,071 VPD. Additionally, it is in close proximity to Tennessee Tech University, which serves over 10,000 students. The surrounding area features prominent national retailers, including Firestone, NAPA, Ace...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Freeway close
Income tax free state
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Annual rent increases
Corporate Guarantee

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Links

Zips Car Wash Wikipedia Cookeville, Tennessee Zip Code 38501 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

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

About Tenant

Zips Car Wash, headquartered in Plano, Texas, operates over 280 locations in 25 states under the brands Zips Car Wash, Rocket Express Car Wash, and Jet Brite Car Wash. With nearly 20 years in the...

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Listing Broker

Keith Sturm

Upland Real Estate Group, Inc.

Contact

68 Listings
6005 Views
10 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

68 Listings
6005 Views
10 Sold

Keith Sturm

With over 25 years of experience in commercial real estate, Keith Sturm is the Principal and CEO of Upland Real Estate Group, Inc, which he founded in 1995. Under his leadership, Upland has been consistently recognized as one of the top commercial real estate brokerage firms by the Minneapolis/St. Paul Business Journal. Keith has also been awarded the “Power Broker” in four out of five years since 2010, as a Top Brokerage Firm in Sales Transactions by Real Estate Forum and CoStar. Keith has man

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Amanda Leathers

Amanda Leathers has over sixteen years of experience working in net lease sales with a highly motivated and successful team. As an Investment Sales Associate, she has contributed in the completion of over 900 transactions, totaling in excess of $2.8 billion in investment sales nationally. Amanda attended St. Cloud State University, graduating with a Bachelor of Science in Real Estate from the Herberger Business School. Most of her professional career has been at Upland, giving her a unique o

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Deb Vannelli

Upland Real Estate Group, Inc.

Contact

68 Listings
6005 Views
10 Sold

Deb Vannelli

Deborah Vannelli began her commercial real estate career over twenty-five years ago. Today, Deb is the Director of Net Lease Sales in the Minneapolis-based Upland Real Estate Group, Inc., and she has led her team to complete in excess of 900 net lease sales transactions, which have generated over $2.8 billion. Deb specializes in net lease investment sales on a national scale, representing buyers, sellers, and tenants on the sale or purchase of single and multi-tenant, net-leased investment p

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