3419 Elvis Presley Blvd - Take 5 Car Wash
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3419 Elvis Presley Blvd - Take 5 Car Wash
3,750 SF Speciality Building Offered at £2,636,057 at a 6.50% Net Initial Yield in Memphis, TN 38116
Investment Highlights
- Long-Term Absolute Triple Net (NNN) Lease Over 13 years of term remaining on the initial 20-year lease with zero landlord responsibilities.
- Strong Corporate Guarantee
- Attractive Rent Increases The lease will feature scheduled increases of 1.75% annually.
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Take 5 Car Wash located at 3419 Elvis Presley Blvd, Memphis, TN 38116. The site consists of roughly 3,750 rentable square feet of building space on an estimated 1.2-acre parcel of land. This Take 5 Car Wash is subject to a 20-year Triple Net (NNN) lease, which commenced 8/1/2018. The current annual rent is $218,746 and has scheduled increases of 1.75% annually.
Property Facts
| Price | £2,636,057 | Building Class | B |
| Price Per SF | £703 | Lot Size | 1.20 AC |
| Sale Type | Investment | Building Size | 3,750 SF |
| Net Initial Yield | 6.50% | Number of Floors | 1 |
| Property Type | Speciality | Year Built/Renovated | 2008/2023 |
| Property Subtype | Car Wash | Opportunity Zone |
Yes
|
| Price | £2,636,057 |
| Price Per SF | £703 |
| Sale Type | Investment |
| Net Initial Yield | 6.50% |
| Property Type | Speciality |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.20 AC |
| Building Size | 3,750 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 2008/2023 |
| Opportunity Zone |
Yes |
PROPERTY TAXES
| Parcel Number | 07-7010-0-0062 | Improvements Assessment | £184,075 |
| Land Assessment | £68,993 | Total Assessment | £253,069 |
PROPERTY TAXES
Parcel Number
07-7010-0-0062
Land Assessment
£68,993
Improvements Assessment
£184,075
Total Assessment
£253,069
zoning
| Zoning Code | CMU-3 |
| CMU-3 |
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3419 Elvis Presley Blvd - Take 5 Car Wash
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