For Sale
$3,365,323

3419 Elvis Presley Blvd Memphis, TN 38116

High-return car wash, long-term lease.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a fee-simple ownership of a Take 5 Car Wash located at 3419 Elvis Presley Blvd, Memphis, TN 38116. The property boasts 3,750 square feet on a 1.2-acre lot and features a 20-year triple-net (NNN) lease with over 13 years remaining (expiring 07/31/2038; commenced 08/01/2018). The lease includes annual rent increases of 1.75%, ensuring consistent income growth. Currently generating a NOI of $218,746, representing a 6.50% cap rate on the $3,365,323 asking price ($897.42/sq ft). Built in 2008 and renovated in 2023, this car wash benefits from a strong corporate guarantee from International Car Wash Group, Ltd., a national operator with over 1,000 units. The property offers significant long-term value with minimal landlord responsibilities, making it an attractive addition to any commercial real estate portfolio. This is a single-tenant property with zero landlord responsibilities. The lease is a corporate guaranteed NNN lease.

Highlights

  • 13+ years remaining on a 20-year absolute triple-net (NNN) lease; zero landlord responsibilities.
  • Annual rent increases of 1.75% are scheduled.
  • Strong corporate guarantee from International Car Wash Group, Ltd., operating over 1,000 units nationwide.

Property Details for 3419 Elvis Presley Blvd

Property type
Specialty properties, Car washes
Square Feet
3,750 SF
Year Built/Renovated
2008/2023
Lot Size (sq. ft)
52,272 SF

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.0555473
Longitude
-90.025595

FAQs

What type of property is this?
Specialty property - High-return car wash, long-term lease.
Where is the specialty property located?
The property is located at 3419 Elvis Presley Blvd Memphis, TN.
What is the asking price?
The asking price for this property is $3,365,323.
What are key features of this property?
This property features: 13+ years remaining on a 20-year absolute triple-net (NNN) lease; zero landlord responsibilities.; Annual rent increases of 1.75% are scheduled.; Strong corporate guarantee from International Car Wash Group, Ltd., operating over 1,000 units nationwide.
How can I contact the broker?
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3419 Elvis Presley Blvd
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