592 Emory RdPowell, TN 37849

Property Details for 592 Emory Rd

Year built

2016

Construction

LIGHT FRAME

Lot size

1.26 AC

Property size (Sq ft)

4,410 SF

Property type

Retail properties

Property subtype

Other car washes

APN

047 08615

APU

4708615

Description

Exceptional investment opportunity: a 4,380 sq ft Zips Car Wash in Powell, TN, boasting a strong 6.50% cap rate and $355,504 NOI. This strategically positioned property enjoys a 14.5-year remaining lease term (with four 5-year options) and benefits from a credit-rated tenant, Zips Car Wash, LLC, with a proven track record of over 280 units in operation. Located on a 1.26-acre lot at 592 E Emory Rd, Powell, TN 37849, this car wash enjoys high visibility due to its proximity to Interstate 75 (81,800 vehicles per day) and its location across from the Knoxville Medical Center. The property's strong tenant synergy is further enhanced by its proximity to numerous national credit tenants, including Chick-fil-A, Five Guys, Texas Roadhouse, McDonald's, Starbucks, and CVS. Built in 2016, the car wash features a lease with 1.50% annual rent bumps, providing consistent income growth. The absolute NNN lease commenced May 16, 2019, and expires May 31, 2039. This offering presents a compelling opportunity for investors seeking a stable, high-performing asset with significant long-term potential. The property qualifies for bonus depreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,658,487

  6.5%

  $1,530,911

  7%

  $1,421,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $914,950

  Geo Method

  $914,950

• Alternative Use

  Use

  Valuation

  Residential

  $1,291,381

  Hospitality

  $1,182,898

  Educational

  $984,157

  Medical

  $1,018,004

  Retail

  $1,530,911

Location Insight

City

Powell

County

Knox

State

Tennessee

Latitude

36.0505

Longitude

-83.9923

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].