Zips Car Wash on NNN
420 Neal Street, Cookeville, TN 38501
For Sale
Contact for pricing
The property includes a substantial building footprint on an approximately 0.8-acre site.
Property Size5,971 SF
Lot Size0.80 Acres
Price / SF$512.61
Days on Market39
Property Features for 420 Neal Street
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Net Operating Income
Tenancy & Operations
Tenant in Place
In-Place Lease Type
Current Tenants
Real Estate Included
Additional Details
Automotive Uses
Building Details
Buildings
Tenancy
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Oct 2
Changed: Nov 8
Last Checked: Nov 8 at 2:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
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Investment Insights
Based on property information with market context.
Zips Car Wash occupies a 5,971-square-foot building on an approximately 0.8-acre parcel at 420 Neal Street in Cookeville, Tennessee.
The property is subject to a 30-year triple-net lease that began March 16, 2015, with annual rent increases of 1.75%.
The property is subject to a 30-year triple-net lease that began March 16, 2015, with annual rent increases of 1.75%.
Key Highlights
- 5,971 rentable square feet of building space
- Approximately 0.8‑acre parcel
- 30‑year NNN lease commenced 3/16/2015
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,845
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,976,900
$2.0M
Cap Rate 7%
$1,412,071
$1.4M
Cap Rate 9%
$1,098,278
$1.1M
Market Conditions
NOI Build-Up for 5,971 SF
Gross rent
$137.6K $23.04/SF
− Vacancy
−$5.8K −$0.97/SF
EGI
$131.8K $22.07/SF
− OpEx
−$32.9K −$5.52/SF
NOI
$98.8K $16.55/SF
Area
Putnam County, TN
Vacancy
4.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,976,900
Cap Rate 7%
$1,412,071
Cap Rate 9%
$1,098,278
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $98,845 @ 7.0% cap · market cap 3.23%
Second Best
Retail
$1.33M
$1.17M – $1.56M
NOI $93,411 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$2.46M
$2.16M – $2.88M
NOI $172,504 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 38501, TN
41,141
Population
19,158
Households
2.1
Avg Household Size
33
Median Age
31%
College-Educated
88%
High-School Grad
87.1 sq mi
ZIP Area
472
Density / Sq Mi
$50,923
Median Household Income
$30,191
Median Earnings
$856
Median Rent
$245,100
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Car wash - The property includes a substantial building footprint on an approximately 0.8-acre site.
Where is this car wash located?
The property is located at 420 Neal Street Cookeville, TN.
What is the asking price?
The asking price for this property is $3,060,786.
What are key features of this property?
This property features: 5,971 rentable square feet of building space; Approximately 0.8‑acre parcel; 30‑year NNN lease commenced 3/16/2015
