Car Wash with Adjoining
For Sale
Contact for pricing
7500 Asheville Hwy, Knoxville, TN 37924
Automotive property combining a car wash with an adjoining Valvoline operation in Knoxville.
Property Size5,770 SF
Price / SF$346.62
Days on Market8
Property Features for 7500 Asheville Hwy
General Information
Standard status
Active
Size
5,770 SF
Property subtype
Special Purpose
Lease Type
NNN
Investment Type
Net Lease
Listing Agency:
Oliver Smith Realty & Development Company
(865) 584-2000
Listed By:
Oliver Smith · License #TN
Source:
Crexi
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 7:48PM
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 Oliver Smith Realty & Development Company
Investment Insights
Based on property information with market context.
This 5,770-square-foot automotive property combines a car wash with an adjoining Valvoline operation. The asset is located at 7500 Asheville Hwy in Knoxville, Tennessee, providing a commercial setting for two related vehicle-service uses.
Key Highlights
- 5,770‑square‑foot car wash property
- Adjoining Valvoline operation at 7500 Asheville Hwy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$96,707
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,934,140
$1.9M
Cap Rate 7%
$1,381,529
$1.4M
Cap Rate 9%
$1,074,522
$1.1M
Market Conditions
NOI Build-Up for 5,770 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.0K $23.40/SF
− Vacancy
−$6.1K −$1.05/SF
EGI
$128.9K $22.35/SF
− OpEx
−$32.2K −$5.59/SF
NOI
$96.7K $16.76/SF
Area
Knoxville, TN
Vacancy
4.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,934,140
Cap Rate 7%
$1,381,529
Cap Rate 9%
$1,074,522
Alternative Uses
Best Use
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,707 @ 7.0% cap · market cap 4.84%
Second Best
Retail
$1.18M
$1.04M – $1.38M
NOI $82,880 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,038 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 87%
Shops & Services 13%
Food City
Groceries
26,200 visits/mo
0.0 miles
O'Reilly Auto Parts
Shops & Services
2,541 visits/mo
0.4 miles
Valvoline Instant Oil Change
Shops & Services
1,433 visits/mo
0.1 miles
Demographics for 37924, TN
12,894
Population
6,052
Households
2.1
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
462
Density / Sq Mi
$73,794
Median Household Income
$40,594
Median Earnings
$1,020
Median Rent
$217,300
Median Home Value
Market
Vacancy Rate% for Retail in Knoxville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Automotive property combining a car wash with an adjoining Valvoline operation in Knoxville.
Where is this car wash located?
The property is located at 7500 Asheville Hwy Knoxville, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 5,770‑square‑foot car wash property; Adjoining Valvoline operation at 7500 Asheville Hwy
