Goodyear Auto Service Investment
For Sale
Contact for pricing
7991 US-51, Millington, TN 38053
Single-tenant Goodyear property in Millington, TN with corporate-backed net lease.
Property Size7,141 SF
Price / SF$133.03
Days on Market183
Property Features for 7991 US-51
General Information
Standard status
Active
Size
7,141 SF
Class
B
Property subtype
Retail
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$69,444
Building Details
Year Built
1989
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
North Star Brokerage & Advisory
(512) 647-1548
Listed By:
Landan Dory · License #693330
Source:
Crexi
Added: Feb 9
Changed: Aug 8
Last Checked: Aug 10 at 7:30AM
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 North Star Brokerage & Advisory
Investment Insights
Based on property information with market context.
This offering features a single-tenant Goodyear Auto Service property for sale, located at 7991 US Highway 51 North in Millington, Tennessee. The tenant has operated continuously at this location for over 35 years. The property is currently leased through September 2029, with approximately five years of remaining term, and includes built-in rent growth through a contractual extension option. The net lease structure offers investors predictable, passive income supported by a nationally recognized credit tenant in the Memphis MSA. The property size is 7141 square feet.
Key Highlights
- Corporate‑backed net lease provides predictable, passive income.
- Tenant has operated continuously at this location for over 35 years, demonstrating exceptional site viability.
- Located in the Memphis MSA.
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
$64,783
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
6.82%
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%
$1,295,660
$1.3M
Cap Rate 7%
$925,471
$925.5K
Cap Rate 9%
$719,811
$719.8K
Market Conditions
NOI Build-Up for 7,141 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
$102.8K $14.40/SF
− Vacancy
−$10.3K −$1.44/SF
EGI
$92.5K $12.96/SF
− OpEx
−$27.8K −$3.89/SF
NOI
$64.8K $9.07/SF
Area
Shelby County, TN
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,295,660
Cap Rate 7%
$925,471
Cap Rate 9%
$719,811
Alternative Uses
Best Use
Retail
$925.5K
$809.8K – $1.08M
NOI $64,783 @ 7.0% cap · market cap 6.82%
Second Best
Industrial
$640.8K
$560.7K – $747.7K
NOI $44,859 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,185 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38053, TN
26,839
Population
10,674
Households
2.5
Avg Household Size
42
Median Age
21%
College-Educated
88%
High-School Grad
162.4 sq mi
ZIP Area
165
Density / Sq Mi
$58,548
Median Household Income
$41,429
Median Earnings
$1,105
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Enterprise Rent-A-Car — 4694 Navy Rd, Millington, TN 38053
Frequently Asked Questions
What type of property is this?
Automotive property - Single-tenant Goodyear property in Millington, TN with corporate-backed net lease.
Where is this automotive property located?
The property is located at 7991 US-51 Millington, TN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Corporate‑backed net lease provides predictable, passive income.; Tenant has operated continuously at this location for over 35 years, demonstrating exceptional site viability.; Located in the Memphis MSA.
