Entity Owned Property summary
Exceptional investment opportunity: a fee-simple Zips Car Wash in Memphis, TN. This 3,041 square foot facility, built in 2021, sits on a 0.88-acre lot at 3294 Poplar Ave, 38111. The property boasts a strong 7.50% cap rate, generating a net operating income (NOI) of $280,915. Secured by a corporate guarantee, the NNN lease commenced September 1, 2022, and has a remaining term of 17.9 years, extending to September 30, 2042. Annual rent increases of 2.00% are built into the lease, providing consistent growth. Four five-year tenant renewal options exist, potentially extending the lease term to 40 years. The asking price is $3,745,534, translating to $1,231.68 per square foot. This property is eligible for 15-year accelerated depreciation and bonus depreciation, further enhancing its investment appeal. The tenant, Zips Car Wash, benefits from recent significant investment from Atlantic Street Capital, bolstering its financial stability and long-term prospects. This is a rare opportunity to acquire a high-performing, long-term leased asset in a prime Memphis location.
Property profile
VerifiedCap rate & NOI
Current use
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Construction Company General Contractor
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Physician
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Car Wash
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Medical Clinic
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Loan Service Bank
Location
Value estimations
Owner & transaction history
Zoning & alternative use
PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
CMU-1 · Memphis, TNPRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CMU-1 in Memphis, TN.
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- Property Ownership
- Basic report summary
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
