Entity Owned Property summary
This exceptional investment opportunity presents a fee-simple ownership of a Take 5 Car Wash located at 3419 Elvis Presley Blvd, Memphis, TN 38116. The property boasts 3,750 square feet on a 1.2-acre lot and features a 20-year triple-net (NNN) lease with over 13 years remaining (expiring 07/31/2038; commenced 08/01/2018). The lease includes annual rent increases of 1.75%, ensuring consistent income growth. Currently generating a NOI of $218,746, representing a 6.50% cap rate on the $3,365,323 asking price ($897.42/sq ft). Built in 2008 and renovated in 2023, this car wash benefits from a strong corporate guarantee from International Car Wash Group, Ltd., a national operator with over 1,000 units. The property offers significant long-term value with minimal landlord responsibilities, making it an attractive addition to any commercial real estate portfolio. This is a single-tenant property with zero landlord responsibilities. The lease is a corporate guaranteed NNN lease.
Property profile
VerifiedCap rate & NOI
Current use
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Car Wash
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Car Wash
Location
Value estimations
Owner & transaction history
Zoning & alternative use
3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations w…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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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-3 · Memphis, TN3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations w…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations w…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CMU-3 in Memphis, TN.
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