4234 Hacks Cross Rd Memphis, TN 38125-3101

This exceptional investment opportunity presents a 4,751 square foot Zips Car Wash located at 4234 Hacks Cross Rd, Memphis, TN 38125. The property sits on a 1.04-acre lot and boasts a strong triple-net (NNN) lease with a corporate guarantee from a leading operator with over 280 locations nationwide. The lease commenced December 19, 2017, and has a remaining term of 13.6 years, expiring June 30, 2038. The lease includes six 5-year renewal options with 1.5% annual rent increases. The current annual net operating income (NOI) is $251,906, representing a 7.00% cap rate on the asking price of $3,598,660. The property benefits from its prime location on Hacks Cross Road, a major thoroughfare with over 37,000 vehicles per day, and its proximity to Hwy 385, which sees over 84,000 vehicles daily. The surrounding area features strong demographics, with a population of 164,365 within a 5-mile radius and an average household income of $115,191. Nearby schools include Southwind High School, Southwind Elementary School, Power Center Academy, and Lowrance K-8 School. The property was built in 2006 and offers potential tax advantages, including bonus depreciation (consult your tax advisor). This is a turnkey investment with a proven business model and significant upside potential. The property is situated near numerous national retailers, including Costco, Lowe's, Walmart, Sam's Club, Kroger, TopGolf, and more.