4416 Western Ave - Car Washes FOR SALE


Knoxville, TN 37921- Westside
$2,370,000 USD
954-703-3602
4416 Western Ave, Knoxville, TN for Sale
$2,370,000 USD
Car Washes - FOR SALE
1/12
null | 6.75% Cap Rate

4416 Western Ave
Knoxville, TN 37921
Westside


HIGHLIGHTS

  • 3+ Years | Corporate Lease Signature (Zips Car Wash, LLC) |1.50% Annual Rental Increases | Options to Extend
  • Absolute NNN Lease | Fee Simple Ownership (Land & Building) | Zero Landlord Responsibilities
  • Strong Demographics in Local Trade Area | Direct Consumer Base
  • Strategically Positioned | Between Interstate 75 & 640 | National Credit Tenant Synergy | Dense Retail Corridor

OVERVIEW

• 3+ years of remaining term with 1 (10-year) and 6 (5-year) options to extend • The lease features 1.50% annual rental increases throughout initial term and options thereafter (In 1st Option annual rent jumps to $210,000) • Recent Remodel (2025) - Building is below replacement cost • Was previously a Time to Shine car was location, before Zips bought them in 2017 • The combination of recent remodel, the long-term historical car wash use, and low rent are major contributors to the projected success at this location • Corporate lease signature from Zips Car Wash, LLC, a private company with more than 280 units under operation

FOR SALE DETAILS

PRICE

$2,370,000 USD

PRICE/SF

$789 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Zips Car Wash - Knoxville TN

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

General Commercial

APN/PARCEL ID

093FB-00904

ASK ABOUT THIS PROPERTY

Jaime SalazarSRS Real Estate PartnersMore Info
954-703-3602

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Jaime SalazarSRS Real Estate PartnersMore Info
954-703-3602

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.