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Take 5 Car Wash

Memphis, Tennessee

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About the Investment:

✓ 20-Year Triple-Net (NNN) Lease with +/- 15.1 Years Remaining | No Landlord Responsibilities
✓ Income Tax Free Jurisdiction | TN is an Income Tax Free State
✓ High Performing Location | Inquire With Listing Agent
✓ Robust Affluent Demographic Profile | More Than 209,000 Residents Within a Five-Mile Radius | Household Income of Roughly $85,100 within a Three-Mile Radius
✓ Corporate Guaranty | Driven Brands Inc (4,600+ Locations)
✓ Potential Tax Benefits | Qualifies for 80% Bonus Depreciation & 15 Year Straight Line Method (please consult your CPA)
✓ Attractive Rental Increases | 1.75% Annual Rental Increases Through Initial Term and the Four (4), Five (5)-year Tenant Renewal Options

Key Details

Price:
$3,115,293
Cap Rate:
6.35%
Annual Rent:
$197,821
Address:
4349 Summer Avenue, Memphis, Tennessee 38122
Property Type:
Net- Leased Car Wash
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
September 13th, 2018
Lease Expiration:
September 30th, 2038
Lease Term Remaining:
+/- 15.1
Rental Increases:
1.75% Annually
Lot Size:
+/- 0.61 Acres
Building Size:
3,750 SF
Year Built:
2009
Tenant:
Take 5 Car Wash

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Richard Nardi

License: 10401294015

Broker of record

Brian Brockman

Bang Realty-Tennessee, Inc

License: 343847


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