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Miscellaneous

International Car Wash Group

1675 Union Ave, Memphis, TN 38104

Listing Price: $4,393,068

Cap Rate
6.25%
Tenant Name
International Car Wash Group
Gross SF
2,190
Guarantor
Corporate Guarantee
Rentable SF
2,190
Price/Gross SF
$2,005.97
Lease Type
Absolute Net
Rent Per Square Feet
$125.37

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 1675 Union Ave in Memphis, TN. The tenant will enter into a brand new, 20-year triple-net (NNN) lease upon close of escrow with absolutely no landlord responsibilities. The base annual rent will be $55,040 and will be subject to 1.50% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease will have a corporate guarantee. International Car Wash Group operates more than 900 locations throughout the United States and Internationally. The property is 2,190 rentable square feet and is situated on 0.68 acres.

Investment Highlights

  • A 20-Year Triple-Net Sale-Leaseback
  • Corporate Guarantee
  • Accelerated Depreciation

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Financing By

Miscellaneous

International Car Wash Group

Listing Price: $4,393,068

Cap Rate
6.25%
Tenant Name
International Car Wash Group
Gross SF
2,190
Guarantor
Corporate Guarantee
Rentable SF
2,190
Price/Gross SF
$2,005.97
Lease Type
Absolute Net
Rent Per Square Feet
$125.37

Investment Highlights

  • A 20-Year Triple-Net Sale-Leaseback
  • Corporate Guarantee
  • Accelerated Depreciation

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 1675 Union Ave in Memphis, TN. The tenant will enter into a brand new, 20-year triple-net (NNN) lease upon close of escrow with absolutely no landlord responsibilities. The base annual rent will be $55,040 and will be subject to 1.50% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease will have a corporate guarantee. International Car Wash Group operates more than 900 locations throughout the United States and Internationally. The property is 2,190 rentable square feet and is situated on 0.68 acres.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

Financing By

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