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1675 Union Ave
Memphis, TN 38104
International Car Wash Group · Specialty Property For Sale · 4,308 SF

Investment Highlights

  • 20-Year Triple-Net (NNN) Sale-Leaseback: At Closing the Tenant Will Execute a Brand New 20-Year Absolute Triple-Net Lease. The Lease Will Have No La
  • Accelerated Depreciation: This Property Qualifies for 15 Year Accelerated Depreciation
  • Heavily Trafficked Area | Union Ave and Madison Ave | Average Daily Traffic Counts Exceeding 35,000 and 12,000 Vehicles, Respectively
  • Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by International Car Wash Group Ltd. (UK) “ICWG” and the More Than 900 Locations
  • Dense Retail Corridor| The Home Depot, Cash Saver, The Fresh Market, CVS Pharmacy, Walgreens, Kroger, Starbucks, Chick-fil-A, KFC, Pizza Hut, Panera
  • Robust Demographics| Population Exceeds 221,793 Individuals Within a 5-Mile Radius

Property Facts

Property Type Specialty
Property Subtype Car Wash
Building Class B
Lot Size 0.68 AC
Building Size 4,308 SF
No. Stories 1
Year Built 2003
Parking Ratio 2.08/1,000 SF
Zoning CH

About 1675 UNION AVE , MEMPHIS, TN 38104

The subject Car Wash benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, hospitality accommodations, and academic institutions. Major national tenants in the surrounding area include: The Home Depot, Cash Saver, The Fresh Market, CVS Pharmacy, Walgreens, Kroger, Starbucks, Chick-fil-A, KFC, Pizza Hut, Panera Bread, Smoothie King, Chipotle Mexican Grill, IHOP, Burger King, Five Guys, McDonald’s, as well as many more. The subject car wash is located one-mile from Methodist University Hospital, the largest hospital in the Methodist Healthcare system with over 617-beds. This International Car Wash Group property benefits from being located within a five-mile radius of several academic institutions. Most notable of these being University of Memphis, a public research university with enrollment exceeding 22,000 students. Memphis International Airport is located just over six-miles from the subject property. Memphis International Airport is the world’s second busiest cargo airport. The site is situated on the hard corner of Union Ave and S Belvedere Blvd. Union Ave boasts average daily traffic counts exceeding 35,988 vehicles per day. Running parallel to Union Ave is Madison Ave which brings an additional 12,295 vehicles into the immediate area daily. There are more than 116,008 individuals residing within a three-mile radius of the subject property and 221,793 individuals within a five-mile radius. Memphis is a city located in Shelby County, Tennessee. Memphis is the largest city on the Mississippi River, the second most populous city in Tennessee, and the 25th largest city In the United States. Greater Memphis is the 42nd largest metropolitan area in the United States. Memphis is the anchor of West Tennessee and the greater Mid-South region. The city’s central geographic location has been strategic to its business development. Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, Memphis is ideally located for commerce in the transportation and shipping industry. Memphis is also the home of founders and pioneers of various American music genres, including Memphis soul, blues, gospel, rock n’ roll, rap, and country music. Beale Street is a national historical landmark and shows the impact Memphis has had on American blues. This is a site that many visitors and natives come to Memphis to explore, as there are many restaurants, shops, museums and other landmarks located along the legendary street.

Property Taxes

Property Taxes

Parcel Number
01-6038-0-0013
Land Assessment
$239,040
Improvements Assessment
$310,920
Total Assessment
$549,960
  • Listing ID: 18803238

  • Date on Market: 3/9/2020

  • Last Updated:

  • Address: 1675 Union Ave, Memphis, TN 38104

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