Car Wash / Auto Garage for Sale on BUSY Union Ave!

Retail-Commercial for Sale
Catylist Listing ID: 29980959
Property Subtypes: Car Wash, Free-Standing Building, Vehicle Related, Other
Building Size (RSF): 2,439 SF
Gross Land Area: 0.24 Acres
Sale Price: $540,000
Unit Price: $221.40 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 2,439 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 4/30/2018

Overview / Comments

Currently occupied with Tenant paying $3,500 monthly. (Lease expires October 2020)
Property also comes with income producing billboard and long-term lease from Clear Channel!

Attachments & Media

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Current Tenants

Tenant Business Name Relax & Shine Car Wash
Is Renting? Yes
Year Founded 2017
Current Rent $3,500 PSF (Annual)

Additional Details

Nearest MSA: Memphis
County: Shelby
Taxing Authority: Shelby County
Tax ID/APN: 017013 00013
Zoning: CMU-3
Retail Clientele: General
Property Located Between: Union @ Cleveland
Property Visibility: Excellent
Largest Nearby Street: Cleveland
Feet of Frontage: 70
Traffic/Vehicle Count: 33,063
Airports: MIA
Site Description: Located in Midtown Memphis on HIGHLY trafficked Union Avenue, this location is convenient to everything!
Area Description: Midtown Memphis < 1 mile from Crosstown Concourse in the Memphis Medical District.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,439 SF
Property Condition: Good
Year Built: 1979
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Parking lot repaved in 2017!
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Two story building. Downstairs has garage work area, reception with glass sliding window, waiting, and restrooms. Upstairs offers additional waiting / storage.
Zoning Description: The CMU-3 District is intended to accommodate a very board range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper story units are encouraged. Typical uses in this district serve regional needs. The permitted uses are generally uses not of a neighborhood or general connmercial type, but serve large areas of the City and County.
Lot Frontage: 75 ft
Lot Depth: 139 ft
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Neighborhood Number: 00708C73 Acres: 0.2390 Lot Dimensions: 74.88/75.40 X 138.75/138.51 Subdivision Name: MADISON HEIGHTS RE OF LOTS 8&9 Subdivision Lot Number: 8 Plat Book and Page: 73-61

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,835 129,108 225,561
Median Age: 39.52 36.21 35.15
Households: 10,347 54,784 92,822

Contact

Photograph of Listing Agent

Jeff Waddell

Crye-Leike
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