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Views: 215 DOM: 126 Updated: 09.05.24 Posted: 07.18.24 Status: Active

Summary

Price $3,478,000
Built/Renov 2024
Tenant Sherwin-Wiliams
Cap Rate 5.85%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 5,925
Lease Start 09-01-2024
#Units 4,931
Price/SF $587.00
Expiration 08-31-2034
Tenant Type General Retail
NOI $203,474
R. Term 9.9
Ownership Fee Simple
Rent/SF $34.34
Increases 8.0%/10/yrs
Pop 5Mi 158,304
Lot/AC 1.51
Options 6/5yrs/8%
AHHI 5Mi $168,129

Lease Highlights

  • Brand-new 2024 construction
  • New 10-year lease with 6 (5-year) options to extend
  • The lease features 8% rental escalations at the start of each option period
  • Corporate guarantee | Investment grade tenant

Location Description

Sherwin-Williams is strategically located on Broadstone Way, with access to 27,128 vehicles passing by daily. The property is an outparcel to Walmart Supercenter and conveniently situated just off Highway 1, also known as Claude E. Pope Memorial Highway, with 72,650 VPD. Additionally, it is within walking distance of well-known national tenants including McDonald’s, Dunkin', Fidelity Bank,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sherwin-Williams
  • Guarantor:Corp T and Rated
  • Company:Sherwin-Williams Company
  • # Units:4,931
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: SHW

About Tenant

The Sherwin-Williams Company (NYSE: SHW) is an American Fortune 500 company in the general building materials industry. Founded by Henry Sherwin and Edward Williams in 1866, the company operates...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,402 54,317 170,867
2024 Total Population : 4,418 49,760 160,898
2024 Employed Civilian Pop : 2,269 28,709 89,970
2024 Total Businesses : 383 2,068 5,488
2024 Average Household Income : $ 116,741 $ 159,221 $ 173,097
2024 Total Consumer Spending : $ 193 M $ 2536 M $ 8599 M
2024 Median Age : 37 38 39
2024 Total Households : 1,888 18,477 58,056
2024 Pop Age 25+: Bachelor's Degree : 1,016 13,018 44,812
2024 Average Home Value : $ 518,114 $ 564,276 $ 599,129
*ESRI data is presented for informational purposes only

Listing Broker

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