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Views: 61 DOM: 98 Updated: 09.05.24 Posted: 08.17.24 Status: Active

Summary

Price $1,015,000
Built/Renov 1970
Tenant Sherwin-Williams
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 5,610
Lease Start 02-01-2023
#Units 4,931
Price/SF $180.93
Expiration 01-31-2033
Tenant Type General Retail
NOI $66,000
R. Term 8.2
Ownership Fee Simple
Rent/SF $11.76
Increases 7.7%/5/yrs
Pop 5Mi 225,977
Lot/AC 0.48
Options 2/5yrs/7.7%
AHHI 5Mi $73,569

Lease Highlights

  • Sherwin-Williams has been operating in this location since 1986
  • The tenant has 8+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 7.7% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Sherwin-Williams is strategically located on S Broadway, with access to 12,600 vehicles passing by daily. The property is situated less than 0.25 miles from I-55, which sees 127,400 vehicles per day. Additionally, it is adjacent to the Union Pacific Lesperance Yard, one of the busiest rail yards in the region. The 5-mile trade area supports a population of 225,977 residents with an average...

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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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Broadway PkAve 2022 5,778 0.04 mi
Lafayette Ave S Broadway 2002 3,256 0.06 mi
S Broadway 2022 5,499 0.07 mi
S Broadway Lafayette Ave 2013 10,669 0.07 mi
S Broadway 2022 4,466 0.18 mi
South 7th Street PkAve 2022 8,144 0.21 mi
South 7th Street PkAve 2018 8,370 0.22 mi
S Broadway 2022 2,680 0.23 mi
I- 55 2022 4,500 0.24 mi
Park Ave 2022 4,905 0.24 mi

Listing Broker

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