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Views: 166 DOM: 393 Updated: 08.07.24 Posted: 10.27.23 Status: Active

Summary

Price $990,000
Built/Renov 1960
Tenant Sherwin-Williams
Cap Rate 4.85%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,800
Lease Start 05-01-2022
#Units 4,931
Price/SF $126.92
Expiration 04-30-2032
Tenant Type General Retail
NOI $48,000
R. Term 7.5
Ownership Fee Simple
Rent/SF $6.15
Increases 12.5%/9/yrs
Pop 5Mi 83,756
Lot/AC 0.37
Options 2/5yrs/12.5%
AHHI 5Mi $65,785

Lease Highlights

  • Sherwin Williams has been operating in this location for 62 years
  • Tenant has 8+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 12.5% increase at the start of option 1 and a 11.1% increase at the start of option 2
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by Sherwin-Williams Company (NYSE: SHW)

Location Description

Sherman Williams is strategically situated on busy thoroughfares, featuring frontage on Fort Ave with 14,520 vehicles per day and 12th St with 9,670 vehicles. Furthermore, it is positioned within one mile of the US 29 interchange, which averages 41,570 vehicles. The 5-mile trade area is supported by a population of over 83,756 residents, earning an average annual household income of $65,785....

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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
2028 Total Population : 8,852 42,745 81,036
2023 Total Population : 8,796 42,810 80,480
2023 Employed Civilian Pop : 3,806 19,530 36,795
2023 Total Businesses : 452 1,986 3,203
2023 Average Household Income : $ 61,151 $ 72,536 $ 81,064
2023 Total Consumer Spending : $ 195 M $ 1140 M $ 2199 M
2023 Median Age : 38 36 34
2023 Total Households : 3,614 17,850 30,975
2023 Pop Age 25+: Bachelor's Degree : 642 5,532 11,219
2023 Average Home Value : $ 186,648 $ 217,213 $ 241,699
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fort Ave Marsh St 2016 7,900 0.04 mi
12th Street Tilden Ave 2020 6,400 0.05 mi
Fort Avenue Campbell Ave 2020 5,800 0.05 mi
12th Street Tilden Ave 2018 9,600 0.06 mi
Campbell Ave 12th St 2016 8,900 0.09 mi
Langhorne Road Miller PkSq 2021 8,100 0.10 mi
US 501 Business Miller Park Sq 2020 7,700 0.10 mi
Langhorne Road Miller PkSq 2018 8,800 0.12 mi
12th Street Kemper Ave 2021 8,800 0.20 mi
Park Ave Craddock St 2016 5,500 0.21 mi

Listing Broker

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