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Views: 142 DOM: 100 Updated: 11.07.24 Posted: 09.21.24 Status: Active

Summary

Price $3,275,000
Built/Renov 2024
Tenant Sherwin-Williams
Cap Rate 6.15%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 4,000
Lease Start 04-05-2024
#Units 4,931
Price/SF $818.75
Expiration 04-30-2034
Tenant Type General Retail
NOI $201,425
R. Term 9.4
Ownership Fee Simple
Rent/SF $50.36
Increases 0.0%/0/yrs
Pop 5Mi 16,767
Lot/AC 0.72
Options 8/5yrs/9%
AHHI 5Mi $92,520

Lease Highlights

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

Location Description

Sherwin-Williams is strategically located at the hard corner intersection of N Croatan Hwy and 4th Street, with access to a combined daily traffic count of 32,000 vehicles. The property is situated in the heart of North Carolina's Outer Banks, a major tourist destination. It sits across from Target and next to Dare Centre, which features prominent national retailers such as Belk, Food Lion,...

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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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Listing Broker

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