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Views: 94 DOM: 133 Updated: 11.07.24 Posted: 07.10.24 Status: Contract 08.08.24

Summary

Price $3,514,000
Built/Renov 2024
Tenant Sherwin-Williams
Cap Rate 5.35%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,500
Lease Start 10-01-2024
#Units 4,931
Price/SF $780.89
Expiration 10-01-2034
Tenant Type General Retail
NOI $188,012
R. Term 9.10
Ownership Fee Simple
Rent/SF $41.78
Increases 10.0%/5/yrs
Pop 5Mi 37,924
Lot/AC 0.85
Options 4/5yrs/10%
AHHI 5Mi $147,236

Lease Highlights

  • Brand-new 2024 construction
  • New 10-year lease with 4 (5-year) options to extend
  • The lease features 10% 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 State Highway 29, with access to 32,900 vehicles passing by daily. The property is conveniently adjacent to the Liberty Parke and Stonewall Ranch housing communities. The immediate area features well-known national tenants including AutoZone, Circle K, Taco Bell, McDonald's, Caliber Collision, and more. The 5-mile trade area is supported by a...

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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 : 4,789 33,284 79,171
2024 Total Population : 3,168 23,413 58,628
2024 Employed Civilian Pop : 1,499 11,253 28,849
2024 Total Businesses : 87 472 783
2024 Average Household Income : $ 133,467 $ 145,464 $ 151,871
2024 Total Consumer Spending : $ 134 M $ 960 M $ 2553 M
2024 Median Age : 34 35 36
2024 Total Households : 1,168 7,642 19,486
2024 Pop Age 25+: Bachelor's Degree : 623 4,896 12,493
2024 Average Home Value : $ 596,614 $ 565,157 $ 595,657
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Co Rd 213 Hwy 29 2011 401 0.37 mi
Bar P Ranch Rd Liberty Meadows Dr 2005 10 0.47 mi
TX 29 Hwy 183 2022 32,927 0.82 mi
US Hwy 183 Co Rd 258 2002 8,200 0.82 mi
US Hwy 183 Horseshoe Loop 2019 18,829 0.82 mi
Horseshoe Loop 2022 18,324 0.83 mi
US Hwy 183 Horseshoe Loop 2018 16,877 0.83 mi
TX 360 2020 16,867 0.83 mi
Co Rd 258 Hwy 183 2010 570 0.84 mi
County Road 258 2015 399 0.84 mi

Listing Broker

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