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Views: 49 DOM: 59 Updated: 08.21.24 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 10.0
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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Listing Broker

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