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Views: 73 Updated: 09.04.24 Posted: 11.29.23 Status: Inactive 09.06.24

Summary

Price $2,914,000
Built/Renov 2023
Tenant Sherwin-Williams
Cap Rate 5.60%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 5,000
Lease Start 06-01-2023
#Units 4,931
Price/SF $593.40
Expiration 05-31-2033
Tenant Type General Retail
NOI $163,200
R. Term 8.8
Ownership Fee Simple
Rent/SF $32.64
Increases 10.0%/5/yrs
Pop 5Mi 99,670
Lot/AC 0.82
Options 4/5yrs/10%
AHHI 5Mi $78,058

Lease Highlights

  • Sherwin Williams recently signed a brand-new 10-year lease with 4 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Corporate guaranteed lease
  • Investment grade tenant (S&P: BBB)

Location Description

Sherwin-Williams is strategically located on White Sage Arc, which is conveniently situated just off a US Highway 70 on-ramp and off-ramp. The property benefits from its proximity to a high volume of traffic, with approximately 54,850 VPD. The location of the property is particularly advantageous as it is positioned between the Metro Verde and Sonoma Ranch Golf Community, which are the two...

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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 : 7,357 48,799 101,645
2023 Total Population : 7,145 47,082 99,503
2023 Employed Civilian Pop : 3,346 20,895 42,113
2023 Total Businesses : 111 490 2,431
2023 Average Household Income : $ 101,823 $ 96,720 $ 78,017
2023 Total Consumer Spending : $ 265 M $ 1541 M $ 2732 M
2023 Median Age : 37 38 37
2023 Total Households : 3,027 18,415 40,189
2023 Pop Age 25+: Bachelor's Degree : 1,571 8,118 14,170
2023 Average Home Value : $ 276,451 $ 251,542 $ 232,162
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Emerald St 2022 20,095 0.10 mi
Emerald St 2022 20,095 0.14 mi
FL-1207-P Buena Vista Dr 2021 11,740 0.15 mi
Sonoma Ranch Blvd Ross St 2003 3,032 0.22 mi
FL-5598-P Ross St 2021 9,500 0.23 mi
Sonoma Ranch Boulevard Garnet St 2022 9,605 0.23 mi
Bataan Memorial East Emerald St 2022 1,942 0.24 mi
Bataan Memorial Highway la Bajada Dr 2022 46,597 0.27 mi
US 70 N Main St 2021 46,181 0.27 mi
Northrise Drive Buena Vista Dr 2022 5,476 0.28 mi

Listing Broker

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