Listed by Matthews
$1,795,000
Sherwin Williams - Marathon, FL
Details
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 4,500
Net Rentable (SqFt) 4,500
Cap Rate 6%
NOI $107,700
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Walgreens
Lease Type NN
Lease Expiration 03/30/2030
Remaining Term 4
Rent Bumps Yes
Lease Options 2, 5-Year Options
Pro-Forma Cap Rate 6.28%
Pro-Forma NOI $112,800
Price per SqFt $399
Class A
Year Built 1979
Year Renovated 2000
Acreage 0.170
Investment Type Net Lease
Ground Lease No
99th Percentile Store - Only Sherwin Williams in 40 Mile radius
Marketing description
- High Barrier to Entry Market: Monroe County’s Rate of Growth Ordinance (ROGO) heavily restricts new, permanent construction, limiting supply and positions Sherwin Williams to be operating at this store far beyond the remaining term.
- 99th Percentile Rank: Per AlphaMap Brand Ranking, this store ranks #56/4,381 across the country and #14/349 across the state of Florida.
- Maximum Exposure: Located directly off Overseas Highway, the main road stretching 113 miles through the entirety of the Florida Keys, the property has visibility to over ±24,000 vehicles daily.
- Scheduled Exterior Repairs: The tenant recently notified the landlord of corporately approved upgrades to the exterior taking place at the end of Q1 – beginning of Q2 2026.
- Limited Tenant Footprint: The next closest Sherwin Williams locations are over 40-miles in Key Largo and Key West.
- Passive Leave Structure: The lease features minimal obligation with the landlord only being responsible for the roof, structure and foundation.
- Long Term Operation: Sherwin Williams has been operating at this store for over 21 years, further demonstrating the key role this location plays for the local economy.
- Investment Grade Credit Tenant: Sherwin Williams (NYSE: SHW) includes a BBB+ credit rating from S&P and reported fourth-quarter earnings on January 29, 2026, including a 2.1% YOY increase in net sales to $23.57 billion.
- Fortune 200 Company: Sherwin Williams Ranks #191 on the fortune 500 list operating over 4,700+ across all 50 states.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$107,700.00
$8,975.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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