Listed by Northmarq Capital, LLC, Northmarq
$3,886,200
Sherwin-Williams
Details
Property Type Retail
Sub Type Storefront, Home improvement
Square Footage 10,000
Cap Rate 6.15%
NOI $239,000
Occupancy 100%
Tenancy Single
Brand/Tenant Sherwin-Williams
Lease Type NN
Lease Term 10
Lease Expiration 06/30/2036
Remaining Term 10
Rent Bumps Yes
Lease Options Six (6) Five (5) Year Options
Acreage 2.050
Parking Spaces 26 spaces
Parking per 1,000 SqFt 2.60
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 07/01/2026
Ground Lease No
New 10-Year Sherwin-Williams | Investment Grade Credit (BBB) | Tax-Free State
Marketing description
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in a new-construction, Sherwin-Williams located in Gray, Washington County, TN (the "Property"). U.S.-based Sherwin-Williams (S&P: BBB) is the world’s most valuable and dominant paint brand with a market cap of approximately $83 billion and revenues over $23 billion.
The Property is located just north of downtown Gray, TN. Within 2 miles, there is just over 1.4M SF of retail, office and industrial space with less than 1% vacancy. Notable retail tenants nearby include Food City, Ace Hardware, Starbucks, Dollar Tree, Ashley, McDonald’s, and many others.
Investment highlights
- New 10-year corporate lease to Sherwin-Williams
- Investment grade credit (S&P: BBB; 5,000 locations)
- World’s dominant paint brand ($83 billion market cap)
- New construction - larger commercial prototype
- Only location serving Gray - next location over 10+ mi away
- Low rent-to-projected-sales ratio
- Excellent Visibility On Bobby Hicks Hwy, which has 18,892 cars per day and less than 2 miles from Interstate 26, with 54,753 cars per day
- Over 1.4M SF of retail, office and industrial within 2 mi with less than 1% vacancy
- 167,086 people within 10 mi trade area/average HHI of $96,227
- Gray, TN is part of the Tri-Cities region located 15 mi south of Kingsport and 12 mi north of Johnson City
Listing Contacts
Listed by Northmarq Capital, LLC, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$239,000.00
$19,916.67/mo
Valuation Metrics
0
DSCR
6.15%
Cap Rate
6.15%
ROI
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