Listed by Marcus & Millichap - Phoenix
$2,863,000
Sherwin-Williams | Corp. Lease w/ 10% Increases
Details
Property Type Retail
Sub Type Storefront
Square Footage 5,500
Cap Rate 5.7%
NOI $163,200
Occupancy 100%
Tenancy Single
Brand/Tenant Sherwin-Williams
Lease Type NN
Lease Term 10
Lease Expiration 05/30/2033
Remaining Term 7
Rent Bumps Yes
Lease Options 4, 5 Year Options
Year Built 2023
Acreage 0.820
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/31/2023
Ground Lease No
Part of New Master Planned Community | 5,500 SF
Marketing description
A Fortune 500 company in the general building materials industry, Sherwin-Williams is a global leader in the manufacture, development, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America and Europe.
Las Cruces is the second-most populous city in New Mexico and serves as the county seat of Doña Ana County. The city is home to an estimated 111,385 residents. Las Cruces is a thriving city surrounded by picturesque desert and conveniently located less than an hour from El Paso International Airport.
Investment highlights
- 7 Years Remaining on Lease with Corporate Sherwin-Williams (NASDAQ: SHW) Guaranty and 10-Year Roof Warranty
- 10% Rental Increases Every 5 Years with Multiple Renewal Options
- Sherwin-Williams 2025 Revenue was Over $23.57 Billion & 2025 EBITDA Increased by 5.7% to $4.48 Billion
- New 2023 Construction with Sherwin-Williams’ Newest Prototype
- 100,118 Residents in a 5-Mile Radius, Projected to Increase 4-6% by 2030
- Immediate Proximity to Metro Verde Master-Planned Community and Sonoma Ranch Master-Planned Community - Both Communities Represent 65% of New Home Construction in Las Cruces
- Adjacent to a Walmart-Anchored Shopping Center - Neighboring Tenants Include Dollar Tree, Panda Express, Dutch Bros Coffee, and Walgreens
- Easily Accessible by 54,850+ Cars per Day Along Highway 70
Listing Contacts
Listed by Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$163,200.00
$13,600.00/mo
Valuation Metrics
0
DSCR
5.7%
Cap Rate
5.7%
ROI
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