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DOM: 99 Updated: 09.24.24 Posted: 07.10.24 Status: Sold 10.18.24

Summary

Price $3,458,000
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 $768.44
Expiration 10-01-2034
Tenant Type General Retail
NOI $185,000
R. Term 9.4
Ownership Fee Simple
Rent/SF $41.11
Increases 10.0%/5/yrs
Pop 5Mi 45,744
Lot/AC 0.93
Options 4/5yrs/10%
AHHI 5Mi $142,313

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 Avondale-Haslet Road, with access to 6,209 vehicles passing by daily. The property enjoys a convenient adjacency to a Walmart-anchored shopping center and offers easy access to US Highway 81/287, providing a direct route to Fort Worth. The immediate area features well-known national tenants including Public Storage, Sonic, Starbucks, Walmart, Taco...

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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
2029 Total Population : 9,645 62,540 118,644
2024 Total Population : 5,922 34,368 64,776
2024 Employed Civilian Pop : 2,942 18,396 35,051
2024 Total Businesses : 115 538 939
2024 Average Household Income : $ 177,170 $ 172,818 $ 163,549
2024 Total Consumer Spending : $ 284 M $ 1582 M $ 2877 M
2024 Median Age : 38 35 35
2024 Total Households : 1,895 10,704 20,468
2024 Pop Age 25+: Bachelor's Degree : 1,482 7,793 13,033
2024 Average Home Value : $ 511,116 $ 483,113 $ 453,689
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Avondale Haslet Rd Willow Creek Dr 2009 7,586 0.01 mi
US Hwy 81 Avondale Haslet Rd 2004 22,540 0.55 mi
Avondale Haslet Rd Willow Ranch 2009 7,380 0.58 mi
North Saginaw Boulevard Prairie Ridge Trl 2022 12,895 1.00 mi
Brett Jackson Rd Yale Trl 2004 90 1.19 mi
Yale Trl Hwy 81 Svc Rd 2004 80 1.20 mi
Alliance Ct 2021 3,488 1.25 mi
Alliance Ct 2022 3,311 1.25 mi
Hwy 287 Bus 2018 22,650 1.36 mi
Avondale Haslet Road Maxwell Blvd 2022 9,128 1.36 mi

Listing Broker

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