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DOM: 12 Updated: 12.19.23 Posted: 10.25.23 Status: Sold 11.06.23

Summary

Price $710,000 $784,000
Built/Renov 1986/2013
Tenant Sherwin-Williams
Cap Rate 6.63% 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 5,000
Lease Start 09-11-1986
#Units 4,859
Price/SF $142.00 $156.80
Expiration 07-31-2029
Tenant Type General Retail
NOI $47,040
R. Term 4.2
Ownership Fee Simple
Rent/SF $9.41
Increases 10.0%/5/yrs
Pop 5Mi 67,205
Lot/AC 0.57
Options 2/5yrs/10%
AHHI 5Mi $63,230

Lease Highlights

  • Sherwin-Williams has occupied the site for over 37 years
  • The tenant recently executed an early 5-year lease extension | Lease supports 2 (5-year) options with 10% rent increases in each option
  • New roof installed in 2021
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Corporate guaranteed lease (NASDAQ: SHW) | (S&P: BBB)

Location Description

Sherwin Williams provides excellent visibility with frontage and signage along OH-51/Woodville Rd, which has a daily traffic count of 21,600 vehicles. This location is conveniently situated adjacent to Family Farm & Home and is surrounded by various national retailers, including Burger King, Circle K, Enterprise Rent-A-Car, Marco's Pizza, and many others. Notably, there is ongoing development...

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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:4,859
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock:NYSE: SHW

About Tenant

The Sherwin-Williams Company is an American Fortune 500 company in the general building materials industry. Founded by Henry Sherwin and Edward Williams in 1866, the company operates through four...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,860 19,886 64,399
2023 Total Population : 2,847 19,880 64,789
2023 Employed Civilian Pop : 1,531 9,978 29,672
2023 Total Businesses : 79 770 1,769
2023 Average Household Income : $ 112,488 $ 86,997 $ 72,805
2023 Total Consumer Spending : $ 106 M $ 656 M $ 1726 M
2023 Median Age : 44 46 39
2023 Total Households : 1,104 8,692 27,132
2023 Pop Age 25+: Bachelor's Degree : 296 2,316 5,492
2023 Average Home Value : $ 261,138 $ 199,591 $ 168,888
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Woodville Rd Williston Rd 2003 13,120 0.05 mi
Woodville Road 1036 2021 16,578 0.30 mi
Woodville Road Owen Rd 2021 11,173 0.37 mi
Williston Road 917 2021 5,212 0.46 mi
15 Marie St 2017 1,071 0.49 mi
Woodville Rd 1174 2003 25,100 0.53 mi
PEMBERVILLE RD Marie St 2020 992 0.53 mi
Lemoyne Road 333 2021 770 0.68 mi
15 502 2005 1,300 0.74 mi
Pemberville Road 502 2021 976 0.77 mi

Listing Broker

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