Sherwin-Williams | New 10-Yr Lease Extension | 1316 Silver Heights Blvd
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Sherwin-Williams | New 10-Yr Lease Extension 1316 Silver Heights Blvd
2,720 SF Retail Building Silver City, NM 88061 $643,000 ($236/SF) 7% Cap Rate
Investment Highlights
- New 10-Year Lease Extension | Corporate Guaranteed | Scheduled Increases | Recent Tenant Improvements
- Nearby National/Credit Tenants | Direct Consumer Base | Signalized, Hard Corner Intersection (28,400 VPD)
- NN | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN, corporate guaranteed (NYSE: SHW), investment grade (S&P: BBB), investment property located in Silver City, New Mexico. The tenant, Sherwin Williams Co., has occupied the site for 20 years and recently signed a brand new 10 year lease extension, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the extension term, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The seller made a substantial investment into a new roof, HVAC, drainage, and insulation to be installed by January 2025. Founded in 1866, Sherwin Williams is a global leader in the manufacture, development, distribution, and sale of paint and paint related products sold exclusively through a chain of more than 5,000 Company-operated stores and branches.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,720 SF
Building Class
C
Year Built
1950
Price
$643,000
Price Per SF
$236
Cap Rate
7%
NOI
$45,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.48
Lot Size
0.13 AC
Opportunity Zone
Yes
Zoning
Commercial
Walk Score ®
Very Walkable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 3081102160526 | Improvements Assessment | $56,565 |
| Land Assessment | $15,101 | Total Assessment | $71,666 |
PROPERTY TAXES
Parcel Number
3081102160526
Land Assessment
$15,101
Improvements Assessment
$56,565
Total Assessment
$71,666
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Sherwin-Williams | New 10-Yr Lease Extension | 1316 Silver Heights Blvd
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