Dry Good
Sherwin-Williams (New 10 Year Extension)
1532 Bridgewater Ln, Kingsport, TN 37660
Listing Price: $668,000
Cap Rate
5.45%
Tenant Name
Sherwin-Williams
Years Remaining On Lease
11.8
Gross SF
5,000
Guarantor
Corporate Guarantee
Rentable SF
5,000
Price/Gross SF
$133.60
Lease Type
Double Net
Rent Per Square Feet
$7.28
Investment Overview
NEAREST SHERWIN-WILLIAMS IS 15+ MILES AWAY OVER 66,500 RESIDENTS WITHIN FIVE MILES AVERAGE HOUSEHOLD INCOME OF $66,887 WITHIN FIVE MILES
Sherwin-Williams (New 10 Year Extension)
Investment Highlights
- 11+ YEARS REMAINING (NEW 10 YEAR EXTENSION)
- RECENT ROOF REPLACEMENT (2020) / PARKING LOT SEAL & STRIPE SCHEDULED IN 2023
- CORPORATE GUARANTEE - OVER 4,800 LOCATIONS
- OPERATED AT THIS LOCATION SINCE 1987 (35+ YEARS)
- TWO RENT INCREASES IN BASE TERM: 8% ON 1/1/2025 AND 4% ON 1/1/2030
- TWO FIVE-YEAR OPTIONS TO EXTEND WITH 8% RENT INCREASES
- DOUBLE-NET LEASE - LANDLORD RESPONSIBLE FOR ROOF & STRUCTURE
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $668,000
Cap Rate
5.45%
Tenant Name
Sherwin-Williams
Years Remaining On Lease
11.8
Gross SF
5,000
Guarantor
Corporate Guarantee
Rentable SF
5,000
Price/Gross SF
$133.60
Lease Type
Double Net
Rent Per Square Feet
$7.28
Investment Highlights
- 11+ YEARS REMAINING (NEW 10 YEAR EXTENSION)
- RECENT ROOF REPLACEMENT (2020) / PARKING LOT SEAL & STRIPE SCHEDULED IN 2023
- CORPORATE GUARANTEE - OVER 4,800 LOCATIONS
- OPERATED AT THIS LOCATION SINCE 1987 (35+ YEARS)
- TWO RENT INCREASES IN BASE TERM: 8% ON 1/1/2025 AND 4% ON 1/1/2030
- TWO FIVE-YEAR OPTIONS TO EXTEND WITH 8% RENT INCREASES
- DOUBLE-NET LEASE - LANDLORD RESPONSIBLE FOR ROOF & STRUCTURE
Investment Overview
NEAREST SHERWIN-WILLIAMS IS 15+ MILES AWAY OVER 66,500 RESIDENTS WITHIN FIVE MILES AVERAGE HOUSEHOLD INCOME OF $66,887 WITHIN FIVE MILES
Exclusively Listed By
Broker of Record
Financing By
