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Miscellaneous

Sherwin-Williams

2830 Holcomb Bridge Rd, Alpharetta, GA 30022

Listing Price: $1,527,000

Cap Rate
5.50%
Tenant Name
Sherwin-Williams
Years Remaining On Lease
8.1
Gross SF
4,800
Guarantor
Corporate Guarantee
Rentable SF
4,800
Price/Gross SF
$318.12
Lease Type
Double Net
Rent Per Square Feet
$17.50

Investment Overview

This investment offering features a freestanding Sherwin-Williams located in the Alpharetta/East Roswell submarket (Atlanta MSA). The property provides excellent visibility along Highway 140 (Holcomb Bridge Road) - which serves as a major four lane thoroughfare connecting GA-400 to the west and Highway 141 to the east. The property is well located among high end residential developments, country clubs, schools, recreation and national retailers in the immediate area. Within a 3-mile radius, household incomes are approximately $178k annually.
Sherwin-Williams signed a new 10 year lease in May of 2011 and in April 2021 agreed to extend the current term for an additional 10 years to the end of 2031 - after which there are three, 5 year renewal options with 10% rent increases for each option. Tenant sales at this store have been outstanding as reported by store management and approaching $6M. High residential growth in the immediate area favors higher year over year sales trajectory into the future.
The tenant is currently paying very low market rent at only $17.50/sf/year - providing an investor additional security with respect to the residual underlying real estate. Quoted rents for new and existing freestanding retail in the immediate area are in excess of $30/sf or more.

Investment Highlights

  • 10 Year Lease Extension Signed April 2021 | Entry Level Price Point - Very Low Rent at $7k Per Month
  • Highly Secure Investment | Sherwin-Williams Has One of the Highest Perpetual Renewal Rates in Industry
  • Placer.ai Location Ranks Subject Property in Top 1/3rd Nationally (3,525 Stores) and Locally (45 Stores)
  • Investment Grade Credit Tenant (NYSE:SHW), Rated BBB by S&P | Record Sales of $22.15 B in 2022
  • Seasoned Location - Tenant Has Occupied Site Since 2011 | Nationally Recognized Essential Business
  • Explosive Residential Growth | Estimated 28.3k Households with $178k Average Income in a 3 Mile Radius
  • Alpharetta/Roswell - Desirable North Atlanta MSA Submarket - Surrounded by Affluent Communities
  • Excellent Historical Sales at this Location Per Store Management

Exclusively Listed By

Financing By

Miscellaneous

Sherwin-Williams

Listing Price: $1,527,000

Cap Rate
5.50%
Tenant Name
Sherwin-Williams
Years Remaining On Lease
8.1
Gross SF
4,800
Guarantor
Corporate Guarantee
Rentable SF
4,800
Price/Gross SF
$318.12
Lease Type
Double Net
Rent Per Square Feet
$17.50

Investment Highlights

  • 10 Year Lease Extension Signed April 2021 | Entry Level Price Point - Very Low Rent at $7k Per Month
  • Highly Secure Investment | Sherwin-Williams Has One of the Highest Perpetual Renewal Rates in Industry
  • Placer.ai Location Ranks Subject Property in Top 1/3rd Nationally (3,525 Stores) and Locally (45 Stores)
  • Investment Grade Credit Tenant (NYSE:SHW), Rated BBB by S&P | Record Sales of $22.15 B in 2022
  • Seasoned Location - Tenant Has Occupied Site Since 2011 | Nationally Recognized Essential Business
  • Explosive Residential Growth | Estimated 28.3k Households with $178k Average Income in a 3 Mile Radius
  • Alpharetta/Roswell - Desirable North Atlanta MSA Submarket - Surrounded by Affluent Communities
  • Excellent Historical Sales at this Location Per Store Management

Investment Overview

This investment offering features a freestanding Sherwin-Williams located in the Alpharetta/East Roswell submarket (Atlanta MSA). The property provides excellent visibility along Highway 140 (Holcomb Bridge Road) - which serves as a major four lane thoroughfare connecting GA-400 to the west and Highway 141 to the east. The property is well located among high end residential developments, country clubs, schools, recreation and national retailers in the immediate area. Within a 3-mile radius, household incomes are approximately $178k annually. Sherwin-Williams signed a new 10 year lease in May of 2011 and in April 2021 agreed to extend the current term for an additional 10 years to the end of 2031 - after which there are three, 5 year renewal options with 10% rent increases for each option. Tenant sales at this store have been outstanding as reported by store management and approaching $6M. High residential growth in the immediate area favors higher year over year sales trajectory into the future. The tenant is currently paying very low market rent at only $17.50/sf/year - providing an investor additional security with respect to the residual underlying real estate. Quoted rents for new and existing freestanding retail in the immediate area are in excess of $30/sf or more.

Exclusively Listed By

Financing By

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