Miscellaneous
PPG Paints
3041 Professional Dr, Springfield, IL 62703
Listing Price: $1,333,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a single tenant net leased PPG Paints (the “Property”) located in Springfield, IL.
The Property is located on a dense retail corridor within a dense residential community. The tenant, PPG Paints just expanded into the entire building in 2024, and signed a new 5-year renewal at that time. They have been a tenant at the Property since 2002 and have renewed numerous times. They also added a new 5-year option in their latest renewal showcasing their intent to be at the Property long term.
PPG Paints is strategically situated with direct visibility on S 6th St/Business 55, the Property enjoys more than 26,000 Vehicles Per Day. The building has been well maintained with all new Roof and HVAC units in 2019 providing a low maintenance asset for the next owner.
PPG Paints is a national paint retailer with more than $1.9B in annual revenue. They have more than 750 company owned retail stores in addition to their products being found in home improvement and retail stores globally. They own numerous brands including Glidden, Olympic, Liquid Nails, and many others.
The Property is being offered free and clear of debt at a 7.5% cap rate for $1,333,000.
Listing Price: $1,333,000
Investment Highlights
- CORPORATE PPG PAINT STORE
- RECENT RENEWAL AND EXPANSION
- RECENTLY RENOVATED BUILDING
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a single tenant net leased PPG Paints (the “Property”) located in Springfield, IL. The Property is located on a dense retail corridor within a dense residential community. The tenant, PPG Paints just expanded into the entire building in 2024, and signed a new 5-year renewal at that time. They have been a tenant at the Property since 2002 and have renewed numerous times. They also added a new 5-year option in their latest renewal showcasing their intent to be at the Property long term. PPG Paints is strategically situated with direct visibility on S 6th St/Business 55, the Property enjoys more than 26,000 Vehicles Per Day. The building has been well maintained with all new Roof and HVAC units in 2019 providing a low maintenance asset for the next owner. PPG Paints is a national paint retailer with more than $1.9B in annual revenue. They have more than 750 company owned retail stores in addition to their products being found in home improvement and retail stores globally. They own numerous brands including Glidden, Olympic, Liquid Nails, and many others. The Property is being offered free and clear of debt at a 7.5% cap rate for $1,333,000.
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