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Dry Good

Sherwin Williams | Recent Lease Extension

106 E Alexis Rd, Toledo, OH 43612

Listing Price: $805,000

Cap Rate
7.22%
Tenant Name
Sherwin Williams
Years Remaining On Lease
2.0
Gross SF
5,000
Guarantor
Corporate Guarantee
Rentable SF
5,000
Price/Gross SF
$161.00
Lease Type
Double Net
Rent Per Square Feet
$11.62

Investment Overview

Marcus & Millichap is pleased to exclusively present for your review the Sherwin-Williams in Toledo, OH, a Top 100 Metro in the United States. The 5,000 SF store was an original build to suit for the tenant back in 1987, and they just extended their lease in December of 2020, which will extend their operating history at this site to over 35 years. The subject property is located in one of the primary retail corridors on the North Side of Toledo.

Investment Highlights

  • Tenant Has Been Operating at the Site Since 1987 | Tenant has (2) Additional 5-Year Options to Extend the Lease Featuring 10% and 18% Rental Increases at Each Option
  • In February 2021, City Council Approved Tax Increment Financing for Redevelopment Effort of 58 Acre Property Across the Street From the Subject Property to Incentivize Private Investment
  • Toledo Was Ranked #1 in the Nation Among Tier 2 Cities for New Small Business Investment (Site Selection Magazine)
  • Located in Dense Retail Corridor with Target, Lowe's, Home Depot, Meijer, Menards, Ollie's, All Within Minutes of the Subject Property
  • Property is Situated Minutes From the GM Transmission Operations Plant and the Fiat/Chrysler Assembly Plant (1,500 and 7,000 Employees Respectively)

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Dry Good

Sherwin Williams | Recent Lease Extension

Listing Price: $805,000

Cap Rate
7.22%
Tenant Name
Sherwin Williams
Years Remaining On Lease
2.0
Gross SF
5,000
Guarantor
Corporate Guarantee
Rentable SF
5,000
Price/Gross SF
$161.00
Lease Type
Double Net
Rent Per Square Feet
$11.62

Investment Highlights

  • Tenant Has Been Operating at the Site Since 1987 | Tenant has (2) Additional 5-Year Options to Extend the Lease Featuring 10% and 18% Rental Increases at Each Option
  • In February 2021, City Council Approved Tax Increment Financing for Redevelopment Effort of 58 Acre Property Across the Street From the Subject Property to Incentivize Private Investment
  • Toledo Was Ranked #1 in the Nation Among Tier 2 Cities for New Small Business Investment (Site Selection Magazine)
  • Located in Dense Retail Corridor with Target, Lowe's, Home Depot, Meijer, Menards, Ollie's, All Within Minutes of the Subject Property
  • Property is Situated Minutes From the GM Transmission Operations Plant and the Fiat/Chrysler Assembly Plant (1,500 and 7,000 Employees Respectively)

Investment Overview

Marcus & Millichap is pleased to exclusively present for your review the Sherwin-Williams in Toledo, OH, a Top 100 Metro in the United States. The 5,000 SF store was an original build to suit for the tenant back in 1987, and they just extended their lease in December of 2020, which will extend their operating history at this site to over 35 years. The subject property is located in one of the primary retail corridors on the North Side of Toledo.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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