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Sherwin-Williams 14640 Northwest Fwy 5,220 SF Retail Building Houston, TX 77040 $2,487,000 ($476.44/SF) 5.75% Cap Rate
Investment Highlights
- Corporate Guaranteed NN Lease | Options To Extend |Scheduled Increases
- Major Houston Retail Thoroughfare | National/Credit Tenants
- U.S. Highway 290 (220,700 VPD) | Excellent Visibility & Access Signalized, Hard Corner Intersection
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a free standing, investment grade
(S&P: BBB) Sherwin Williams property located in Houston, Texas. The tenant, Sherwin Williams Co. has nearly 10 years remaining on an original 18.5 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is a NN, limiting the landlord responsibilities to the roof and structure of the property.
(S&P: BBB) Sherwin Williams property located in Houston, Texas. The tenant, Sherwin Williams Co. has nearly 10 years remaining on an original 18.5 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is a NN, limiting the landlord responsibilities to the roof and structure of the property.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,220 SF
Building Class
C
Year Built
2014
Price
$2,487,000
Price Per SF
$476.44
Cap Rate
5.75%
NOI
$143,022
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.70 AC
Zoning
Commercial
Parking
26 Spaces (4.98 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Signage
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 1178100010007 | Improvements Assessment | $896,549 |
| Land Assessment | $456,075 | Total Assessment | $1,352,624 |
Property Taxes
Parcel Number
1178100010007
Land Assessment
$456,075
Improvements Assessment
$896,549
Total Assessment
$1,352,624
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Sherwin-Williams | 14640 Northwest Fwy
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