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Sherwin Williams 18206 Manhattan Pky 5,351 SF Retail Building Cornelius, NC 28031 $1,653,600 ($309.03/SF) 6% Cap Rate
Investment Highlights
- Affluent Charlotte Submarket – Positioned in the Lake Norman corridor near Birkdale Village, with ~$140,000 average household incomes and a heavy conc
- Irreplaceably Low Rent – Rent sits ~75% below new-build levels and well below replacement cost. In a $20–$25/SF Cornelius leasing market with limited
- Global Category Leader – Sherwin-Williams is the world’s largest coatings company with record $23.1B in 2024 net sales and a chain of 5,000+ company-o
- Proven Commitment – Sherwin Williams has operated at this location already for 17 years and most recently renewed an option, leaving just under 5 year
- Blue-Chip, Investment-Grade Credit – Sherwin-Williams carries investment-grade ratings (S&P BBB, Moody’s Baa2, Fitch BBB+), providing institutional-qu
- Top Ranked MSA – Charlotte ranks #3 Best Real Estate Market among large U.S. cities (WalletHub), with retail vacancy below 2.8% and some of the fastes
Executive Summary
Kyle Matthews
License # C38369 (NC)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Manufacturing
- -
- -
- Triple Net
- Jun 2025
Sherwin-Williams is a global leader in the development, manufacture, and distribution of paints, coatings, and related products for professional, industrial, commercial, and retail customers. Established in 1866, the company operates through a network of company-owned stores, independent dealers, and mass merchandisers, offering architectural paints, industrial coatings, and specialty finishes. Its portfolio includes well-known brands such as Dutch Boy, Krylon, Minwax, and Thompson’s WaterSeal. Sherwin-Williams also provides automotive finishes and protective coatings for industrial applications.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Manufacturing | - | - | Triple Net | Jun 2025 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 005-121-81 | Improvements Assessment | $1,170,100 |
| Land Assessment | $356,900 | Total Assessment | $1,527,000 |
Property Taxes
Presented by
Sherwin Williams | 18206 Manhattan Pky
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