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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
Broker of Record
Kyle Matthews
License # C38369 (NC)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500 Nashville, TN 37203
(866) 889-0550
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
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,351 SF
Building Class
B
Year Built
2008
Price
$1,653,600
Price Per SF
$309.03
Cap Rate
6%
NOI
$99,216
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
0.48 AC
Zoning
VC - Commercial
Parking
10 Spaces (1.87 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Manufacturing
- -
- -
- Triple Net
- Jun 2025
Founded in 1866 by Henry Sherwin and Edward Williams in Cleveland, Sherwin-Williams grew from a paint business into a global company focused on paints, coatings, stains, and related products. The company serves professional, industrial, commercial, and consumer customers through manufacturing, distribution, and retail channels. Its portfolio includes architectural paints, protective and marine coatings, automotive finishes, and wood finishing products. Sherwin-Williams markets products under brands such as Valspar, Krylon, Minwax, Cabot, Dutch Boy, and HGTV HOME by Sherwin-Williams, reflecting a broad presence across multiple coatings and home-improvement verticals.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Manufacturing | - | - | Triple Net | Jun 2025 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
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
Parcel Number
005-121-81
Land Assessment
$356,900
Improvements Assessment
$1,170,100
Total Assessment
$1,527,000
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