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3560 Elm Ave
Portsmouth, VA 23704
Sherwin Williams Distribution Center · Industrial Property For Sale
PROPERTY FACTS
| Property Type | Industrial | Rentable Building Area | 28,271 SF |
| Property Subtype | No. Stories | 1 | |
| Building Class | B | Year Built | 1975 |
| Lot Size | 3.05 AC | Tenancy | Single |
| Zoning | M-2 | ||
| Property Type | Industrial |
| Property Subtype | |
| Building Class | B |
| Lot Size | 3.05 AC |
| Rentable Building Area | 28,271 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Tenancy | Single |
| Zoning | M-2 |
ABOUT 3560 ELM AVE , PORTSMOUTH, VA 23704
The Kase Group is pleased to present the opportunity to acquire a corporately guaranteed, Sherwin Williams in Portsmouth, Virginia. The subject Sherwin Williams has a net lease with one, 5-year option period. The lease features 10% rental increases every 5 years throughout the primary lease term and option which generates steady NOI growth and hedges against inflation. The lease is NN lease with landlord responsible for roof and structure. Sherwin Williams is situated is a major retail trade area. The subject property is strategically positioned to capture and serve the traffic generated from Town and Country Shopping Center. Area retailers include: Family Dollar, 7-Eleven, Burger King, Popeyes and many more. Sherwin has Occupied this location since 2002 with rental increases every 5 years. Sherwin executed an early 10 year lease extension with One, 5 year option.
PROPERTY TAXES
| Parcel Number | 0386-0027 | Improvements Assessment | $1,190,160 |
| Land Assessment | $537,670 | Total Assessment | $1,727,830 |
PROPERTY TAXES
