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Sherwin-Williams 475 Broadway Blvd 4,000 SF Retail Building Jefferson City, TN 37760 $2,864,407 ($716.10/SF) 5.90% Cap Rate
INVESTMENT HIGHLIGHTS
- New 10-Year Corporate Lease to Sherwin-Williams (S&P: BBB+; 5,000 Locations)
- New Construction - Only Location Serving Jefferson City - Next Location Over 10+ Miles Away
- Excellent Visibility on E. Broadway Blvd., Which has Over 26,000 Cars Per Day
- World's Dominant Paint Brand ($86 Billion Market Cap)
- Low Rent to Projected Sales Ratio
- Growing Retail Trade Area with Almost 1M SF of Retail Within 2 Miles with Less than 4% Vacancy
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in a new-construction, Sherwin-Williams located in Jefferson City (Knoxville MSA), Jefferson County, TN (the "Property"). US-based Sherwin-Williams (S&P: BBB+) is the world’s most valuable and dominant Paints brand with a market cap of approximately $86 Billion and revenues over $23 Billion.
Sherwin-Williams projects excellent sales at this location which will generate a very low rent to sales ratio of approximately 4% or less. Sherwin-Williams signed a ten (10) year net lease plus four 5-year options. Each option has an 8% rent increase. This location will have a 4,000 SF retail building that sits on 1.82 acres.
Sherwin-Williams chose this location due to its regional access. E. Broadway Blvd. is one of the main thoroughfares connecting Knoxville to Jefferson City to Morristown, TN. The site has excellent visibility to the over 26,000 cars per day on E. Broadway Blvd. Additionally, the location is just north of State Hwy 92, which connects with Interstate 40, approximately 15 minutes away.
Sherwin-Williams projects excellent sales at this location which will generate a very low rent to sales ratio of approximately 4% or less. Sherwin-Williams signed a ten (10) year net lease plus four 5-year options. Each option has an 8% rent increase. This location will have a 4,000 SF retail building that sits on 1.82 acres.
Sherwin-Williams chose this location due to its regional access. E. Broadway Blvd. is one of the main thoroughfares connecting Knoxville to Jefferson City to Morristown, TN. The site has excellent visibility to the over 26,000 cars per day on E. Broadway Blvd. Additionally, the location is just north of State Hwy 92, which connects with Interstate 40, approximately 15 minutes away.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,000 SF
Building Class
C
Year Built
2026
Construction Status
Under Construction
Price
$2,864,407
Price Per SF
$716.10
Cap Rate
5.90%
NOI
$169,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.82 AC
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Sherwin-Williams
- Retailer
- 4,000 SF
- $42.25
- Double Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Sherwin-Williams | Retailer | 4,000 SF | $42.25 | Double Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 024-008.01 | Improvements Assessment | $0 |
| Land Assessment | $267,040 | Total Assessment | $267,040 |
PROPERTY TAXES
Parcel Number
024-008.01
Land Assessment
$267,040
Improvements Assessment
$0
Total Assessment
$267,040
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Sherwin-Williams | 475 Broadway Blvd
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