8921 Immokalee Rd
Naples, FL 34120
Sherwin Williams & Verizon · Retail Property For Sale

Capital Pacific is pleased to present the opportunity to acquire Verizon & Sherwin Williams, a two-tenant NNN investment in the affluent market of Naples, Florida. The property is newly constructed and leased to two Fortune 500 corporate tenants – Verizon Wireless ($126 Billion in revenue) and Sherwin Williams ($15 Billion in revenue). Verizon has 4.5 years left on its lease and Sherwin Williams has 9.5 years left with a rent bump in year 6. Both tenants feature options to renew at increased rents. Additionally, the tenants reimburse for their expenses, with Landlord responsibility limited to roof and structure (the property was built in 2018 which mitigates near-term Landlord responsibility). The property is on a hard corner with excellent frontage and visibility. It fronts a main road, and is surrounded by additional retail that creates a strong draw to this immediate area. The asset is located within the desirable city of Naples, an affluent coastal market in the tax-free state of Florida. The trade area includes a dense amount of housing and commercial development. Retailers in the immediate vicinity include: Publix Super Market, CVS, Starbucks, and Walgreens. Additionally, there are new development projects underway within the immediate area which will add hundreds of residential units and millions of commercial square footage to this high-growth area. Within 3 miles of the property, the average household income is over $114,000.