Monument, CO - Sherwin Williams

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Sherwin Williams investment property located in Monument, Colorado. The tenant, Sherwin Williams has 9+ years remaining on their 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features variable rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with the landlord being responsible for Roof, Structure, and Parking Lot (excluding snow & ice), making it an ideal, low management investment opportunity for a passive investor.

The Sherwin Williams is located near the signalized, hard corner intersection of West Baptist Road and Jackson Creek Parkway that combine to average over 27,500 vehicles passing by daily. West Baptist Road, is a major retail thoroughfare serving the city of Monument. The Sherwin Williams is located within walking distance to The Monument Marketplace, a 660,000+ SF shopping center anchored by Walmart Supercenter, and also includes a Home Depot, Kohl’s, and PetSmart. The asset is also within walking distance from newly built Alta 25 Luxury Apartment Development, a 264-unit class A community. In addition, Sherwin Williams is located about 2-miles from U.S. Air Force Academy with 4,085 cadents. The U.S. Air Force Academy has a $851M annual impact on the Colorado economy. The property is in the center of
a primary retail corridor with other nearby national/credit tenants including a McDonald’s, Starbucks, Kohl’s, Home Depot, O’Reilly Auto Parts, KFC, Whataburger, Top Golf, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 61,306 and 21,365 employees with an affluent average household income of $192,247.