Sherwin Williams | Shadow Anchored by Home Depot Center

170 Rothrock Road, Copley (Akron), OH

$2,200,000

Price

6.7%

Cap Rate

$146,532

NOI

Overview
Cap Rate
6.7%
NOI
$146,532
Building Size
4,000 sqft
Lot Area
0.93 acres
Occupancy
100%
Class
A
Year Built
2007
Parking Spots
15
Description

Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase a 100% fee-simple interest in a Sherwin Williams property located at 170 Rothrock Rd in Copley Township, within the Greater Akron area, in northeast Ohio (the “Property”). There are just under 5 years remaining on Sherwin William’s original 15-year double-net (NN) lease with three (3) five-year renewal options remaining. The lease calls for 10% rent increases in the Option Periods.

Built in 2007, the Property consists of a 4,000-square foot building that sits on an approximately 40,510 square foot parcel and is leased to The Sherwin-Williams Company on a long-term double-net (NN) lease. Sherwin Sherwin-Williams (NYSE: SHW), is a global leader in the manufacture, development, distribution and sale of paint, coatings, and related products which are sold exclusively through 4,180 company-operated stores in the U.S., Canada and the Caribbean.

Sherwin-Williams is headquartered in Cleveland, Ohio, has an “A” investment grade credit rating by Standard & Poor’s, and reported a company revenue of $11.855 billion in 2016.

The subject property is shadow anchored by a Home Depot-JC Penney-Dick’s Sporting Goods anchored center. It is located on Rothrock Rd, which runs alongside Interstate 77, offering visibility to 79,000 cars per day. The property is only a 1/2 mile from the on/off ramp to Interstate 77 for quick access to downtown Cleveland just 28 miles to the north. The site offers strong retail synergy with nearby tenants including Staples, Regal Cinemas, Best Buy, Cracker Barrel, Toys ‘R’ Us, Bob Evans, Macaroni Grill, Steak ‘n’ Shake, Fleming’s Steakhouse, Chili’s, Applebee’s, and many more.

Highlights
  • Sherwin-Williams : S&P Rated "A" Credit Tenant
  • Corporate Lease Guaranty
  • Minimal Landlord Responsibilities
  • 10% Rent Growth in Options
  • Shadow Anchored by Home Depot, JCPenney & Dick's Sporting Goods Anchored Center
  • Excellent Visibility & Signage
  • Parallel to Interstate 77 (79,000 cars per day)
  • Strong Retail Synergy
  • Located within Akron MSA
Documents

Location
Gallery