Southern Pines, NC - 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 Southern Pines, North Carolina. The tenant, Sherwin Williams, recently signed a brand new 10-year lease with six (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% rental increases every five 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 minimal landlord responsibilities, making it an ideal, low-management investment opportunity for an investor.

The Sherwin Williams benefits from excellent frontage along State Highway 211 / U.S. Highway 15 & 501, which sees approximately 30,500 vehicles per day. State Highway 211 / U.S. Highway 15 & 501 is the major retail thoroughfare serving the city of Southern Pines. The property is in the center of a primary retail corridor with other nearby credit tenants including Lowe’s Home Improvement, Walmart Supercenter, Best Buy, Staples, Hobby Lobby, Ross Dress for Less, Chipotle, Sleep Number, Wells Fargo, Panera Bread, Five Guys, and more. The asset is adjacent to a Target-anchored center with additional national and credit tenants such as HomeGoods, Five Below, and Dick’s Sporting Goods. Sherwin Williams is an investment-grade tenant with a BBB credit rating, making it an ideal opportunity for those seeking investment-grade credit tenancy. The 5-mile trade area is supported by a population of over 50,000 and 37,000 employees with an average household income of $122,396.

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Listing ID: a28TP000002TtETYA0