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Sherwin Williams 2324 Whitehall Park Dr 4,000 SF Retail Building Charlotte, NC 28273 $3,755,966 CAD ($938.99 CAD/SF) 5.75% Cap Rate
Investment Highlights
- DENSE SURROUNDING RETAIL
- CORPORATE LEASE WITH FORTUNE 500 COMPANY
- NEW CONSTRUCTION WITH LONG TERM LEASE
Executive Summary
CORPORATE LEASE WITH FORTUNE 500 COMPANY
- Sherwin Williams has over 4,900 locations and employs over 61K people
- Market cap of $63.89B (NYSE: SHW)
- 2022 EOY sales increased to 11.1% to a record $22.15B
NEW CONSTRUCTION WITH LONG TERM LEASE
- New Construction built with Sherwin’s newest store layout
- Roof and Structure warranties will transfer to new owner
- 10 year lease signed with Sherwin Corporate provides stable income throughout the entire tenancy
- 40 year lease potential with options
DENSE SURROUNDING RETAIL
- Walmart Supercenter, Lowe’s Home Improvement, Publix, Chick-fil-A and McDonalds are core traffic magnets
- Within 1-mile is Topgolf
- Immediately north along S Tryon is The Shops at Whitehall Commons
- Within a 5-mile radius AHHI reaches $115,000
STRONG LEASE FUNDAMENTALS WITH BUMPS
- NN Lease with minimal Landlord Responsibilities
- Six (6) Five (5) year extensions remaining for the tenant with 8% Increases each option
CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC is now the 14th largest city in the U.S., with a population exceeding 943,000
- From 2020 to 2024, Charlotte recorded the 4th largest population increase in the nation, adding more than 69,000 residents
- Ranked among the top 10 hottest housing markets, Charlotte placed 7th nationally
- Over the past decade, the Charlotte region has experienced 24% employment growth, with an additional 8% job expansion projected between 2024 and 2030
REGIONAL CONNECTIVITY
- Direct access to S Tryon St/NC-49 which averages 33.000 VPD
- Within minutes of I-485 with full interchange connected to I-77 and I-85
- I-485 corridor is currently being upgraded with express lanes and new capacity
- Sherwin Williams has over 4,900 locations and employs over 61K people
- Market cap of $63.89B (NYSE: SHW)
- 2022 EOY sales increased to 11.1% to a record $22.15B
NEW CONSTRUCTION WITH LONG TERM LEASE
- New Construction built with Sherwin’s newest store layout
- Roof and Structure warranties will transfer to new owner
- 10 year lease signed with Sherwin Corporate provides stable income throughout the entire tenancy
- 40 year lease potential with options
DENSE SURROUNDING RETAIL
- Walmart Supercenter, Lowe’s Home Improvement, Publix, Chick-fil-A and McDonalds are core traffic magnets
- Within 1-mile is Topgolf
- Immediately north along S Tryon is The Shops at Whitehall Commons
- Within a 5-mile radius AHHI reaches $115,000
STRONG LEASE FUNDAMENTALS WITH BUMPS
- NN Lease with minimal Landlord Responsibilities
- Six (6) Five (5) year extensions remaining for the tenant with 8% Increases each option
CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
- Charlotte, NC is now the 14th largest city in the U.S., with a population exceeding 943,000
- From 2020 to 2024, Charlotte recorded the 4th largest population increase in the nation, adding more than 69,000 residents
- Ranked among the top 10 hottest housing markets, Charlotte placed 7th nationally
- Over the past decade, the Charlotte region has experienced 24% employment growth, with an additional 8% job expansion projected between 2024 and 2030
REGIONAL CONNECTIVITY
- Direct access to S Tryon St/NC-49 which averages 33.000 VPD
- Within minutes of I-485 with full interchange connected to I-77 and I-85
- I-485 corridor is currently being upgraded with express lanes and new capacity
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
4,000 SF
Year Built
2025
Price
$3,755,966 CAD
Price Per SF
$938.99 CAD
Cap Rate
5.75%
NOI
$215,954 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.87 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Sherwin Williams
- -
- 4,000 SF
- -
- Feb 2035
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Sherwin Williams | - | 4,000 SF | - | Feb 2035 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 201-032-23 | Improvements Assessment | $833,423 CAD |
| Land Assessment | $1,006,751 CAD | Total Assessment | $1,840,175 CAD |
Property Taxes
Parcel Number
201-032-23
Land Assessment
$1,006,751 CAD
Improvements Assessment
$833,423 CAD
Total Assessment
$1,840,175 CAD
Contacts
-
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Sherwin Williams | 2324 Whitehall Park Dr
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