Sherwin Williams | Outer Banks, NC
4,000 SF | Retail Building | Kill Devil Hills, NC 27948 | $3,503,000 ($876/SF) | 5.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,503,000
- Property Type
-
Retail
- Square Feet
- 4,000 SF
- Price / Square Foot
- $876
Listing Contacts
David Hoppe
Verified Profile
Sam Young
Verified Profile
Ben Olmstead
Verified Profile
- Property Info
Property Overview
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
10-Year Build-to-Suit
- New construction built with Sherwin’s newest store layout
- 10 year lease signed with Sherwin Corporate provides stable income throughout the entire term
- 8 additional option periods
Strong Vacation Market with Built-In Demand for Paint Use
- The NC outer banks have experienced a 244% increase in vacation rentals over the past 2 years, with many of those vacation homes needing to be painted on an annual basis
- Dare County has seen an 8% increase in tourism spending from 2021-2022
Located on Main Retail Corridor
- Over 537K SF of retail with 0% vacancy within a 1-mile radius
- Nearby National Tenants include: Target, Belk, Food Lion, Publix, and Lowes Home Improvement
- N. Croatan Hwy has over 32K VPD
North Carolina Growth Fundamentals
- North Carolina added 133k people from July 01, 2021 to July 01, 2022 (1.3% growth)
- NC was the 9th fastest growing state during that time
- 9th largest state by population
- 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
10-Year Build-to-Suit
- New construction built with Sherwin’s newest store layout
- 10 year lease signed with Sherwin Corporate provides stable income throughout the entire term
- 8 additional option periods
Strong Vacation Market with Built-In Demand for Paint Use
- The NC outer banks have experienced a 244% increase in vacation rentals over the past 2 years, with many of those vacation homes needing to be painted on an annual basis
- Dare County has seen an 8% increase in tourism spending from 2021-2022
Located on Main Retail Corridor
- Over 537K SF of retail with 0% vacancy within a 1-mile radius
- Nearby National Tenants include: Target, Belk, Food Lion, Publix, and Lowes Home Improvement
- N. Croatan Hwy has over 32K VPD
North Carolina Growth Fundamentals
- North Carolina added 133k people from July 01, 2021 to July 01, 2022 (1.3% growth)
- NC was the 9th fastest growing state during that time
- 9th largest state by population
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding, Storefront, Showroom
- Lot Size (sq. ft)
- 31,363 SF
Highlights
- Rare Costal Sherwin Williams
- Strong Vacation Market - High Paint Demand
- Located on Main Retail Corridor
Nearby Properties
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