SHERWIN WILLIAMS

Strong National Credit Tenant – Sherwin-Williams (NYSE: SHW) is a globally recognized, strong investment-grade company and a leader in the paint industry. With a corporate lease and a market presence spanning decades, the subject property offers exceptional stability, making this asset a low-risk investment.
Irreplaceable Rent – The tenant is only paying $9.31 PSF in rent, which is estimated to be 33% below market rent, incentivizing them to keep renewing their renewal options.
Downside Protection – With rent well below market, investors benefit from a built-in margin of safety – and a compelling opportunity to enhance yield and property value through a market-rate re-lease situation.
Located on Main Street – Situated in the heart of downtown Hendersonville, the property enjoys strong visibility with ±17,000 vehicles per day, a vibrant and walkable retail corridor, and close proximity to the high school, hospital, and a major commercial district.
Exclusive Market Coverage – This is the only Sherwin-Williams store serving Hendersonville, NC, with the next closest location over 10 miles away. The property draws from a dense and growing trade area, with over 62,000 residents across nearly 28,000 households within a 5-mile radius—and more than double that within 10 miles.
“Sticky” Tenancy – Sherwin-Williams’ long-standing presence at this low-rent location since 1974 demonstrates their strong tendency to remain in place, reinforcing their reputation as one of the most dependable tenants in retail.
Recent Upgrades – The tenant helped improve the loading dock to ensure safer and more efficient deliveries. It is now paved and includes a dock leveler. Additionally, the roof was replaced by the previous owner in 2010.

Navigation Menu

Key Information

Highlights

Photos

Location

Agents

Broker of Record

Kyle Matthews