124 Glen Avenue is aretail property for lease in Berlin, NH.
SVN/Stewart Commercial Group, and SVN/The Urbanek Group are pleased to exclusively market for sale a net leased Sherwin-Williams property located in downtown Berlin on the major retail thoroughfare. The location features long term stability and will be sold free and clear of debt.
This is a single-tenant retail property with S&P "A" rated Sherwin-Williams. Sherwin-Williams has a net-lease which started in 1989 and expires in December, 31st 2019. Minimal landlord responsibilities. Sherwin-Williams pays for taxes, insurance, utilities, and maintenance. Sherwin-Williams has two, 5 yr renewal options remaining w/ 10% rent increases extending until 2029.
The Sherwin-Williams Company is a Fortune 500 company with Annual Revenue exceeding $10 Billion. It's Paint Stores Group segment operates over 4,000 company-operated specialty paint stores. Known for its line of high quality paints and finishes Sherwin-Williams is a global leader in the manufacture and sale of professional grade coatings and in March of 2016 announced the $9 Billion acquisition of Valspar.
- S&P "A-" Rated Tenant Sherwin-Williams (NYSE: SHW) Corporate Guarantee
- Minimal Landlord Responsibilities ( Roof & structure)
- 7.4% Cap Rate
- NOI $44,400
- $600,000 Asking Price
• S&P "A" Rated Tenant Sherwin-Williams (NYSE: SHW) Corporate Guarantee
• Minimal Landlord Responsibilities (Roof & Structure)
• 7.4% Cap Rate
• NOI $44,400
• $600,000 Asking Price
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- Chris Norwood, agent and Rofo Pro