530 Clark Street is aretail property for lease in Middletown, OH.
Subject property is a single tenant Sherwin Williams store located in Middletown, OH. Built specifically for Sherwin Williams, the property is Net Leased (Landlord responsible for Roof/Structure/Parking Lot) by Sherwin Williams corporate. Current lease term expires 9/30/16 with very high probability of 3-year renewal with a 4% rent increase.
Best known for its line of high quality interior and exterior paints, The Sherwin-Williams Company is an American Fortune 500 company in the general building materials industry. The company primarily engages in the manufacture, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers primarily in North and South America and Europe. Traded on the NYSE, Sherwin Williams has a $20B Market Cap and holds an S&P rating of A.
• Sherwin-Williams occupied for 40+ years
• Very high probability of 3-year renewal (10/1/16)
• 9.01% cap rate on actual income
• Corporate Guaranteed lease
• Net lease opportunity w/ low maintenance costs
• $36,050 NOI