Sherwin-Williams | 2425 17th St
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Sherwin-Williams 2425 17th St
10,000 SF Retail Building Sarasota, FL 34234 £1,829,691 (£183/SF) 5.75% Net Initial Yield
Investment Highlights
- 10-year net lease to strong and growing corporate tenant
- Sherwin-Williams (NYSE: “SHW”) is rated “BBB” by Standard & Poor’s
- 1.7 miles from 1 Main Plaza, where Belpointe is constructing 418 luxury apartments, 55,000 square feet of commercial space, and 1,200 parking spaces a
- Scheduled 8% rental increases in option periods
- 1.5 miles from Downtown Sarasota, a major metropolitan Florida hub experiencing rapid development
- Sherwin-Williams is ranked #175 on the Fortune 500 list
Executive Summary
The property is surrounded by many densely populated residential developments and benefits greatly from being positioned within walking distance of downtown Sarasota, improving the overall visibility and access to a strong customer base
Additional nearby developments include One Park (18-story, 149-unit tower), The Cordelia (12-story, 240-unit tower), and The Gallery (5-story, 62-condominium tower)
Sherwin-Williams has excellent proximity to community hubs which provide the property with a consistent customer base, such as Sarasota Memorial Hospital (9,785 employees), Sarasota High School (2,117 students), Sarasota Military Academy (1,469 students), and Booker High School (1,296 students)
Sarasota is a tourist destination, with over three million visitors coming to Sarasota County annually to visit the countless attractions such as Mote Marine Laboratory, The Ringling Museum of Art, Sarasota Bay, and Lido Key
The Sarasota MSA has a population of over 891,000 in 2023, and Florida is one of the fastest-growing states in the U.S.
Additional nearby developments include One Park (18-story, 149-unit tower), The Cordelia (12-story, 240-unit tower), and The Gallery (5-story, 62-condominium tower)
Sherwin-Williams has excellent proximity to community hubs which provide the property with a consistent customer base, such as Sarasota Memorial Hospital (9,785 employees), Sarasota High School (2,117 students), Sarasota Military Academy (1,469 students), and Booker High School (1,296 students)
Sarasota is a tourist destination, with over three million visitors coming to Sarasota County annually to visit the countless attractions such as Mote Marine Laboratory, The Ringling Museum of Art, Sarasota Bay, and Lido Key
The Sarasota MSA has a population of over 891,000 in 2023, and Florida is one of the fastest-growing states in the U.S.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
10,000 SF
Building Class
B
Year Built/Renovated
1973/2023
Price
£1,829,691
Price Per SF
£183
Net Initial Yield
5.75%
NOI
£105,176
Tenancy
Single
Number of Floors
1
Building FAR
0.22
Land Acres
1.03 AC
Zoning
C1 - Commercial One
Parking
15 Spaces (1.5 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 0043-15-0001 | Improvements Assessment | £366,806 |
| Land Assessment | £575,733 | Total Assessment | £942,539 |
PROPERTY TAXES
Parcel Number
0043-15-0001
Land Assessment
£575,733
Improvements Assessment
£366,806
Total Assessment
£942,539
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Power Broker Vincent Aicale -
Power Broker Ryan Forsyth -
Power Broker Michael Yuras -
Power Broker Scott Crowle -
Cushman & Wakefield
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Sherwin-Williams | 2425 17th St
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