Sherwin-Williams | 2500 15th Ave W
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Sherwin-Williams 2500 15th Ave W
5,745 SF Retail Building Seattle, WA 98119 £3,556,562 (£619/SF) 5% Net Initial Yield
Investment Highlights
- Sherwin-Williams is a national publicly traded tenant (SHW) with an investment grade credit rating of BBB from S&P Global Ratings
- The Interbay trade area is currently undergoing rapid change and seeing explosive growth and redevelopment
- The lease is guaranteed by Sherwin Williams corporate, providing strong credit
- The property is located just 10 minutes from Seattle CBD, South Lake Union, and the area’s largest employers – Amazon, Nordstrom, and Expedia
- The pricing is at/near land value providing an excellent long-term development site
Executive Summary
The offering provides the opportunity to acquire a ±5,745 square foot single tenant Sherwin-Williams. Sherwin-Williams (SHW) is an investment grade tenant located in one of the most dynamic and highly sought after trade areas of Seattle. The asset is located minutes from downtown Seattle and South Lake Union, two blocks from Expedia’s 1.95-million SF headquarters, and in the heart of the dense, high-income neighborhoods of Queen Anne, Magnolia, and Ballard.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,745 SF
Building Class
C
Year Built/Renovated
1960/2017
Price
£3,556,562
Price Per SF
£619
Net Initial Yield
5%
NOI
£177,828
Tenancy
Single
Number of Floors
2
Building FAR
0.55
Lot Size
0.24 AC
Zoning
C1-40
Parking
12 Spaces (2.09 Spaces per 1,000 SF Leased)
Frontage
150 ft on 15th
Amenities
- Signage
Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 277110-8020 | Improvements Assessment | £302,138 |
| Land Assessment | £1,378,238 | Total Assessment | £1,680,377 |
PROPERTY TAXES
Parcel Number
277110-8020
Land Assessment
£1,378,238
Improvements Assessment
£302,138
Total Assessment
£1,680,377
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Sherwin-Williams | 2500 15th Ave W
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