Sherwin-Williams 10-Year Lease Plus Warehouse Building - 100% Leased 512 W Market Street, Aberdeen, WA $960,000 7.0% CAP Rate $67,838 NOI Actual location Listing Brokers: Brandi M. Ho Brandi@MAJCRE.com 360.823.5112 Blake Federinko Blake@MAJCRE.com 360.823.5111 Mike Jenkins Mike@MAJCRE.com 360.823.5102 While the information provided is not guaranteed it has been obtained from sources we deem reliable. It is provided without any representations, warranty or guarantee, expressed or implied as to its accuracy. Prospective buyer or tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other Professional advisor.
THIS OFFERING PRESENTS The opportunity to acquire an established Sherwin- Williams retail storefront, plus warehouse building comprised of two leased spaces.
INVESTMENT OVERVIEW Price $960,000 CAP 7.0% Tenants Sherwin-Williams - 10 Year Lease Warehouse Space A - Leased Warehouse Space B - Leased Building Size 11,575 SqFt Lot Size.45 AC Page 4
INVESTMENT OVERVIEW Income Tax Free State New 10-Year Lease Extension Corporately Guaranteed Long Term Established Location for Sherwin-Williams Surrounding businesses include 7-Eleven, Walmart, Safeway and much more!
LEASE SUMMARY GUARANTOR: SQFT OCCUPIED: TERM: OPTIONS: LEASE TYPE: Sherwin-Williams 5,237 SqFt 10-Year Term ONE, 5-YEAR OPTION at $6,415 Mo / $76,980 Yr Modified Gross Sherwin-Williams Lease Landlord Responsibilities: Tenant Responsibilities: Lease Options: Warehouse Lease(s) Landlord Responsibilities: Tenant Responsibilities: Tenant Use: Taxes, Parking Lot & Grounds (minimal), Roof & Structure Utilities, Interior Maintenance, Insurance (reimbursement) One, Five-Year Option to Extend Taxes, Insurance, Parking Lot & Grounds (minimal) Roof & Structure Utilities Storage Page 6
TENANT OVERVIEW Tenant Summary The Sherwin-Williams Company was founded in 1866, by Henry Sherwin and Edwards Williams, in Cleveland, Ohio. The company has not only grown to be the largest producer of paints and coatings in the United States, but is among the largest producers in the world and has grown into 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 & South America and Europe. In 2016 Sherwin-Williams celebrated their 150th anniversary. They currently operate over 4,000 stores.
FINANCIAL SUMMARY Gross Income SHERWIN-WILLIAMS WAREHOUSE A WAREHOUSE B Total Gross Income $79,920.00 RESERVES AT.10 PSF $1,157.50 $78,763.00 Effective Gross Income LESS OPERATING EXPENSES $67,200.00 $4,800.00 $7,920.00 TAXES INSURANCE UTILITIES TOTAL EXPENSES $8,578.00 $2,347.00 TENANT $10,925.00 Total Operating Expenses $10,925.00 Net Operating Income $67,838.00 CAP Rate 7.0% Sale Price $960,000.00 Page 8
RENT ROLL Suite Tenant Lease Term Monthly Rent Annual Rent PSF 101 SHERWIN-WILLIAMS 5,237 SQFT 5/2018 -- 6/30/28 $5,600.00 $67,200.00 $13.61 103 WAREHOUSE A 2,538 SQFT 6/1/15 -- 5/31/18 $400.00 $4,800.00 $1.89 104 WAREHOUSE B 3,800 SQFT 4/1/18 -- 3/31/20 $660.00 $7,920.00 $1.89 $6,660.00 $79,920.00
AERIAL SUBJECT SITE Additional Retailers Denny s ARCO Safeway Pizza Hut Timberland Bank Jack in the Box Autozone Dairy Queen Home Depot Starbucks Subway Walmart Marshalls Tractor Supply Co Burger King 7-Eleven Sears Riverside Cinema Page 10
PROPERTY PHOTOS
DEMOGRAPHICS Average Income Estimated 2017 Projected 2022 Census 2010 Census 2000 1mi. 3mi. 5mi. $55,658 $62,104 $61,758 $65,789 $73,873 $73,193 $47,669 $51,823 $50,750 $38,104 $40,423 $40,781 Population Estimated 2017 Projected 2022 Census 2010 Census 2000 1mi. 3mi. 5mi. 8,772 21,146 26,692 9,285 22,112 27,986 9,323 22,428 28,239 9,242 22,201 28,200 Page 12
ABERDEEN, WA The City of Aberdeen is a historic community located in Grays Harbor County near the Pacific Coast of Washington. The region, rich in fish, wildlife and timber, supported a number of Native American communities as well as serving to make it attractive area for pioneers to settle in the mid-nineteenth century. Captain Robert Gray first discovered the harbor in May of 1792. Ultimately the city was founded in 1884 by local resident Samuel Benn, a pioneer visionary who saw regions tremendous potential. The city, itself, was named for a local salmon cannery and reflected its fishing port namesake of Aberdeen, Scotland. Aberdeen Washington, like the one in Scotland, is at the mouth of two rivers, the Chehalis and Wishkah. Although it became the largest and best-known city in Grays Harbor, Aberdeen lagged behind neighbors Hoquiam and Cosmopolis in the early years. When A.J. West built the town s first sawmill in 1894, the other two municipalities had been in business for several years. AGE Median Age 37.2 Years Old Gender Male 50.0% Female 50.0%
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