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Sherwin Williams, Payson, UT

Sherwin Williams

Payson, UT

Price $3,334,000
Cap Rate 4.50%
NOI $150,000
Lease Term 10 Years
Lease Type Net Lease
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 4,500 SF
Lot Size 0.984 Acres (42,863 SF)
Status Under Contract
Lead Broker Information Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Investment Highlights

NEW 10-YEAR NET LEASE TO INVESTMENT GRADE TENANT
» 10-year net lease to strong and growing corporate tenant
» Scheduled rental increases, providing a hedge against inflation
» Sherwin-Williams (NYSE: “SHW”) is rated “BBB” by Standard & Poor’s
» 2022 construction built to latest Sherwin-Williams prototype

HIGH-VISIBILITY LOCATION IN LARGE AND GROWING UTAH SUBURB
» Conveniently located on West 800 South, with access to 19,285 vehicles per day
» Less than a quarter of a mile from Interstate 15, with visibility to an additional 48,000 vehicles per day
» Utah County grew by a staggering 35.7% from 2010-2020, the 35th fastest-growing county nationwide
» 50,314 residents within a five-mile radius, providing a consistent customer base for the property
» Average household income of $91,313 within five miles and projected to increase 14 percent by 2026, poising Sherwin-Williams and the immediate trade area for concurrent growth

PROXIMITY TO PAYSON’S LARGEST RETAIL CENTERS, SCHOOLS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Dutch Bros (also available), Taco Bell, Arby’s, IHOP, KFC, AutoZone, Big O Tires, and many more
» 1.5 miles from Payson High School (1,318 students) and Payson Junior High School (1,051 students)
» 10 miles from Utah Lake (285,000+ annual visitors)
» Interstate 15 carries significant commuter traffic to and from the Salt Lake City MSA (1.24 million population)
» One mile from Payson Utah Temple (95,000+ members), providing a large customer base to the site



Property Description

This Sherwin-Williams is conveniently located on West 800 South, with excellent access and visibility to 19,285 vehicles per day. The site is less than a quarter of a mile from Interstate 15, with visibility to an additional 48,000 vehicles per day. Utah County grew by a staggering 35.7% from 2010-2020, the 35th fastest-growing county nationwide. The site has strong demographics, with 50,314 residents living within a five-mile radius, providing a consistent customer base for the property. The average household income is $91,313 within five miles and is projected to increase 14 percent by 2026, poising Sherwin-Williams and the immediate trade area for concurrent growth.

The property benefits from its proximity to Payson’s largest retail centers, schools, and community hubs. Major tenants in the surrounding area include Walmart Supercenter, Dutch Bros (also available), Taco Bell, Arby’s, IHOP, KFC, AutoZone, and many more, significantly increasing traffic to the site. The property is 1.5 miles from Payson High School (1,318 students) and Payson Junior High School (1,051 students), driving breakfast and lunchtime traffic to the location. The site is 10 miles from Utah Lake (285,000+ annual visitors) and maintains excellent proximity to Payson Utah Temple (95,000+ members), providing a large customer base to the site.

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