INVESTMENT OPPORTUNITY! If you are scrambling around trying to find a safe, lucrative investment for your big upcoming 1031 Tax Deferred Exchange requirement, an excellent opportunity has just become available in Destin. A profitable 4,020 square foot active Sherwin Williams store located at 3628 Emerald Coast Parkway has just been listed. It has a coveted location with a .45 acre corner lot on the south side of the highway that includes a signal light intersection for easy access. It is near the northern gate of the exclusive residential community of Destiny just east of Regatta Bay with a very high traffic count, which averages 40,000 vehicles per day. The massive store was constructed in 2014 by the reputable Lord and Sons contractor and been actively in operation ever since.
Commercial Real Estate in the United States usually uses a Net Lease for business operations, which requires the tenant to pay rent plus some or all property expenses associated with property expenses such as taxes, insurance, maintenance, repairs, operations, and utilities. Advantages to this form of investment are that the owner-landlord has significantly lower on-going property costs, signs onto an Investment Grade Tenant and receives a Corporate Guarantee to pay a lease over a period of years. The amount of duration of time for the lease is an important concern with such investments because short-term Net Lease Agreements can be riskier. This is a long Net Lease with a corporate guarantee by Sherwin Williams to occupy the building for another six years as part of their original ten-year lease. It also comes with four Five Year Renewal Options on the original lease contract.
Sherwin Williams is highly reputable in the business world and is best known as one of the nation’s biggest provider of paints and primers since being established in Columbus, Ohio back in 1866. Their paint has been used on the Golden Gate Bridge as well as The White House. Sherwin Williams products are used for homes and buildings, protective marine craft coatings, product finishes, automotive and transportation finishes as well as aerospace. They have over 4,000 stores nationwide but this is their only retail outlet in Destin. This gives them a great central location for a huge burgeoning market including new developments as well as existing properties. The closest two other nearest Sherwin Williams stores are miles away in Fort Walton Beach. The corporation has had Consolidated Net Sales increases for the past ten years with record sales and earnings. In 2017 Consolidated Sales came in at almost 15 Billion dollars. Stockholders have been paid increased dividends every year since 1979.
This Net Lease Investment in Destin is priced at $1,875,000. Contact our Ocean Reef Real Estate Office today for a professional consultation at 877-392-6085. We can work to provide you with detailed lease information and answer any questions you might have about this property or others like it.