Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30181055
Property Subtypes: Free-Standing Building
Status: Pending
Building Size (RSF): 18,000 SF
Gross Building Area: See Agent
Gross Land Area: 2.04 Acres
Sale Price: $2,195,475
Unit Price: $121.97 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 3/16/2018

Overview / Comments

Single-Tenant Net-Leased Commercial Property. 100% Occupied by the global leader in manufacture, development, distribution, and sale of coatings and finishes. Built-to-suit for Sherwin-Williams in 2007. Sherwin-Williams shows commitment to the location in 2017, signs a 5-year lease renewal with 5% rental increase to 2022. Two five (5) year renewal options remain, extending expected occupancy to 2032. Mission critical, this is the only Sherwin-Williams Product Finishes facility in South Dakota. Minimal landlord responsibilities.

Attachments & Media

Current Tenants

Tenant Business Name Sherwin-Williams
Tenant Notes Sherwin-Williams is a global leader in manufacture, development, distribution, and sale of coatings and finishes.

Additional Details

Nearest MSA: Sioux Falls
County: Minnehaha
Tax ID/APN: 80389
Retail Clientele: Business
Highway Access: Interstate 29 and Interstate 90
Airports: Sioux Falls Regional Airport
Site Description: Built-to-suit for Sherwin-Williams in 2007, 18,000 Square Foot Product Finishes and Distribution Facility located on 2.04 acres in the growth market of Sioux Falls, SD. Close proximity to the Sioux Falls Regional Airport, Interstate 29 and Interstate 90 facilitates distribution.
Area Description: Sioux Falls's is the most populous city in South Dakota. Population grew 20% from 2000-2010. Population growth from 2010-2017 was 2.01% annually. The rate of growth is expected to continue at a rate of 1.87% annually over the next 5 years. In addition average household income is expected to rise by 3% or more annually by 2022.
Property Condition: Excellent
Year Built: 2007
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 193 20,962 88,770
Median Age: 45.65 34.11 34.34
Households: 75 7,654 35,743
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