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Sherwin-Williams, Fair Oaks Ranch (San Antonio MSA), TX

Sherwin-Williams, Fair Oaks Ranch (San Antonio MSA), TX


Investment Summary

Price $3,091,000
Cap Rate 5.50%
NOI $170,000
Lease Term 10 years
Lease Type Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 4,500 SF
Lot Size 0.75 acres (32,670 SF)
Status Under Contract
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 10-YEAR NET LEASE TO INVESTMENT-GRADE TENANT
» 10-year net lease to strong and growing corporate tenant
» Scheduled rental increases every five (5) years
» Sherwin-Williams (NYSE: “SHW”) is rated “BBB” by Standard & Poor’s
» Sherwin-Williams annual revenue for 2023 was $23B, a 6.23% increase year-over-year
» E-commerce proof tenant

STRATEGIC LOCATION JUST OFF OF INTERSTATE 10 (64,100
VEHICLES PER DAY)
» High-visibility and easily accessible location just off the signalized hard corner of Frontage Road and Fair Oaks Parkway
» Strategically located just off Interstate 10 (64,100 AADT), allowing the site to capture significant commuter traffic
» Surrounded by several residential and master-planned home developments, providing a large built in customer base
» Near several well-attended schools within the Boerne ISD, including Van Raub Elementary School (789 students), Boerne Middle School South (924 students), Boerne High School (1,288 students), and Boerne-Samuel V. Champion High School (2000 students)
» Close proximity to Camp Bullis Military Training Reservation, a U.S. Army training camp that provides base operations support to Joint Base San Antonio

HIGHLY AFFLUENT AREA WITH EXCELLENT DEMOGRAPHICS
» Extremely affluent average annual household income of $169,593 within a five-mile radius and $174,758 within a one-mile radius
» 52,847 residents live within a 5-mile radius of the site (a 214% increase since 2010)
» Steep projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Sherwin-Williams and Fair Oaks Ranch for steady concurrent growth
» Surrounded by residential developments including Elkhorn Ridge at Fair Oaks, Balcones Heights, Regent Park, The Bluffs at Stonehaven, and Dominion (one of the most affluent neighborhoods in San Antonio), providing a stable customer base for the site
» Fair Oaks Ranch is a part of the San Antonio MSA, one of the fastest-growing metropolitan areas in the U.S. with a population of over 2,454,000 in 2023

NEW 2024 CONSTRUCTION IN A TAX-FREE STATE
» New 2024 construction built to Sherwin-William’s latest prototype

Property Description

» Excellent Location: Highly visible and easily accessible location at the signalized intersection of Frontage R
» Surrounded by Residential Developments: This Sherwin-Williams maintains beneficial proximity to a myriad of
residential communities, including Dominion (one of the most affluent neighborhoods in San Antonio), Front Gate at Fair Oaks Ranch (174 homesites), and Elkhorn Ridge at Fair Oaks
» Near Well-Attended Schools: The property is near several well-attended schools such as Fair Oaks Elementary School (768 students), Van Raub Elementary School (789 students), Boerne Middle School South (924 students), Boerne High School (1,288 students), and Boerne-Samuel V. Champion High School (1,948 students)
» Affluent Area: The average annual household income within a 1-mile radius of this Sherwin-Williams is $174,758 (projected 11% increase by 2028)
» Ideal Nearby Customer Base: Within a 5-mile radius of this site, there are 52,847 people (a population count that has more than doubled since 2010), providing an ideal customer base
» Rapidly Growing MSA: With a population of over 2,450,000 in 2023, the San Antonio MSA is one of the fastest-growing metropolitan areas in the U.S.

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