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Virtual Drive-By

Sherwin-Williams NN

5730 Bobby Hicks Highway · Gray, TN 37615 · Specialty Retail

Asking price
$3,793,651
Cap rate
6.30%
NOI
$239,000

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Lease

Lease typeNN
Term remaining10.0 yrs
Expiration06/2036
Rent bumps8% each Option
OptionsSix (6) Five (5) Year Options
Ground leaseNo
Credit profileCredit Rated + Corporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF10,000
Price / SF$389
Year built
Lot size2.05 ac
TypeStorefront, Home improvement, Home & farm
Days on market80

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • New 10-year corporate lease to Sherwin-Williams
  • Investment grade credit (S&P: BBB; 5,000 locations)
  • World’s dominant paint brand ($83 billion market cap)
  • New construction - larger commercial prototype
  • Only location serving Gray - next location over 10+ mi away
  • Low rent-to-projected-sales ratio
  • Excellent Visibility On Bobby Hicks Hwy, which has 18,892 cars per day and less than 2 miles from Interstate 26, with 54,753 cars per day
  • Over 1.4M SF of retail, office and industrial within 2 mi with less than 1% vacancy
  • 167,086 people within 10 mi trade area/average HHI of $96,227
  • Gray, TN is part of the Tri-Cities region located 15 mi south of Kingsport and 12 mi north of Johnson City

Property overview

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in a new-construction, Sherwin-Williams located in Gray, Washington County, TN (the "Property").​ U.​S.​-based Sherwin-Williams (S&P: BBB) is the world’s most valuable and dominant paint brand with a market cap of approximately $83 billion and revenues over $23 billion.​

The Property is located just north of downtown Gray, TN.​ Within 2 miles, there is just over 1.4M SF of retail, office and industrial space with less than 1% vacancy.​ Notable retail tenants nearby include Food City, Ace Hardware, Starbucks, Dollar Tree, Ashley, McDonald’s, and many others.​

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.