| Metric | Details |
|---|---|
| Entity / Legal Name | The Sherwin-Williams Company |
| Stock Ticker | NYSE: SHW |
| S&P / Moody‑s Rating | BBB / Baa2 |
| Rating Outlook | Stable |
| Investment Grade Status | Investment Grade |
| Sector | Retail / Specialty (Paint & Coatings) |
| Headquarters | Cleveland, Ohio |
| US Location Count | ~4,700+ company-owned stores |
| Annual Revenue | ~$23 billion (FY 2024) |
| Cap Rate Range | 5.50% – 6.75% |
| Typical Lease Term | 10 – 15 years (NNN) |
| Guarantee Type | Corporate (The Sherwin-Williams Company) |
| Typical Building Size | 4,000 – 7,000 SF |
| Typical Price Range | $1,500,000 – $5,000,000 |
Bond vs NNN Comparison: See how Sherwin Williams corporate bond yields compare to Sherwin Williams NNN cap rates, with after tax math, depreciation impact, and 1031 exchange treatment. Sherwin Williams Bonds vs NNN →
Sherwin-Williams Business Overview & NNN Investment Profile
Sherwin-Williams is the largest paint and coatings company in the world, operating approximately 4,700 company-owned retail stores across the United States through its Paint Stores Group. Founded in 1866 in Cleveland, Ohio, the company generates approximately $23 billion in annual revenue and has a market capitalization exceeding $80 billion. Sherwin-Williams’ acquisition of Valspar in 2017 for $11.3 billion cemented its position as the global leader in architectural and industrial coatings, with brands including Sherwin-Williams, Valspar, HGTV HOME, Minwax, and Krylon.
For NNN investors, Sherwin-Williams occupies a unique niche in the retail NNN market. Unlike most retail tenants that depend on consumer foot traffic, Sherwin-Williams stores primarily serve professional painters, contractors, and property managers who purchase in volume and on a recurring basis. This professional customer base creates remarkably stable, recession-resistant revenue: buildings always need painting, regardless of economic conditions. The company-owned store model means every Sherwin-Williams NNN lease carries a direct corporate guarantee from a $23 billion BBB/Baa2 investment grade entity, making these among the most creditworthy retail NNN investments available.
Sherwin-Williams’ BBB/Baa2 credit rating reflects the company’s dominant market position, diversified revenue streams (retail, industrial, and automotive coatings), and consistent cash flow generation. The professional-contractor customer base provides predictability that consumer-discretionary retailers cannot match. With $23 billion in revenue and 60,000+ employees worldwide, Sherwin-Williams provides one of the strongest corporate guarantees in the small-format retail NNN market.
Why Sherwin-Williams Matters for NNN Investors
Sherwin-Williams properties offer a compelling combination of investment grade credit, small-format accessibility, and recession-resistant fundamentals. The typical store occupies 4,000 to 7,000 square feet in a freestanding building or inline retail strip, with modest build-out requirements and minimal tenant improvement costs. These properties trade at price points of $1.5 million to $5 million, making them accessible to individual NNN investors. The B2B customer base means Sherwin-Williams stores are less vulnerable to e-commerce disruption than consumer retail: professional painters need to physically visit the store for color matching, product consultation, and same-day supply needs. This creates an enduring brick-and-mortar advantage.
Cap Rate Analysis & Pricing
Sherwin-Williams NNN properties trade in the 5.50% to 6.75% cap rate range as of Q1 2026. Locations with 12+ year remaining terms in primary markets trade at the tighter end. Shorter-term leases or secondary locations approach the wider end. The investment grade corporate guarantee commands pricing comparable to Dollar General (BBB/Baa2) at similar lease terms.
| Comparable Retail NNN Tenant | S&P / Moody‑s | Cap Rate Range |
|---|---|---|
| Dollar General | BBB / Baa2 | 6.75% – 7.75% |
| AutoZone | BBB / Baa1 | 5.75% – 6.75% |
| O’Reilly Auto Parts | BBB / Baa1 | 5.75% – 6.75% |
Yes. Sherwin-Williams carries S&P BBB and Moody‑s Baa2 credit ratings with stable outlooks. All 4,700+ company-owned stores carry direct corporate guarantees from the world’s largest paint company.
5.50% to 6.75% as of Q1 2026, reflecting the investment grade corporate guarantee and recession-resistant business model.
Yes. Professional painters and contractors require in-person color matching, product consultation, and same-day supply access. The B2B customer base makes Sherwin-Williams one of the most e-commerce-resistant retail NNN tenants.
Sherwin-Williams offers investment grade credit (BBB/Baa2) in a small-format (4,000 to 7,000 SF) at accessible price points ($1.5M to $5M). Comparable credits in this size range include AutoZone and O’Reilly Auto Parts.
The Only Sherwin-Williams NNN Advisor Whose Fee Comes From the Deal, Not From You
In NNN buyer representation, the listing broker typically pays a cooperating commission to the buyer’s broker. On the majority of transactions, this means there is no separate fee to you as the buyer. Where a cooperating commission is not available, our compensation is agreed upon with you in advance so there are never surprises.
Find It — Sherwin-Williams NNN properties sourced with corporate guarantee confirmation, contractor trade area analysis, and remaining term evaluation before you commit.
Fund It — BBB/Baa2 investment grade credit attracts aggressive life company and CMBS pricing. We have 150+ lender relationships to find best execution.
Exit It — Selling a Sherwin-Williams property? Investment grade small-format retail NNN commands premium pricing from both institutional and private buyers.
Get Your Free Sherwin-Williams NNN Consultation →
In a 1031 exchange? Tell us your timeline — we move faster.
Related NNN Tenants
Own a Sherwin-Williams Property? Capital Markets Strategies Beyond Selling
Maturing debt and considering refinancing? Our capital markets team maintains 150+ lender relationships underwriting NNN properties across investment-grade and non-investment-grade credit tiers. We structure rate-and-term refinancing, cash-out refis, and bridge-to-perm takeouts.
Evaluating a 1031 exchange or disposition? We represent both sides of Sherwin-Williams NNN transactions — whether you are looking to exit at peak value, exchange into a higher-quality credit tenant, or reposition within the same sector.
Need a current valuation? We maintain live comps on Sherwin-Williams NNN transactions and can produce a Broker Opinion of Value within 48 hours reflecting today’s cap rate market.
1031 Buyer Screen: Sherwin-Williams NNN
Sherwin-Williams is a useful 1031 screen because the tenant combines investment-grade credit with smaller-format real estate that may be easier to place in mid-sized exchanges. Benchmark the offer against the 2026 NNN cap-rate framework, then test lease term, contractor demand, and re-tenanting depth using the investment-grade 1031 tenant-selection checklist.
Fast diligence question: is the cap rate wide because of real opportunity, or because the location is too thin for durable contractor demand?
Own multiple Sherwin-Williams properties? Considering an off-market sale?
Investment Grade represents owners on confidential disposition of Sherwin-Williams portfolios and individual properties through off-market direct-to-principal distribution to specialty REITs, private equity funds, and family offices. Sherwin-Williams buyer demand runs deep, and portfolio sales consistently produce stronger pricing than sequential individual sales because the institutional buyer pool is structured around portfolio acquisition.
For multi-property owners considering a portfolio disposition, see Selling Investment Grade NNN Off-Market: Tenant-by-Tenant Buyer Demand. For the full off-market framework covering individual property dispositions, sale-leasebacks, and 1031 coordination, see Off-Market CRE Sales: The Complete 2026 Guide.
The pre-listing conversation is at no cost and fully confidential. Email team@investmentgrade.com or see contact Investment Grade.
Sherwin Williams NNN Properties Observed For Sale
31 active Sherwin Williams net lease listings observed across public listing sources, most recently Aug 14, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Las Cruces, NM | $2,863,000 | 5.70% | 5,500 | 7.0 yrs | View listing |
| Ponca City, OK | $1,200,000 | 6.25% | 5,000 | 5.5 yrs | View listing |
| Tulsa, OK | $2,583,000 | 6.00% | 4,587 | 10.4 yrs | View listing |
| Bartlesville, OK | $1,019,475 | 5.75% | 5,829 | 9.8 yrs | View listing |
| Moody, AL | $1,705,000 | 6.45% | 4,000 | 4.3 yrs | View listing |
| Poplar Bluff, MO | $934,000 | 7.00% | 6,000 | 5.0 yrs | View listing |
| Mesa, AZ | $1,961,000 | 5.00% | 5,095 | 9.4 yrs | View listing |
| Gray, TN | $3,793,651 | 6.30% | 10,000 | 10.0 yrs | View listing |
Search all 31 observed Sherwin Williams listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
