Sell Your Sherwin-Williams Property
Considering selling your Sherwin-Williams property? These stores pair an investment grade tenant with a small building and a modest price, which appeals to many smaller 1031 exchange buyers. NNN Realty explains what drives your property’s value, how buyers evaluate Sherwin-Williams leases, and what to expect when you sell.
The Sherwin-Williams Market at a Glance
Short Answer
A Sherwin-Williams property is valued on its rent and the cap rate buyers accept, supported by the company’s investment grade credit. Most leases are NN, so the owner keeps the roof and structure, and terms are often short, which makes years remaining and roof condition as important to price as the credit. Buyers also look at the strength of the local contractor market and recent sales of comparable Sherwin-Williams stores.
- Typical cap rate
- 5.75% to 7.25%
- Typical sale price
- $1.25M to $1.75M
- Typical term left at sale
- 5 to 10 years
- Typical lease type
- NN
Approximate ranges from NNN Realty’s tracking of Sherwin-Williams listings and reported sales, with data as of September 29, 2026. They are a starting point, not an appraisal or a quote of current pricing: your property’s value depends on its lease, location and condition.
How to Sell Your Sherwin-Williams Property
Selling a Sherwin-Williams property usually means addressing short remaining terms and NN responsibilities up front. Our process prices the property around those details, presents it to buyers who value this credit, and guides the sale through closing.
Property Review & Valuation
We review the remaining term, option periods and any rent increases, the NN or NNN structure, and the tenant entity on the lease. We also look at roof age and warranty, building condition, whether the store is freestanding or in a strip center, nearby construction and contractor activity, and recent Sherwin-Williams sales. If an extension or a new roof could raise your price by more than it costs, we model that before you list.
Market Positioning & Buyer Targeting
We prepare an offering memorandum with professional photography and, where useful, drone imagery that presents the credit, the lease and the location clearly. Because the price point is modest, we target 1031 exchange buyers, private investors and smaller net lease funds looking for investment grade income, supported by nationwide marketing exposure.
Offers, Buyer Qualification & Negotiations
We compare offers on price, buyer experience, financing or proof of funds, and the proposed due diligence and closing timeline, which matters for exchange buyers working against deadlines. We then negotiate a non-binding Letter of Intent (LOI) covering the main terms and move to a formal Purchase and Sale Agreement (PSA).
Due Diligence & Closing
Once the Purchase and Sale Agreement is executed, the buyer typically has about 30–45 days of due diligence to review the lease, title, survey and physical condition, with particular attention to the roof and structure the landlord maintains under an NN lease.
We coordinate document delivery, site visits and the tenant estoppel from Sherwin-Williams, and keep the buyer, attorneys, title company and lender on track. Depending on the purchase agreement, the deposit may become nonrefundable once due diligence expires, subject to contractual exceptions, and closing commonly follows within about 15–30 days. Timelines vary by transaction.
What Is My Sherwin-Williams Property Worth?
The value of a Sherwin-Williams property is set mainly by its net operating income (NOI) and the capitalization rate (cap rate) buyers are willing to accept. However, not every Sherwin-Williams store trades at the same cap rate. Years remaining, roof age, NN versus NNN responsibilities and the strength of the local contractor market can each move the price.
How Cap Rates Affect Your Property’s Value
A cap rate represents the relationship between a property’s annual net operating income and its purchase price. Generally, a lower cap rate results in a higher property value, while a higher cap rate results in a lower value.
Example: $100,000 annual NOI at 6.5% cap rate = approximately $1,538,462 estimated property value.
Property Value = Annual NOI ÷ Cap Rate
Cap rate calculator
Estimated property value
Illustrative calculation only. Actual sale prices depend on property characteristics and market conditions.
Factors That Influence Sherwin-Williams Property Values
Remaining Lease Term & Extensions
Terms are often short, so many leases are near an option date when the owner decides to sell. An extension signed before marketing can add meaningful value.
Roof Age & Warranty
Because the landlord usually keeps the roof, buyers check its age and warranty first. A newer roof with a transferable warranty removes one of the most common price negotiations.
Lease Structure & Landlord Responsibilities
Most Sherwin-Williams leases are NN, and NNN leases are less common. The fewer costs the owner carries, the more buyers will typically pay.
Contractor Market & Store Performance
Stores in busy contractor markets are the ones the company tends to keep, and in 2026 it closed stores that did not meet its profitability threshold. Showing nearby construction activity and any available store performance information helps buyers trust that yours will renew.
Rent Level & Increases
Rent increases on these leases are usually modest, so income grows slowly over time. Buyers compare contract rent with market rent for a small retail building to judge long-term risk.
Sherwin-Williams as a Tenant
Sherwin-Williams runs company-operated paint stores that serve contractors and homeowners, and it does not franchise. Leases are commonly signed by The Sherwin-Williams Company or a subsidiary. The tenant entity and any guarantee vary by lease, so confirm both from your lease documents.
At June 30, 2026, Sherwin-Williams operated 4,841 paint stores. On its July 28, 2026 earnings call, management said it had opened 45 new stores and closed 57 (about 1% of paint stores) so far in 2026, that the closed stores did not meet its profitability threshold, and that it still planned 80 to 100 openings for the year, or about 30 net. Management described the store footprint optimization as behind it, but buyers still ask how an individual store performs.
- Parent company
- The Sherwin-Williams Company (NYSE: SHW)
- Stores
- 4,841 paint stores as of June 30, 2026
- Credit rating
- BBB from S&P Global Ratings and Baa2 from Moody’s (as listed for its July 29, 2025 notes offering)
- Common lease terms
- Often 5- to 10-year terms with renewal options and modest increases; most leases are NN, some NNN. Confirm landlord duties in your lease.
- Typical building
- About 5,000 square feet, freestanding or in a strip center
What Is Your Sherwin-Williams Property Worth?
Considering selling your Sherwin-Williams property? NNN Realty can estimate its current market value through a review of your lease term, roof and building, recent Sherwin-Williams sales, and current buyer demand.
Whether you are planning a sale or weighing an extension first, we can provide an informed assessment of your options.
NNN Realty is not affiliated with The Sherwin-Williams Company. Market ranges are approximate, based on listings and sales tracked through September 29, 2026, and the calculator is illustrative. Nothing here is tax, legal or investment advice.