1243 N Center Ave - Freestanding FOR SALE


Somerset, PA 15501
$1,227,000 USD
215-603-6914
1243 N Center Ave, Somerset, PA for Sale
$1,227,000 USD
Freestanding - FOR SALE
1/8
null | 5.5% Cap Rate

1243 N Center Ave
Somerset, PA 15501


HIGHLIGHTS

  • Investment-grade tenant Sherwin-Williams (S&P BBB) with over 5,000 global locations and a $86B market cap.
  • Long-term, corporately guaranteed NN lease recently extended for 10 years; tenant has operated here since 1990.
  • Over $50,000 in capital improvements including new HVAC, expanded parking lot, and new water service line.
  • Built-in 10% rent increases in 2031 and each option period provide predictable yield growth.
  • Strong trade area with minimal competition and a solid blue-collar customer base driving steady sales.
  • Prime location off I-76 Somerset Interchange with excellent visibility and access along the area’s main retail corridor.

OVERVIEW

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Sherwin-Williams location in Somerset, Pennsylvania. Backed by a corporate guarantee from The Sherwin-Williams Company (NYSE: SHW), this investment offers a stable income stream from an established, investment-grade tenant with minimal landlord responsibilities. Sherwin-Williams (S&P: BBB) operates more than 5,000 locations in 120+ countries and boasts a market capitalization exceeding $86 billion. The tenant has continuously occupied this Somerset location since 1990 (35 years) and recently executed an early extension for another 10 years, demonstrating long-term success and commitment at the site. The property is leased on a NN basis, with the tenant responsible for 100% of real estate taxes and property insurance, while the landlord is only responsible for roof and structure—shielding ownership from rising operating costs. The lease includes a 10% rental increase in 2031 and in each option period, ensuring predictable income growth and a natural hedge against inflation. Additionally, a new HVAC system was installed in 2023 and as part of a recent lease extension current ownership will complete approximately $50,000 in capital improvements that directly benefit the property and a new owner, ensuring little to no deferred maintenance for years to come. Improvements include installation of a new Rheem heating system (two 125K BTU furnaces with 10- year warranty), a complete resurfacing and 30’ x 30’ expansion of the parking lot (scheduled for completion Spring 2026, approx. $28,000), as well as the installation of a new public water service line and landscaping on the building’s north side to enhance curb appeal. Sherwin-Williams benefits from a strategic position in a trade area with minimal direct competition—Lowe’s is the only other major home improvement retailer in the market. The store is well-positioned to serve both retail customers and local contractors, supported by a strong blue-collar customer base, which makes up over 26% of the population within a five-mile radius. This offering presents a rare opportunity to acquire a long-term, high-performing retail asset leased to a nationally recognized credit tenant in a proven location with strong in-place economics, excellent accessibility, and long-term upside.

FOR SALE DETAILS

PRICE

$1,227,000 USD

PRICE/SF

$208 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sherwin-Williams | Somerset, PA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

-

APN/PARCEL ID

420021340

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.