Sherwin-Williams Tenant Overview

Net Lease Advisor Tenant Sherwin Williams


  • Investment grade tenant
  • Corporate guaranty
  • Low price point


  • Short-term leases
  • Some NN leases holds landlord responsible for roof and structure

Earnings Highlights

Earnings Summary
  • Q2 Net income totaled $648.6 million, or $2.42 per share, up from $595.5 million, or $2.16 per share, last year
  • Adjusted Q2 EPS of $2.65 missed the FactSet consensus of $2.67
  • Q2 Sales of $5.380 billion were up from $4.604 billion and also missed the FactSet consensus for $5.388 billion

Tenant Description

Sherwin-Williams is best known as retailer of paints and primers.

Sherwin-Williams is an attractive net lease asset for many investors who are seeking a lower price point but still want a high credit grade tenant.

The Sherwin-Williams Company, founded by Henry Sherwin and Edward Williams in 1866. Today, the company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean region, Europe and Asia.

The Company manufactures products under well-known brands such as Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through over 4,696 paint stores.

Average Cap Rate
Trailing 12-month average
Average Property & Lease
Average Sale Price $1,833,738
NOI $93,463
$/Square Foot $306 -$458
Building SF 4,000 - 6,000
Lot Size 0.5 - 1.0 Acres
Lease Term 10 Years
Escalations 8-12% in Options
Stock Symbol SHW
Credit Rating
Moody's Baa2
Average Cap Rate Trend
Rates reflect year-over-year comparison
Recent Sales Comps
Kingsport, TN 5.45%
Spring Hill, FL 6.07%
Fort Wayne, IN 6.50%