Sherwin-Williams Investment Opportunity in
For Sale
$737,000
1821 North York Street, Muskogee, OK 74403
NNN leased Sherwin-Williams with over 11 years remaining in Muskogee,OK.
Property Size6,000 SF
Price / SF$122.83
Days on Market141
Property Features for 1821 North York Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Listing Agency:
CBRE
(612) 336-4322
Listed By:
AJ Prins
(612) 336-4322
Source:
Cbre
Added: Mar 25
Changed: Aug 11
Last Checked: Aug 11 at 10:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
Investment Insights
Based on property information with market context.
The Sherwin-Williams property in Muskogee, OK, presents an investment opportunity with a corporately guaranteed, investment-grade credit lease (S&P BBB). The tenant, Sherwin-Williams, has occupied the 6,000 square foot building since its construction in 1993 and has over 11 years of lease term remaining at a 6.73% average CAP rate. The tenant has demonstrated commitment to this location by exercising multiple options and recently signing an early 10-year lease extension. Sherwin-Williams (NYSE: SHW) is a publicly traded company with a market cap over $86 Billion. They operate in over 120 countries and were the largest coatings company in the world by revenue as of 2024. In addition to the building, the property generates income from a billboard located on the premises, leased to Clear Channel Outdoor, Inc, based on a percentage of revenue, offering potential income growth. The seller has invested in capital improvements, including a new roof in 2025 (with transferable warranty) and parking lot upgrades. Muskogee is the 13th-largest city in Oklahoma and is the county seat of Muskogee County, located approximately 48 miles southeast of Tulsa. Muskogee secured the top position in Oklahoma for capital investment in 2024, ranking #1 in the state with over $4.1 billion in announced projects. The property is centrally located in Muskogee, near major transportation routes, including U.S. Highways 69 and 62.
Key Highlights
- Corporately guaranteed lease with investment grade credit (S&P BBB) Sherwin‑Williams.
- Over 11 years of remaining lease term with Sherwin‑Williams.
- Recent capital expenditures including a new roof in 2025 (with transferable warranty) and parking lot upgrades.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,362
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,227,240
$1.2M
Cap Rate 7%
$876,600
$876.6K
Cap Rate 9%
$681,800
$681.8K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.0K $15.00/SF
− Vacancy
−$2.3K −$0.39/SF
EGI
$87.7K $14.61/SF
− OpEx
−$26.3K −$4.38/SF
NOI
$61.4K $10.23/SF
Area
Muskogee County, OK
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,227,240
Cap Rate 7%
$876,600
Cap Rate 9%
$681,800
Alternative Uses
Best Use
Retail
$876.6K
$767.0K – $1.02M
NOI $61,362 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,910 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
32k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 42%
Electronics 14%
SONIC Drive In
Dining
13,922 visits/mo
0.4 miles
AT&T
Electronics
4,559 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
4,060 visits/mo
0.4 miles
Conoco
Shops & Services
2,983 visits/mo
0.5 miles
Arvest Bank
Shops & Services
2,229 visits/mo
0.1 miles
Demographics for 74403, OK
29,419
Population
12,779
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
109.7 sq mi
ZIP Area
268
Density / Sq Mi
$57,171
Median Household Income
$35,732
Median Earnings
$841
Median Rent
$145,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Wood Co Outdoor Living — 2300 N Main St, Muskogee, OK 74401
Frequently Asked Questions
What type of property is this?
Storefront property - NNN leased Sherwin-Williams with over 11 years remaining in Muskogee,OK.
Where is this storefront property located?
The property is located at 1821 North York Street Muskogee, OK.
What is the asking price?
The asking price for this property is $737,000.
What are key features of this property?
This property features: Corporately guaranteed lease with investment grade credit (S&P BBB) Sherwin‑Williams.; Over 11 years of remaining lease term with Sherwin‑Williams.; Recent capital expenditures including a new roof in 2025 (with transferable warranty) and parking lot upgrades.
