Sherwin-Williams Investment Opportunity in
1821 North York Street Muskogee, OK 74403
For Sale
$737,000
NNN leased Sherwin-Williams with over 11 years remaining in Muskogee,OK.
Property Size6,000 SF
Price / SF$122.83
Days on Market126
Property Features for 1821 North York Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Listing Agency:
CBRE | Tulsa
(612) 336-4322
Listed By:
AJ Prins
(612) 336-4322
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 28 at 9:02AM
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 | Tulsa
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.0k | $15.00 |
| − Vacancy | −$2.3k | −$0.39 |
| EGI | $87.7k | $14.61 |
| − OpEx | −$26.3k | −$4.38 |
| NOI | $61.4k | $10.23 |
6,000 SF · lease $15.00/SF/yr · vacancy 2.60% · expense 30.00%
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
Location Intelligence
Current Use
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.
