A. If stored properly, an unopened can of oil based or acrylic latex paint should have a shelf life of more than two years. Store paint in a cool, dry area away from extreme hot and cold temperature. Be sure you store paint way from heat generating appliances like furnaces and wood stoves. It isn’t uncommon to find paint in an unopened container that is properly stored to be in “like new” condition for 10-15 years or longer.