pOpshelf – Shepherdsville, KY
Fortis Net Lease is pleased to present this brand new 9,998 SF. pOpshelf store located in Shepherdsville, Kentucky – part of the Louisville Market. pOpshelf is Dollar General’s newest retail store concept aimed at engaging customers with a fun, affordable and stress-free shopping experience. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade.
The store is currently under construction with a projected rent start in October 2023. This pOpshelf is highly visible as it is strategically positioned off of I-65, which sees 92,795 cars per day, on Conestoga Parkway, which sees 10,777 cars per day. It sits directly across from Walmart (1.9M visitors/year), next to a Dollar Tree (performs in the top 1/3 in the US) anchored center, and is surrounded by restaurants, retail, and industrial. The five mile population from the site is 32,231 and the one mile average household income is $72,063 per year, making this location ideal for a pOpshelf store. The city of Shepherdsville is currently investing $30 Million to do several large development projects to revitalize downtown, build a new aquatics center, and expand the cities park. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a pOpshelf store. List price reflects a 6.15% cap rate based on the NOI of $189,213.96.
INVESTMENT HIGHLIGHTS
• New 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• Dollar General’s Newest Retail Concept | Opening Soon
• Part of the Louisville Market | Off of Interstate 65 (92,795 VPD)
• Shepherdsville Undergoing $30M Improvement Projects
• Across From Walmart (1.9 Million Visitors/Year), Next to Lowes & Dollar Tree Anchored Center
• Surrounded by Retail, Restaurants, & Industrial
• Four (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $72,63
• Five Mile Population 32,231
• 10,777 Cars Per Day on Conestoga Parkway
• Dollar General Corporate Guaranty With “BBB” Credit Rating
Broker of Record: Brian Brockman | Bang Realty