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 has completed construction and successfully opened for business 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 6.40% 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 | Now Open!
• 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