Popshelf

574 Conestoga Pkwy, Shepherdsville, KY 40165

$2,956,468

Cap Rate 6.40%

Views: 85 DOM: 279 Updated: 06.18.24 Posted: 12.12.23 Status: Active

Summary

Price $2,956,468	Built/Renov 2023	Tenant Popshelf
Cap Rate 6.40%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 9,998	Lease Start 10-01-2023	#Units 216
Price/SF $295.71	Expiration 09-30-2038	Tenant Type Dollar/Discount
NOI $189,214	R. Term 14.0	Ownership Fee Simple
Rent/SF $18.93	Increases 10.0%/15/yrs	Pop 5Mi 32,231
Lot/AC 6.40	Options 4/5yrs/10%	AHHI 5Mi $78,218

Bryan Bender

Fortis Net Lease

Contact

Lease Highlights

Brand-new 2023 construction
Popshelf recently executed a brand-new 15-year lease with 4 (5-year) options
Lease features 10% rental increase at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Popshelf is strategically located on Conestoga Parkway, with access to 10,777 vehicles passing by daily. Positioned just off I-65, the property enjoys access to a high traffic count of 92,795 VPD. Its prime location places it directly across from Walmart, a destination drawing 1.9 million visitors annually, and adjacent to a Dollar Tree, which consistently performs in the top one-third of its...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway visibility
Top 100 MSA
Brand new lease
Absolute NNN
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Popshelf Wikipedia Dollar General Wikipedia Shepherdsville, Kentucky Zip Code 40165 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popshelf
Guarantor:Corp T and Rated
Company:Dollar General Corp.
# Units:216
Tenant S&P: BBB
Moody’s: Baa2
Stock: NYSE: DG

About Tenant

PopShelf is an upscale Dollar General retail concept focusing on non-consumable categories such as seasonal and home décor, health and beauty, home cleaning supplies, and party and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,506	20,161	32,660
2023 Total Population :	5,278	19,497	31,890
2023 Employed Civilian Pop :	2,645	9,285	15,127
2023 Total Businesses :	412	716	1,108
2023 Average Household Income :	$ 76,064	$ 74,784	$ 80,598
2023 Total Consumer Spending :	$ 141 M	$ 491 M	$ 867 M
2023 Median Age :	37	36	40
2023 Total Households :	2,133	7,558	12,434
2023 Pop Age 25+: Bachelor's Degree :	437	1,544	2,473
2023 Average Home Value :	$ 219,325	$ 210,734	$ 229,917

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
		2015	3,347	0.28 mi
		2014	5,982	0.30 mi
Adam Shepherd Pkwy	N Buckman St	2012	14,098	0.32 mi
North Buckman Street	Bishop Ln	2021	12,418	0.33 mi
E 4th St	Lakeview Dr	2010	22,900	0.33 mi
Highway 44 East	High School	2022	20,942	0.36 mi
E 4th St	Centerview Dr	2015	21,363	0.37 mi
		2014	3,623	0.45 mi
		2014	3,623	0.48 mi
		2014	5,531	0.48 mi

Listing Broker

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