Popshelf

230 N Bypass 35, Alvin, TX 77511

$2,305,000

Cap Rate 5.85%

Views: 137 DOM: 298 Updated: 10.25.24 Posted: 02.09.24 Status: Active

Summary

Price $2,305,000	Built/Renov 2022	Tenant Popshelf
Cap Rate 5.85%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,730	Lease Start 12-09-2022	#Units 216
Price/SF $214.82	Expiration 12-31-2037	Tenant Type Dollar/Discount
NOI $134,796	R. Term 13.1	Ownership Fee Simple
Rent/SF $12.56	Increases 10.0%/13/yrs	Pop 5Mi 53,676
Lot/AC 1.06	Options 4/5yrs/10%	AHHI 5Mi $98,710

Klinton Lewis

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Lease Highlights

pOpshelf has 13+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental increases at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Popshelf is strategically located on Bypass 35, with access to 35,902 vehicles passing by daily. The property is surrounded by well-known national tenants, including The Home Depot, Chili's, Starbucks, 7-Eleven, Chick-fil-A, and more. The 5-mile trade area is supported by a population of 53,676 with an average household income of $98,710. Alvin is a city in Texas, part of the Houston-The...

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Key Features

New construction
Near major nationals
Freeway close
Top 100 MSA
Income tax free state
Long 15+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

pOpshelf Wikipedia pOpshelf Wikipedia Alvin, Texas Zip Code 77511 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 :	8,259	33,780	54,343
2023 Total Population :	8,044	31,534	50,424
2023 Employed Civilian Pop :	3,685	14,576	23,690
2023 Total Businesses :	537	1,156	1,410
2023 Average Household Income :	$ 70,712	$ 87,227	$ 99,668
2023 Total Consumer Spending :	$ 191 M	$ 890 M	$ 1558 M
2023 Median Age :	34	35	37
2023 Total Households :	3,079	11,749	18,113
2023 Pop Age 25+: Bachelor's Degree :	844	3,572	6,636
2023 Average Home Value :	$ 204,952	$ 232,750	$ 270,583

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Sealy St	S Hood St	2001	2,920	0.01 mi
S Hood St	W Sealy St	2011	1,600	0.06 mi
Old Galveston Rd	Loop 409	2011	620	0.13 mi
S Hill St	W Sidnor St	2011	680	0.17 mi
Lang St	S Gordon St	2011	240	0.18 mi
North Gordon Street	Motel Dr	2020	15,060	0.20 mi
North Gordon Street	Midtown PkDr	2021	15,444	0.20 mi
W Adoue St	S Hardie St	2011	3,580	0.24 mi
E Adoue St	S Gordon St	2011	2,880	0.26 mi
S Hood St	W Adoue St	2011	2,260	0.28 mi

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