Popshelf

230 N Bypass 35, Alvin, TX 77511

$2,305,000

Cap Rate 5.85%

DOM: 454 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 12.8	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

Embree

Contact

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

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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

Listing Broker

Klinton Lewis

Embree

Contact

26 Listings
6239 Views
1 Sold

Klinton Lewis

Klinton Lewis serves as a Director of Brokerage for Embree Capital Markets Group, Inc., where he facilitates the sale of Embree’s current assets, new developments, and private clients’ commercial real estate properties. He also provides investment advice to clients as they evaluate their investment strategies, as well as building new relationships with clients. Prior to joining Embree, Klinton was an Associate with Marcus & Millichap. His responsibilities included developing client relat

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