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Views: 76 DOM: 104 Updated: 09.15.24 Posted: 06.07.24 Status: Active

Summary

Price $3,274,914
Built/Renov 2024
Tenant Popshelf
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,542
Lease Start 09-15-2024
#Units 216
Price/SF $310.65
Expiration 09-30-2039
Tenant Type Dollar/Discount
NOI $212,869
R. Term 15.0
Ownership Fee Simple
Rent/SF $20.19
Increases 5.0%/5/yrs
Pop 5Mi 164,089
Lot/AC 1.29
Options 4/5yrs/5%
AHHI 5Mi $93,349

Lease Highlights

  • Brand-new 2024 construction
  • Brand-new 15-year lease with 4 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Popshelf is strategically located on Madison Avenue, with access to 16,476 vehicles passing by daily. Conveniently located off Hwy 169, which boasts 34,661 VPD, the property serves as an outlot to Barry Towne, a shopping center ranked in the top 10% nationally with a ranking of 3,460 out of 37,069, drawing in 3.5 million visitors annually. Situated across from the Metro North Mall...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Popshelf
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corporation
  • # 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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Listing Broker

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