Overview

Description

Fortis Net Lease is pleased to present this brand new 9,998 SF. pOpshelf store located in Hopkinsville, Kentucky - part of the Hobby Lobby anchored Hopkinsville Towne Center. 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 Eagle Way, which sees 17,466 cars per day, on Fort Campbell Blvd, which sees 19,093 cars per day and is a main retail thoroughfare into downtown Hopkinsville. An outlot in Hopkinsville Towne Center, the tenant make-up includes Hobby Lobby, Burkes Outlet, TJ Maxx, Ross Dress For Less, ULTA Beauty, PetSmart, GNC, Rack Room Shoes, Five Below, Maurices, & Cato Fashions. Hopkinsville Towne Center is a neighborhood shopping center and is about 1 mile from The Bruce Convention Center (a 26,000 SF meeting and expo facility) and new Planters Bank-Jennie Stuart Health Sportsplex Hopkinsville (a 54,000 SF climate controlled indoor sports complex). The five mile population from the site is 31,781 while the one mile average household income is $62,193 per year, making this location ideal for a pOpshelf store. 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 $197,681.04.

Highlights

• New 15 year Absolute NNN lease | Zero landlord responsibilities
• Dollar general's newest retail concept | Now Open!
• Hopkinsville Towne Center Outlot | 184,000 SF neighborhood shopping center
• Hobby Lobby, Burkes Outlot, TJ Maxx, Ross Dress for less, & ULTA Beauty anchored
• 1 mile from Bruce Convention Center (26k sf meeting & expo facility) and planters Bank-Jennie Stuart Health Sportsplex (54k sf Indoor Sports Complex)
• Four (5 year) options | 10% increases at each option
• One mile household income $62,193
• Five mile population 31,781
• 19,093 VPD on Fort Campbell Blvd | 17,466 on Eagle Way
• Dollar General Corporate Guaranty With "BBB" Credit Rating
• On main retail thoroughfare | Lowes (ranked in top 15% of US), Walmart (ranked in top 12% of US), Kroger (nearly 1M visitors/yr)
• 15 miles to Fort Campbell | Major economic driver for Hopkinsville

Documents

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